Mattson Financial Services LLC Cuts Stake in Extra Space Storage Inc $EXR

Mattson Financial Services LLC trimmed its holdings in shares of Extra Space Storage Inc (NYSE:EXR) by 18.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,391 shares of the real estate investment trust’s stock after selling 3,979 shares during the period. Mattson Financial Services LLC’s holdings in Extra Space Storage were worth $2,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of EXR. Vanguard Group Inc. raised its stake in Extra Space Storage by 0.9% in the second quarter. Vanguard Group Inc. now owns 34,269,652 shares of the real estate investment trust’s stock worth $5,052,717,000 after buying an additional 300,167 shares in the last quarter. State Street Corp raised its position in shares of Extra Space Storage by 1.6% in the 2nd quarter. State Street Corp now owns 13,680,181 shares of the real estate investment trust’s stock worth $2,017,006,000 after acquiring an additional 210,466 shares in the last quarter. Norges Bank bought a new stake in Extra Space Storage during the second quarter valued at about $1,058,303,000. Geode Capital Management LLC grew its stake in Extra Space Storage by 1.8% in the second quarter. Geode Capital Management LLC now owns 5,795,253 shares of the real estate investment trust’s stock valued at $851,070,000 after purchasing an additional 100,637 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Extra Space Storage by 10.2% during the second quarter. JPMorgan Chase & Co. now owns 4,513,795 shares of the real estate investment trust’s stock valued at $665,514,000 after buying an additional 419,240 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Truist Financial decreased their target price on shares of Extra Space Storage from $150.00 to $142.00 and set a “hold” rating for the company in a research report on Tuesday, December 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Extra Space Storage in a report on Wednesday, October 8th. Mizuho lowered their price objective on Extra Space Storage from $154.00 to $137.00 and set an “outperform” rating for the company in a research report on Friday, December 5th. Royal Bank Of Canada reduced their target price on Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating on the stock in a research report on Friday, November 7th. Finally, UBS Group decreased their price target on Extra Space Storage from $169.00 to $160.00 and set a “buy” rating for the company in a research note on Tuesday, September 16th. Six investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $147.00.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $141.41, for a total value of $1,060,575.00. Following the sale, the chief executive officer owned 19,760 shares in the company, valued at $2,794,261.60. This represents a 27.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.36% of the stock is owned by insiders.

Extra Space Storage Stock Up 0.5%

Extra Space Storage stock opened at $130.87 on Monday. The business’s 50-day simple moving average is $134.32 and its two-hundred day simple moving average is $140.90. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.24 and a current ratio of 0.24. The company has a market cap of $27.78 billion, a PE ratio of 29.21, a PEG ratio of 2.47 and a beta of 1.26. Extra Space Storage Inc has a fifty-two week low of $121.03 and a fifty-two week high of $162.77.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.02. The firm had revenue of $858.46 million during the quarter, compared to analysts’ expectations of $736.26 million. Extra Space Storage had a return on equity of 6.56% and a net margin of 28.40%.The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the business posted $2.07 earnings per share. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. Equities analysts anticipate that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Monday, December 15th. Extra Space Storage’s dividend payout ratio is 144.64%.

About Extra Space Storage

Extra Space Storage (NYSE: EXR) is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.