Merit Financial Group LLC Has $926,000 Stock Holdings in Extra Space Storage Inc $EXR

Merit Financial Group LLC reduced its holdings in shares of Extra Space Storage Inc (NYSE:EXR) by 48.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,567 shares of the real estate investment trust’s stock after selling 6,058 shares during the period. Merit Financial Group LLC’s holdings in Extra Space Storage were worth $926,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in EXR. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in Extra Space Storage by 67.2% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 125,687 shares of the real estate investment trust’s stock valued at $17,714,000 after purchasing an additional 50,500 shares in the last quarter. Segment Wealth Management LLC lifted its position in shares of Extra Space Storage by 8.5% during the 3rd quarter. Segment Wealth Management LLC now owns 2,709 shares of the real estate investment trust’s stock worth $382,000 after buying an additional 213 shares during the period. Ethic Inc. boosted its stake in Extra Space Storage by 298.0% in the 3rd quarter. Ethic Inc. now owns 22,441 shares of the real estate investment trust’s stock valued at $3,163,000 after buying an additional 16,802 shares in the last quarter. Perigon Wealth Management LLC bought a new stake in Extra Space Storage in the third quarter valued at $284,000. Finally, E. Ohman J or Asset Management AB grew its position in Extra Space Storage by 14.3% in the third quarter. E. Ohman J or Asset Management AB now owns 9,566 shares of the real estate investment trust’s stock valued at $1,348,000 after acquiring an additional 1,200 shares during the period. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Up 3.5%

NYSE:EXR opened at $135.71 on Wednesday. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.89. Extra Space Storage Inc has a 12-month low of $121.03 and a 12-month high of $162.77. The stock’s fifty day simple moving average is $131.69 and its 200-day simple moving average is $140.09. The firm has a market capitalization of $28.80 billion, a P/E ratio of 30.29, a P/E/G ratio of 2.41 and a beta of 1.27.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 28.40% and a return on equity of 6.56%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.07 earnings per share. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. Equities research analysts expect that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.8%. The ex-dividend date was Monday, December 15th. Extra Space Storage’s dividend payout ratio (DPR) is 144.64%.

Analyst Ratings Changes

A number of brokerages recently issued reports on EXR. Wall Street Zen lowered Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Weiss Ratings restated a “hold (c)” rating on shares of Extra Space Storage in a report on Wednesday, October 8th. UBS Group lowered their target price 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. Mizuho cut their price target on Extra Space Storage from $154.00 to $137.00 and set an “outperform” rating for the company in a report on Friday, December 5th. Finally, Evercore ISI reissued a “cautious” rating on shares of Extra Space Storage in a report on Monday, November 3rd. Six equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $147.00.

Extra Space Storage Profile

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.