Schiavi & Co LLC Invests $962,000 in Extra Space Storage Inc $EXR

Schiavi & Co LLC bought a new stake in Extra Space Storage Inc (NYSE:EXR) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,827 shares of the real estate investment trust’s stock, valued at approximately $962,000. Extra Space Storage accounts for about 0.3% of Schiavi & Co LLC’s investment portfolio, making the stock its 13th biggest holding.

Several other institutional investors also recently made changes to their positions in the stock. Versant Capital Management Inc increased its holdings in shares of Extra Space Storage by 60.2% during the 3rd quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 80 shares during the last quarter. Brown Advisory Inc. grew its position in Extra Space Storage by 1.8% during the second quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust’s stock valued at $653,000 after acquiring an additional 80 shares during the period. Exchange Traded Concepts LLC grew its position in Extra Space Storage by 10.2% during the third quarter. Exchange Traded Concepts LLC now owns 983 shares of the real estate investment trust’s stock valued at $139,000 after acquiring an additional 91 shares during the period. CX Institutional increased its stake in Extra Space Storage by 8.7% during the third quarter. CX Institutional now owns 1,193 shares of the real estate investment trust’s stock worth $168,000 after acquiring an additional 95 shares during the last quarter. Finally, Simplicity Wealth LLC raised its holdings in shares of Extra Space Storage by 6.9% in the 3rd quarter. Simplicity Wealth LLC now owns 1,541 shares of the real estate investment trust’s stock worth $217,000 after purchasing an additional 100 shares during the period. 99.11% of the stock is owned by hedge funds and other institutional investors.

Extra Space Storage Stock Performance

NYSE:EXR opened at $138.81 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.24 and a quick ratio of 0.24. The firm has a 50-day moving average of $134.90 and a two-hundred day moving average of $139.36. The stock has a market cap of $29.46 billion, a P/E ratio of 30.98, a PEG ratio of 2.64 and a beta of 1.27. Extra Space Storage Inc has a 1-year low of $121.03 and a 1-year high of $162.77.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.02. Extra Space Storage had a return on equity of 6.56% and a net margin of 28.40%.The business had revenue of $858.46 million for the quarter, compared to analyst estimates of $736.26 million. During the same period in the previous year, the company earned $2.07 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, research analysts expect that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently disclosed 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. The ex-dividend date was Monday, December 15th. This represents a $6.48 annualized dividend and a yield of 4.7%. Extra Space Storage’s payout ratio is currently 144.64%.

Wall Street Analysts Forecast Growth

EXR has been the topic of several research analyst reports. Morgan Stanley decreased their target price on Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating for the company in a report on Friday, December 5th. Mizuho boosted their price objective on shares of Extra Space Storage from $137.00 to $143.00 and gave the stock an “outperform” rating in a research note on Monday, January 12th. Barclays reissued an “overweight” rating and issued a $164.00 target price on shares of Extra Space Storage in a research note on Tuesday, January 13th. Wall Street Zen downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Extra Space Storage in a research note on Thursday, January 22nd. Six research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $146.53.

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.