Massachusetts Financial Services Co. MA Sells 314,035 Shares of Extra Space Storage Inc $EXR

Massachusetts Financial Services Co. MA decreased its holdings in Extra Space Storage Inc (NYSE:EXR) by 10.3% during the third quarter, HoldingsChannel.com reports. The firm owned 2,749,323 shares of the real estate investment trust’s stock after selling 314,035 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Extra Space Storage were worth $387,490,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in EXR. Chung Wu Investment Group LLC bought a new position in shares of Extra Space Storage in the second quarter worth about $29,000. Versant Capital Management Inc boosted its position in Extra Space Storage by 60.2% in the 3rd quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 80 shares during the period. Davis Capital Management bought a new position in Extra Space Storage in the 3rd quarter worth about $35,000. Elevation Point Wealth Partners LLC bought a new position in Extra Space Storage in the 2nd quarter worth about $37,000. Finally, MTM Investment Management LLC purchased a new position in shares of Extra Space Storage during the second quarter worth approximately $38,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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 report on Saturday, November 1st. Mizuho lifted their target price on Extra Space Storage from $137.00 to $143.00 and gave the company an “outperform” rating in a research report on Monday, January 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Extra Space Storage in a research report on Wednesday, October 8th. Barclays restated an “overweight” rating and set a $164.00 price target on shares of Extra Space Storage in a research note on Tuesday, January 13th. Finally, Evercore ISI reaffirmed a “cautious” rating on shares of Extra Space Storage in a research note on Monday, November 3rd. Six investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $146.27.

Extra Space Storage Trading Up 1.3%

NYSE EXR opened at $148.99 on Monday. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.89. The firm has a market cap of $31.62 billion, a PE ratio of 33.26, a price-to-earnings-growth ratio of 2.75 and a beta of 1.27. Extra Space Storage Inc has a 52 week low of $121.03 and a 52 week high of $162.77. The company has a 50 day moving average price of $132.91 and a 200 day moving average price of $139.71.

Extra Space Storage (NYSE:EXR) last released its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.02. Extra Space Storage had a net margin of 28.40% and a return on equity of 6.56%. The company had revenue of $858.46 million for the quarter, compared to the consensus estimate of $736.26 million. During the same quarter in the previous year, the firm earned $2.07 EPS. Extra Space Storage’s revenue was up 4.1% compared to the same quarter last year. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. As a group, sell-side analysts forecast that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were given a dividend of $1.62 per share. The ex-dividend date was Monday, December 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.3%. Extra Space Storage’s payout ratio is currently 144.64%.

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.