Latest news with #ExtraSpaceStorage
Yahoo
5 days ago
- Business
- Yahoo
Here's Why Baron Real Estate Fund Sold Extra Space Storage (EXR) in Q2
Baron Funds, an investment management company, released its 'Baron Real Estate Fund' second-quarter 2025 investor letter. A copy of the letter can be downloaded here. The fund rose 3.61% (Institutional Shares) in the quarter compared to a 1.46% decline for the MSCI US REIT Index (the REIT Index) and a 6.13% gain for the MSCI USA IMI Extended Real Estate Index (the MSCI Real Estate Index). In addition, please check the fund's top five holdings to know its best picks in 2025. Shop Top Mortgage Rates A quicker path to financial freedom Your Path to Homeownership Personalized rates in minutes In its second-quarter 2025 investor letter, Baron Real Estate Fund highlighted stocks such as Extra Space Storage Inc. (NYSE:EXR). Extra Space Storage Inc. (NYSE:EXR) is a self-administered and self-managed REIT. The one-month return of Extra Space Storage Inc. (NYSE:EXR) was -8.88%, and its shares lost 15.55% of their value over the last 52 weeks. On August 1, 2025, Extra Space Storage Inc. (NYSE:EXR) stock closed at $139.30 per share, with a market capitalization of $30.87 billion. Baron Real Estate Fund stated the following regarding Extra Space Storage Inc. (NYSE:EXR) in its second quarter 2025 investor letter: "We also sold our position in Extra Space Storage Inc. (NYSE:EXR) during the quarter. While we are long-term bullish on the prospects for self storage real estate (excellent real estate businesses with less cyclical demand, pricing power, low capital intensity, scale advantages), we are concerned that lackluster existing home sales caused by the well-known 'lock in effect' may weigh on self-storage demand and market rents for longer than is widely believed. We view current share price valuations as fair, not overly cheap. As such, for now we opted to reallocate capital to other investments with superior return potential. We may revisit Extra Space Storage, a best-in-class company, in the future." An aerial view of a self-storage facility, its parking lot full with cars and RV's. Extra Space Storage Inc. (NYSE:EXR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 40 hedge fund portfolios held Extra Space Storage Inc. (NYSE:EXR) at the end of the first quarter which was 36 in the previous quarter. While we acknowledge the potential of Extra Space Storage Inc. (NYSE:EXR) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. In another article, we covered Extra Space Storage Inc. (NYSE:EXR) and shared the list of best REIT stocks to buy according to billionaires. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
31-07-2025
- Business
- Business Insider
Analysts Offer Insights on Real Estate Companies: Mapletree Commercial (OtherMPCMF) and Extra Space Storage (EXR)
Companies in the Real Estate sector have received a lot of coverage today as analysts weigh in on Mapletree Commercial (MPCMF – Research Report) and Extra Space Storage (EXR – Research Report). Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Mapletree Commercial (MPCMF) In a report released today, Geraldine Wong from DBS maintained a Buy rating on Mapletree Commercial, with a price target of S$1.50. The company's shares closed last Monday at $0.85. According to Wong is a 3-star analyst with an average return of 2.4% and a 60.5% success rate. Wong covers the NA sector, focusing on stocks such as CDL Hospitality Trusts, Mapletree Logistics, and Frasers Centrepoint. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Mapletree Commercial with a $1.17 average price target. Extra Space Storage (EXR) In a report released today, Juan C. Sanabria from BMO Capital maintained a Hold rating on Extra Space Storage, with a price target of $165.00. The company's shares closed last Wednesday at $149.34. According to Sanabria is a 2-star analyst with an average return of 0.2% and a 46.5% success rate. Sanabria covers the NA sector, focusing on stocks such as SmartStop Self Storage REIT, Inc., National Storage Affiliates, and National Health Investors. Extra Space Storage has an analyst consensus of Moderate Buy, with a price target consensus of $153.92, implying a 1.2% upside from current levels. In a report issued on July 23, Wells Fargo also maintained a Hold rating on the stock with a $160.00 price target.
Yahoo
18-06-2025
- Business
- Yahoo
Should You Retain Extra Space Storage Stock in Your Portfolio Now?
Extra Space Storage EXR is well-positioned to gain from its high brand value, geographically diversified portfolio and the self-storage industry's need-based and recession-resilient nature. The company's focus on store expansion through accretive buyouts bodes well for long-term growth. However, EXR is likely to face headwinds from lower new customer rates. The development boom of self-storage units in many markets is likely to continue affecting its pricing power. In the past three months, shares of this Zacks Rank #3 (Hold) company have risen 1.1% compared to the industry's fall of 1.4%. Analysts seem bullish on this stock, with the Zacks Consensus Estimate for its 2025 funds from operations (FFO) being revised marginally northward over the past month to $8.17. Image Source: Zacks Investment Research Extra Space Storage is the largest operator of self-storage properties in the United States. The company has significantly expanded its business in recent years, growing its branded store count from 1,029 in 2013 to 4,099 as of March 31, 2025 in 43 states and Washington, D.C. With a geographically diversified portfolio and significant scale, EXR is poised for long-term growth. We expect a year-over-year rise of 2.8% in the company's total revenues in 2025. The company is focused on consistently growing its business and achieving geographical diversity through accretive acquisitions, mutually beneficial joint venture partnerships and third-party management services. In addition to the buyouts, Extra Space Storage is making strategic investments through other channels in the storage sector, including preferred equity investments and a bridge loan program. The self-storage asset category is need-based and recession-resilient in nature. This asset class has low capital expenditure requirements and generates high operating margins. The self-storage industry continues to benefit from favorable demographic changes. For 2025, we estimate year-over-year growth of 2.7% in property rental revenues. Extra Space Storage is focused on improving its balance sheet, reducing secured debt and increasing the size of its unencumbered pool. As of March 31, 2025, the company's net debt to EBITDA was 5.3X. The percentage of unencumbered asset value to total asset value was 83.4%. With solid balance sheet strength, the company is well-poised to capitalize on external growth opportunities. EXR remains committed to increasing shareholders' wealth through consistent dividend payouts. In the past five years, the company has increased its dividend six times, and the five-year annualized dividend growth rate is 12.61% (Check Extra Space Storage dividend history). With a robust operating platform and a healthy financial position, we expect the dividend payout to be sustainable in the upcoming period. Extra Space Storage operates in a highly fragmented market in the United States, with intense competition from numerous private, regional and local operators. In addition, there has been a development boom of self-storage units in many markets in recent years. This high supply has fueled competition, affecting its power to raise rents and turn on more discounting. Particularly, the company continues to see new customer price sensitivity and, therefore, is likely to face headwinds from lower new customer rates in the near term. Despite the Federal Reserve announcing rate cuts late in 2024, the interest rate is still high and is a concern for Extra Space Storage. EXR has a substantial debt of around $12.81 billion as of March 31, 2025. Our estimate indicates a year-over-year rise of 4.6% in interest expenses in 2025. Some better-ranked stocks from the broader REIT sector are VICI Properties VICI and W.P. Carey WPC, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. The Zacks Consensus Estimate for VICI Properties' 2025 FFO per share has been raised marginally over the past two months to $2.34. The consensus estimate for W.P. Carey's current-year FFO per share has moved northward 1.2% in the past two months to $4.88. Note: Anything related to earnings presented in this write-up represents FFO, a widely used metric to gauge the performance of REITs. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Extra Space Storage Inc (EXR) : Free Stock Analysis Report W.P. Carey Inc. (WPC) : Free Stock Analysis Report VICI Properties Inc. (VICI) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11-06-2025
- Business
- Yahoo
If You Invested $10K In Extra Space Storage Stock 10 Years Ago, How Much Would You Have Now?
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Extra Space Storage Inc. (NYSE:EXR) is a real estate investment trust, which owns and/or operates 4,099 self-storage stores in 43 states and Washington, D.C. The company's stock traded at approximately $65.83 per share 10 years ago. If you had invested $10,000, you could have bought roughly 152 shares. Currently, shares trade at $149.83, meaning your investment's value could have grown to $22,760 from stock price appreciation alone. However, Extra Space Storage also paid dividends during these 10 years. Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Extra Space Storage's dividend yield is currently 4.32%. Over the last 10 years, it has paid about $45.51 in dividends per share, which means you could have made $6,913 from dividends alone. Summing up $22,760 and $6,913, we end up with the final value of your investment, which is $29,673. This is how much you could have made if you had invested $10,000 in Extra Space Storage stock 10 years ago. This means a total return of 196.73%. However, this figure is less than the S&P 500 total return for the same period, which was 244.94%. Extra Space Storage has a consensus rating of "Buy" and a price target of $162.95 based on the ratings of 21 analysts. The price target implies a nearly 9% potential upside from the current stock price. Trending: Invest Where It Hurts — And Help Millions Heal: On April 29, the company announced its Q1 2025 earnings, posting FFO of $2, beating the consensus estimate of $1.98, while revenues of $704.38 million came in below the consensus of $763.47 million, as reported by Benzinga. 'We had a solid first quarter, beating same store revenue expectations, maintaining historically high occupancy, and continuing to grow our capital light ancillary businesses. This led to FFO growth above our internal projections. Despite this level of performance, the recent economic uncertainty has caused us to maintain our same-store guidance,' said CEO Joe Margolis. For full-year 2025, the company expects core FFO in the range of $8 to $8.30. Check out this article by Benzinga for 11 analysts' insights on Extra Space Storage. Given the expected upside potential, growth-focused investors may find Extra Space Storage stock attractive. Furthermore, they can benefit from the company's solid dividend yield of 4.32%. Read Next: , which provides access to a pool of short-term loans backed by residential real estate with just a $100 minimum. Maximize saving for your retirement and cut down on taxes: . Image: Shutterstock This article If You Invested $10K In Extra Space Storage Stock 10 Years Ago, How Much Would You Have Now? originally appeared on Sign in to access your portfolio
Hindustan Times
03-06-2025
- Hindustan Times
Who is Jeremiah Hendrix? Black Tie Moving Nashville employee fired after video shows him attacking a trans woman
Nashville-based moving company Black Tie Moving has fired an employee after a video surfaced showing him attacking a transgender woman. The video quickly went viral, sparking public outrage. In a statement released Monday, the company condemned the alleged assault. 'We were made aware of an incident that took place over the weekend at a storage facility in Nashville, TN, involving one of our employees and another individual, a member of the LGBTQ+ community,' Black Tie Moving said. 'Security footage captures a physical altercation that is deeply troubling and entirely unacceptable.' 'When the incident was brought to our attention, we took immediate and decisive action to terminate the employee involved. We also proactively contacted law enforcement and have offered our full cooperation to support a thorough and unbiased investigation," the statement added. 'Black Tie Moving remains committed to learning, growing, and doing what is right, not just in moments of success, but especially in moments that test our character. There is no place in our company, our industry, or our society for violence, intimidation, or cruelty. We will not tolerate it, and we will take immediate action whenever it is brought to our attention." A post shared by Black Tie Moving (@blacktiemovingofficial) While the company did not name the employee, the victim, Tyla, identified him as Jeremiah Hendrix in an Instagram post. According to Tyla's Instagram post, the incident occurred on May 30 at Extra Space Storage, a self-storage facility in Nashville. Tyla and a queer friend were reportedly verbally harassed by five men working as movers at the property. Tyla reported the harassment to Extra Space Storage staff and began walking to her car. 'As we walked, the 5 men begin verbally harassing us again, we tried to just get to the car safely without any sort of interaction. We had a screaming match outside of our vehicle until one man started walking up on us telling us that we're still men and he could beat us,' Tyla wrote. Fearing for her safety, Tyla reported the harassment again. However, the movers were still allowed access to the building. 'Scared for my safety. we proceeded with letting the Extra Space Storage know that we were harassed a second time which the employees should have locked the building down, instead the movers were about to get into the building, which led to Jeremiah Hendrix physically attacking me, he said I had assaulted him by throwing drink in his direction (police confirmed that's not what happened) his attack was intentional and came from hate. this is the first time ever in Nashville I've ever felt so unsafe, terrified for my safety in that moment a grown man twice my size fully trying to beat me,' she wrote. Tyla shared CCTV footage of the attack, which quickly went viral on social media and sparked widespread outrage. Many users responded by flooding Black Tie Moving's official pages with negative reviews.
