Bridgefront Capital LLC acquired a new position in Extra Space Storage Inc. (NYSE:EXR - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 4,702 shares of the real estate investment trust's stock, valued at approximately $703,000.
Several other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in Extra Space Storage in the 4th quarter valued at about $938,647,000. Northern Trust Corp lifted its position in Extra Space Storage by 48.7% during the fourth quarter. Northern Trust Corp now owns 2,875,049 shares of the real estate investment trust's stock worth $430,107,000 after buying an additional 941,212 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in Extra Space Storage during the fourth quarter worth $107,453,000. Manning & Napier Advisors LLC grew its holdings in Extra Space Storage by 1,127.2% in the 4th quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust's stock valued at $116,985,000 after buying an additional 718,266 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC increased its stake in shares of Extra Space Storage by 91.2% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,089,753 shares of the real estate investment trust's stock worth $163,027,000 after acquiring an additional 519,934 shares during the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the stock. Evercore ISI raised their price objective on shares of Extra Space Storage from $144.00 to $149.00 and gave the stock an "in-line" rating in a research report on Thursday, May 1st. Royal Bank of Canada lowered their price objective on Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating for the company in a research report on Thursday, May 1st. Barclays decreased their price target on Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 12th. Scotiabank raised Extra Space Storage from a "sector perform" rating to a "sector outperform" rating and cut their price objective for the stock from $165.00 to $149.00 in a research report on Wednesday, April 9th. Finally, Wells Fargo & Company lowered their target price on shares of Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating for the company in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $165.42.
Check Out Our Latest Report on EXR
Insider Buying and Selling at Extra Space Storage
In related news, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction on Friday, February 28th. The shares were sold at an average price of $152.66, for a total transaction of $186,245.20. Following the sale, the executive vice president now directly owns 20,158 shares in the company, valued at $3,077,320.28. This trade represents a 5.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total value of $1,105,875.00. Following the transaction, the chief executive officer now directly owns 9,190 shares in the company, valued at approximately $1,355,065.50. The trade was a 44.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,392 shares of company stock worth $1,392,315 over the last three months. Insiders own 1.36% of the company's stock.
Extra Space Storage Stock Up 0.9 %
Shares of Extra Space Storage stock traded up $1.29 on Friday, reaching $148.72. 522,257 shares of the company were exchanged, compared to its average volume of 1,054,351. The stock's 50 day moving average price is $143.80 and its 200-day moving average price is $152.62. The company has a market cap of $31.56 billion, a P/E ratio of 38.93, a price-to-earnings-growth ratio of 7.76 and a beta of 1.14. Extra Space Storage Inc. has a 1-year low of $121.03 and a 1-year high of $184.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23.
Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share for the quarter, beating analysts' consensus estimates of $1.96 by $0.04. The business had revenue of $820.00 million for the quarter, compared to analyst estimates of $705.12 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The company's revenue was up 2.6% on a year-over-year basis. During the same period last year, the business earned $1.96 EPS. As a group, equities analysts forecast that Extra Space Storage Inc. will post 8.1 EPS for the current year.
Extra Space Storage Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage's dividend payout ratio (DPR) is 150.35%.
About Extra Space Storage
(
Free Report)
Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of December 31, 2023, the Company owned and/or operated 3,714 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.6 million units and approximately 283.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.
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