Extra Space Storage Inc. (NYSE:EXR) Shares Purchased by Adelante Capital Management LLC

Adelante Capital Management LLC boosted its stake in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 1,862.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 291,112 shares of the real estate investment trust's stock after purchasing an additional 276,276 shares during the quarter. Extra Space Storage makes up 2.8% of Adelante Capital Management LLC's investment portfolio, making the stock its 12th biggest holding. Adelante Capital Management LLC owned approximately 0.14% of Extra Space Storage worth $43,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new stake in Extra Space Storage during the fourth quarter worth approximately $25,000. Harbour Investments Inc. lifted its position in shares of Extra Space Storage by 90.9% during the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock worth $25,000 after buying an additional 80 shares during the last quarter. Quent Capital LLC boosted its holdings in shares of Extra Space Storage by 89.0% in the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust's stock valued at $49,000 after buying an additional 154 shares in the last quarter. Asset Planning Inc purchased a new position in shares of Extra Space Storage in the 4th quarter valued at $52,000. Finally, Quarry LP raised its stake in Extra Space Storage by 156.1% during the 4th quarter. Quarry LP now owns 356 shares of the real estate investment trust's stock worth $53,000 after acquiring an additional 217 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Extra Space Storage Stock Performance

NYSE:EXR traded up $0.27 during mid-day trading on Monday, reaching $149.83. The stock had a trading volume of 152,306 shares, compared to its average volume of 1,053,047. Extra Space Storage Inc. has a twelve month low of $121.03 and a twelve month high of $184.87. The business has a 50 day simple moving average of $144.35 and a 200 day simple moving average of $153.21. The firm has a market capitalization of $31.80 billion, a price-to-earnings ratio of 39.26, a PEG ratio of 7.76 and a beta of 0.96. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $820.00 million for the quarter, compared to the consensus estimate of $705.12 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.96 earnings per share. On average, 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 business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.32%. The ex-dividend date was Friday, March 14th. Extra Space Storage's dividend payout ratio (DPR) is 150.35%.

Insider Buying and Selling

In other Extra Space Storage news, EVP William N. Springer sold 1,220 shares of the company's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $152.66, for a total value of $186,245.20. Following the sale, the executive vice president now owns 20,158 shares of the company's stock, valued at approximately $3,077,320.28. This represents a 5.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total value of $1,105,875.00. Following the completion of the transaction, the chief executive officer now owns 9,190 shares of the company's stock, valued at approximately $1,355,065.50. This represents a 44.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,392 shares of company stock valued at $1,392,315. Corporate insiders own 0.96% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Evercore ISI lifted their target price on Extra Space Storage from $144.00 to $149.00 and gave the stock an "in-line" rating in a research report on Thursday. Barclays reduced their price objective on Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating for the company in a research note on Wednesday, March 12th. StockNews.com upgraded shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Wednesday, April 30th. Wells Fargo & Company reduced their price target on shares of Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating for the company in a research report on Friday, February 21st. Finally, Scotiabank raised shares of Extra Space Storage from a "sector perform" rating to a "sector outperform" rating and lowered their price objective for the stock from $165.00 to $149.00 in a research report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $165.42.

Extra Space Storage Company Profile

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.