Ethic Inc. Sells 14,025 Shares of Extra Space Storage Inc. (NYSE:EXR)

Ethic Inc. decreased its holdings in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 76.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,434 shares of the real estate investment trust's stock after selling 14,025 shares during the quarter. Ethic Inc.'s holdings in Extra Space Storage were worth $663,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in EXR. Manning & Napier Advisors LLC lifted its stake in shares of Extra Space Storage by 1,127.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust's stock worth $116,985,000 after buying an additional 718,266 shares during the last quarter. Vert Asset Management LLC raised its holdings in Extra Space Storage by 8.0% in the 4th quarter. Vert Asset Management LLC now owns 93,473 shares of the real estate investment trust's stock valued at $13,984,000 after acquiring an additional 6,910 shares during the period. Pacer Advisors Inc. lifted its position in Extra Space Storage by 134.3% during the fourth quarter. Pacer Advisors Inc. now owns 167,735 shares of the real estate investment trust's stock worth $25,093,000 after acquiring an additional 96,136 shares during the last quarter. Brentview Investment Management LLC bought a new stake in shares of Extra Space Storage during the fourth quarter worth approximately $2,852,000. Finally, D.B. Root & Company LLC bought a new stake in shares of Extra Space Storage during the fourth quarter worth approximately $313,000. Institutional investors and hedge funds own 99.11% of the company's stock.

Extra Space Storage Stock Down 0.8%

NYSE EXR opened at $145.88 on Thursday. The business has a fifty day moving average price of $143.25 and a two-hundred day moving average price of $152.31. The stock has a market capitalization of $30.96 billion, a PE ratio of 38.19, a PEG ratio of 7.76 and a beta of 1.14. Extra Space Storage Inc. has a fifty-two week low of $121.03 and a fifty-two week 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, topping the consensus estimate of $1.96 by $0.04. The business had revenue of $820.00 million during 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%. Extra Space Storage's revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.96 EPS. Equities 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 yield of 4.44%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage's payout ratio is 150.35%.

Insider Buying and Selling at Extra Space Storage

In other news, Director Joseph J. Bonner sold 672 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $149.10, for a total value of $100,195.20. Following the completion of the transaction, the director now owns 4,557 shares of the company's stock, valued at $679,448.70. This represents a 12.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following the sale, the executive vice president now owns 20,158 shares in the company, valued at approximately $3,077,320.28. This represents a 5.71% decrease in their ownership of the stock. 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 quarter. Corporate insiders own 0.96% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on EXR shares. Evercore ISI lifted their price target on Extra Space Storage from $144.00 to $149.00 and gave the stock an "in-line" rating in a report on Thursday, May 1st. Mizuho initiated coverage on shares of Extra Space Storage in a research report on Wednesday, April 9th. They set an "outperform" rating and a $141.00 price target on the stock. Royal Bank of Canada dropped their price objective on shares of Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating for the company in a research note on Thursday, May 1st. StockNews.com upgraded shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Wednesday, April 30th. Finally, Bank of America raised their target price on shares of Extra Space Storage from $155.00 to $161.00 and gave the stock a "neutral" rating in a report on Tuesday. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Extra Space Storage presently has an average rating of "Moderate Buy" and a consensus price target of $158.69.

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.

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