Stifel Financial Corp decreased its stake in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 37.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 85,808 shares of the real estate investment trust's stock after selling 51,379 shares during the period. Stifel Financial Corp's holdings in Extra Space Storage were worth $12,837,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Extra Space Storage by 3.2% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 15,209 shares of the real estate investment trust's stock valued at $2,275,000 after purchasing an additional 469 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in Extra Space Storage by 1.3% during the fourth quarter. MetLife Investment Management LLC now owns 62,279 shares of the real estate investment trust's stock valued at $9,317,000 after acquiring an additional 792 shares during the period. Natixis bought a new position in shares of Extra Space Storage in the fourth quarter worth about $11,501,000. Norinchukin Bank The lifted its position in shares of Extra Space Storage by 3.1% during the 4th quarter. Norinchukin Bank The now owns 18,845 shares of the real estate investment trust's stock worth $2,819,000 after purchasing an additional 572 shares during the last quarter. Finally, Ossiam lifted its position in shares of Extra Space Storage by 20.6% during the 4th quarter. Ossiam now owns 10,666 shares of the real estate investment trust's stock worth $1,596,000 after purchasing an additional 1,824 shares during the last quarter. 99.11% of the stock is owned by institutional investors.
Extra Space Storage Price Performance
Shares of NYSE:EXR traded up $0.75 on Friday, hitting $149.03. The stock had a trading volume of 206,574 shares, compared to its average volume of 1,055,887. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The company has a market capitalization of $31.63 billion, a price-to-earnings ratio of 39.01, a price-to-earnings-growth ratio of 7.76 and a beta of 0.96. Extra Space Storage Inc. has a twelve month low of $121.03 and a twelve month high of $184.87. The firm's 50 day moving average price is $144.58 and its 200-day moving average price is $153.61.
Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.96 by $0.04. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business had revenue of $820.00 million during the quarter, compared to analysts' expectations of $705.12 million. During the same period in the previous year, the business posted $1.96 earnings per share. The firm's revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities research analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.
Extra Space Storage Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.35%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage's dividend payout ratio (DPR) is presently 150.35%.
Insider Buying and Selling
In related news, EVP William N. Springer sold 1,220 shares of the business's stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 20,158 shares of the company's stock, valued at $3,077,320.28. The trade was a 5.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,392 shares of company stock worth $1,392,315 in the last quarter. Insiders own 0.96% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have commented 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 research report on Thursday. The Goldman Sachs Group reiterated a "buy" rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Scotiabank upgraded shares of Extra Space Storage from a "sector perform" rating to a "sector outperform" rating and decreased their price target for the stock from $165.00 to $149.00 in a research report on Wednesday, April 9th. StockNews.com raised shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Wednesday. Finally, Mizuho assumed coverage on Extra Space Storage in a research report on Wednesday, April 9th. They set an "outperform" rating and a $141.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $165.42.
View Our Latest Report on EXR
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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