Northern Trust Corp Raises Holdings in Extra Space Storage Inc. (NYSE:EXR)

Northern Trust Corp lifted its position in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 48.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,875,049 shares of the real estate investment trust's stock after buying an additional 941,212 shares during the period. Northern Trust Corp owned approximately 1.36% of Extra Space Storage worth $430,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Extra Space Storage Price Performance

Shares of NYSE EXR traded up $0.45 during mid-day trading on Monday, hitting $150.01. 133,267 shares of the company's stock traded hands, compared to its average volume of 1,052,933. 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 Inc. has a 1 year low of $121.03 and a 1 year high of $184.87. The company's 50-day moving average is $144.35 and its two-hundred day moving average is $153.21. The company has a market capitalization of $31.84 billion, a P/E ratio of 39.26, a PEG ratio of 7.76 and a beta of 0.96.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share for the quarter, beating the consensus estimate 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 quarter in the previous year, the company posted $1.96 EPS. On average, equities analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.32%. Extra Space Storage's dividend payout ratio is presently 150.35%.

Insider Activity at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction 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 sale, the chief executive officer now directly owns 9,190 shares of the company's stock, valued at approximately $1,355,065.50. The trade was a 44.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William N. Springer sold 1,220 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following the completion of the transaction, the executive vice president now directly owns 20,158 shares in the company, valued at $3,077,320.28. This represents a 5.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,392 shares of company stock worth $1,392,315. Insiders own 0.96% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on EXR shares. Royal Bank of Canada reduced their target price on shares of Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating for the company in a report on Thursday. Scotiabank upgraded shares of Extra Space Storage from a "sector perform" rating to a "sector outperform" rating and lowered their target price for the company from $165.00 to $149.00 in a research note on Wednesday, April 9th. Evercore ISI raised their price target on Extra Space Storage from $144.00 to $149.00 and gave the company an "in-line" rating in a report on Thursday. 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 for the company. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Extra Space Storage in a research note on Thursday, March 6th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Extra Space Storage has a consensus rating of "Moderate Buy" and an average price target 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.