FIL Ltd Boosts Stake in Extra Space Storage Inc. (NYSE:EXR)

FIL Ltd lifted its position in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 21.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,884 shares of the real estate investment trust's stock after buying an additional 5,187 shares during the quarter. FIL Ltd's holdings in Extra Space Storage were worth $4,471,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new stake in shares of Extra Space Storage during the fourth quarter worth about $25,000. Harbour Investments Inc. increased its stake in 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 period. Quent Capital LLC lifted its holdings in Extra Space Storage by 89.0% during the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust's stock worth $49,000 after buying an additional 154 shares in the last quarter. Asset Planning Inc acquired a new position in shares of Extra Space Storage in the fourth quarter worth $52,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Extra Space Storage during the fourth quarter worth $54,000. Institutional investors and hedge funds own 99.11% of the company's stock.

Extra Space Storage Stock Performance

Shares of EXR traded up $2.77 during mid-day trading on Friday, reaching $140.99. 714,457 shares of the company's stock were exchanged, compared to its average volume of 1,068,092. The business's fifty day simple moving average is $147.25 and its 200-day simple moving average is $155.68. Extra Space Storage Inc. has a 52-week low of $121.03 and a 52-week high of $184.87. The stock has a market capitalization of $29.92 billion, a PE ratio of 36.91, a price-to-earnings-growth ratio of 7.76 and a beta of 0.96. 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 issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.93. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The company had revenue of $821.90 million for the quarter, compared to the consensus estimate of $707.34 million. On average, equities research analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $1.62 per share. The ex-dividend date was Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.60%. Extra Space Storage's payout ratio is 160.40%.

Wall Street Analysts Forecast Growth

EXR has been the subject of several analyst reports. Wells Fargo & Company lowered their target price on 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. Scotiabank upgraded shares of Extra Space Storage from a "sector perform" rating to a "sector outperform" rating and reduced their price objective for the company from $165.00 to $149.00 in a report on Wednesday, April 9th. Mizuho initiated coverage on shares of Extra Space Storage in a research note on Wednesday, April 9th. They set an "outperform" rating and a $141.00 target price for the company. Barclays cut 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. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $167.25.

Insider Buying and Selling at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Tuesday, April 1st. The stock was 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 $1,355,065.50. This trade represents a 44.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph J. Bonner sold 672 shares of the business's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $149.10, for a total transaction of $100,195.20. Following the completion of the transaction, the director now directly owns 4,557 shares in the company, valued at $679,448.70. This represents a 12.85 % decrease in their ownership of the stock. 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. 1.36% of the stock is currently owned by insiders.

About Extra Space Storage

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.