GF Fund Management CO. LTD. Takes $576,000 Position in Extra Space Storage Inc. (NYSE:EXR)

GF Fund Management CO. LTD. purchased a new position in Extra Space Storage Inc. (NYSE:EXR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,851 shares of the real estate investment trust's stock, valued at approximately $576,000.

Other large investors also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new position in shares of Extra Space Storage in the 4th quarter worth $25,000. Harbour Investments Inc. lifted its stake in Extra Space Storage by 90.9% during the fourth 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 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 worth $49,000 after purchasing an additional 154 shares in the last quarter. Asset Planning Inc bought a new position in shares of Extra Space Storage during the 4th quarter valued at about $52,000. Finally, Quarry LP raised its holdings in shares of Extra Space Storage by 156.1% during the 4th quarter. Quarry LP now owns 356 shares of the real estate investment trust's stock valued at $53,000 after buying an additional 217 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Extra Space Storage news, Director Joseph J. Bonner sold 672 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at approximately $679,448.70. This trade represents a 12.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the company'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 in the company, valued at $1,355,065.50. This trade represents 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 90 days. Insiders own 0.96% of the company's stock.

Extra Space Storage Stock Up 1.4%

Shares of Extra Space Storage stock traded up $2.15 on Thursday, reaching $150.64. The stock had a trading volume of 736,219 shares, compared to its average volume of 1,055,524. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $31.97 billion, a P/E ratio of 39.43, a P/E/G ratio of 7.76 and a beta of 1.14. The company has a 50 day moving average price of $143.38 and a 200 day moving average price of $151.18. Extra Space Storage Inc. has a 1 year low of $121.03 and a 1 year high of $184.87.

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 EPS for the quarter, topping analysts' consensus estimates of $1.96 by $0.04. The company had revenue of $820.00 million during the quarter, compared to analysts' expectations of $705.12 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. Extra Space Storage's revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the business earned $1.96 EPS. As a group, equities research analysts forecast that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.30%. The ex-dividend date is Monday, June 16th. Extra Space Storage's payout ratio is 150.35%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Evercore ISI lifted their price target on shares of Extra Space Storage from $144.00 to $149.00 and gave the stock an "in-line" rating in a research note on Thursday, May 1st. Benchmark cut their price objective on shares of Extra Space Storage from $61.00 to $55.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Mizuho increased their target price on shares of Extra Space Storage from $141.00 to $153.00 and gave the company an "outperform" rating in a report on Wednesday. Barclays decreased their target price on shares of Extra Space Storage from $181.00 to $178.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $159.38.

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.