9,910 Shares in Extra Space Storage Inc (NYSE:EXR) Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd bought a new position in Extra Space Storage Inc (NYSE:EXR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 9,910 shares of the real estate investment trust's stock, valued at approximately $1,472,000.

Other large investors have also added to or reduced their stakes in the company. Quarry LP grew its stake 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 purchasing an additional 217 shares during the period. Golden State Wealth Management LLC grew its position in shares of Extra Space Storage by 147.0% during the 1st quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust's stock valued at $60,000 after acquiring an additional 241 shares during the period. Parvin Asset Management LLC purchased a new stake in shares of Extra Space Storage in the 4th quarter worth $62,000. Wayfinding Financial LLC bought a new position in Extra Space Storage in the 1st quarter worth $76,000. Finally, Global X Japan Co. Ltd. lifted its position in Extra Space Storage by 24.8% during the first quarter. Global X Japan Co. Ltd. now owns 558 shares of the real estate investment trust's stock valued at $83,000 after purchasing an additional 111 shares in the last quarter. Institutional investors own 99.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Extra Space Storage from $160.00 to $162.00 and gave the stock a "neutral" rating in a research report on Friday, June 13th. Royal Bank Of Canada decreased their target price on shares of Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 1st. Barclays dropped their price target on shares of Extra Space Storage from $181.00 to $178.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Benchmark decreased their price objective on shares of Extra Space Storage from $61.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Finally, Bank of America upped 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, May 13th. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $157.69.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total value of $1,127,625.00. Following the sale, the chief executive officer owned 27,260 shares in the company, valued at $4,098,541. This trade represents a 21.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.96% of the stock is owned by company insiders.

Extra Space Storage Price Performance

NYSE:EXR traded up $0.32 during trading hours on Friday, reaching $150.83. The stock had a trading volume of 866,679 shares, compared to its average volume of 1,052,046. The company has a 50 day moving average price of $149.12 and a two-hundred day moving average price of $148.43. Extra Space Storage Inc has a 52 week low of $121.03 and a 52 week high of $184.87. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.33 and a current ratio of 0.33. The stock has a market capitalization of $32.01 billion, a PE ratio of 35.00, a PEG ratio of 3.66 and a beta of 1.10.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings data 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. The business 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 6.11% and a net margin of 27.84%. The company's quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.96 earnings per share. As a group, sell-side analysts anticipate that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend was Monday, June 16th. Extra Space Storage's payout ratio is currently 150.35%.

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.