Extra Space Storage Inc. (NYSE:EXR) Holdings Boosted by Vert Asset Management LLC

Vert Asset Management LLC increased its position in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 6.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 99,270 shares of the real estate investment trust's stock after purchasing an additional 5,797 shares during the quarter. Extra Space Storage makes up 5.1% of Vert Asset Management LLC's portfolio, making the stock its 7th largest holding. Vert Asset Management LLC's holdings in Extra Space Storage were worth $14,741,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of EXR. Mirae Asset Global Investments Co. Ltd. lifted its position in Extra Space Storage by 4.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,583 shares of the real estate investment trust's stock valued at $5,112,000 after purchasing an additional 1,531 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Extra Space Storage by 1.0% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 806,509 shares of the real estate investment trust's stock worth $120,654,000 after buying an additional 8,090 shares during the last quarter. Lecap Asset Management Ltd. acquired a new position in Extra Space Storage during the fourth quarter worth $563,000. Golden State Wealth Management LLC bought a new stake in shares of Extra Space Storage in the 4th quarter valued at about $25,000. Finally, Apollon Wealth Management LLC lifted its holdings in Extra Space Storage by 12.8% during the 4th quarter. Apollon Wealth Management LLC now owns 4,747 shares of the real estate investment trust's stock valued at $710,000 after purchasing an additional 538 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EXR has been the subject of several recent research reports. Scotiabank boosted their price target on Extra Space Storage from $149.00 to $166.00 and gave the company a "sector outperform" rating in a research note on Monday, May 12th. Mizuho upped their price target on shares of Extra Space Storage from $141.00 to $153.00 and gave the company an "outperform" rating in a research report on Wednesday, May 28th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Evercore ISI increased their target price 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. Finally, Wells Fargo & Company cut their target price on Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating on the stock in a report on Friday, February 21st. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $159.33.

Extra Space Storage Price Performance

Shares of Extra Space Storage stock traded up $0.18 during trading on Thursday, reaching $150.45. 812,498 shares of the stock traded hands, compared to its average volume of 1,061,038. 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 52-week low of $121.03 and a 52-week high of $184.87. The business has a fifty day simple moving average of $144.43 and a two-hundred day simple moving average of $150.18. The company has a market capitalization of $31.93 billion, a price-to-earnings ratio of 39.38, a P/E/G ratio of 7.76 and a beta of 1.11.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.96 by $0.04. The firm had revenue of $820.00 million during the quarter, compared to analyst estimates of $705.12 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. Extra Space Storage's quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the company earned $1.96 EPS. Sell-side analysts expect that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.31%. Extra Space Storage's payout ratio is currently 150.35%.

Insider Activity

In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction dated 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 approximately $1,355,065.50. This trade represents a 44.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.36% of the company's stock.

Extra Space Storage 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.