Extra Space Storage Inc. (NYSE:EXR) is Vert Asset Management LLC's 7th Largest Position

Vert Asset Management LLC grew its stake in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 6.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,270 shares of the real estate investment trust's stock after buying an additional 5,797 shares during the period. Extra Space Storage makes up about 5.1% of Vert Asset Management LLC's holdings, making the stock its 7th biggest holding. Vert Asset Management LLC's holdings in Extra Space Storage were worth $14,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Oregon Public Employees Retirement Fund raised its holdings in Extra Space Storage by 0.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,160 shares of the real estate investment trust's stock valued at $2,717,000 after buying an additional 66 shares during the last quarter. Lindbrook Capital LLC grew its position in Extra Space Storage by 14.9% during the 4th quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust's stock valued at $78,000 after purchasing an additional 68 shares during the last quarter. Aptus Capital Advisors LLC lifted its stake in Extra Space Storage by 4.3% during the 4th quarter. Aptus Capital Advisors LLC now owns 1,638 shares of the real estate investment trust's stock valued at $245,000 after acquiring an additional 68 shares during the period. Siemens Fonds Invest GmbH lifted its stake in shares of Extra Space Storage by 3.0% in the 4th quarter. Siemens Fonds Invest GmbH now owns 2,320 shares of the real estate investment trust's stock worth $342,000 after purchasing an additional 68 shares during the period. Finally, Quadrant Capital Group LLC lifted its stake in shares of Extra Space Storage by 5.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,327 shares of the real estate investment trust's stock worth $199,000 after purchasing an additional 73 shares during the period. Hedge funds and other institutional investors own 99.11% of the company's stock.

Insider Buying and Selling at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the business's 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 sale, the chief executive officer now owns 9,190 shares in the company, valued at $1,355,065.50. The trade was a 44.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Joseph J. Bonner sold 672 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $149.10, for a total value 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. Corporate insiders own 0.96% of the company's stock.

Extra Space Storage Trading Up 0.3%

Shares of NYSE EXR opened at $149.93 on Monday. The firm has a market capitalization of $31.82 billion, a PE ratio of 39.25, a PEG ratio of 7.76 and a beta of 1.11. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a one year low of $121.03 and a one year high of $184.87. The business has a 50-day moving average price of $143.99 and a two-hundred day moving average price of $150.29.

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 EPS for the quarter, topping the consensus estimate of $1.96 by $0.04. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company had revenue of $820.00 million for the quarter, compared to the consensus estimate of $705.12 million. During the same period in the previous year, the business posted $1.96 EPS. The company's revenue for the quarter was up 2.6% on a year-over-year basis. As a group, analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $6.48 dividend on an annualized basis and a yield of 4.32%. Extra Space Storage's dividend payout ratio is 150.35%.

Analysts Set New Price Targets

A number of research firms recently weighed in on EXR. The Goldman Sachs Group reissued a "buy" rating on shares of Extra Space Storage in a report on Thursday, March 6th. Benchmark decreased their target price on Extra Space Storage from $61.00 to $55.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Wall Street Zen upgraded Extra Space Storage from a "sell" rating to a "hold" rating in a report on Wednesday, April 30th. Royal Bank of Canada dropped their price target on 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. Finally, Bank of America upped their target price on Extra Space Storage from $155.00 to $161.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Extra Space Storage currently has an average rating of "Moderate Buy" and a consensus target price of $159.33.

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.

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