Extra Space Storage Inc (NYSE:EXR) Shares Acquired by Global Wealth Management Investment Advisory Inc.

Global Wealth Management Investment Advisory Inc. grew its position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 23.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,212 shares of the real estate investment trust's stock after acquiring an additional 4,393 shares during the quarter. Global Wealth Management Investment Advisory Inc.'s holdings in Extra Space Storage were worth $3,447,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EXR. Norges Bank acquired a new stake in Extra Space Storage during the 4th quarter worth approximately $938,647,000. Northern Trust Corp increased its position in shares of Extra Space Storage by 48.7% in the fourth quarter. Northern Trust Corp now owns 2,875,049 shares of the real estate investment trust's stock worth $430,107,000 after acquiring an additional 941,212 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Extra Space Storage in the fourth quarter worth $107,453,000. Cohen & Steers Inc. raised its stake in shares of Extra Space Storage by 5.9% in the 4th quarter. Cohen & Steers Inc. now owns 9,246,133 shares of the real estate investment trust's stock valued at $1,383,094,000 after acquiring an additional 516,941 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Extra Space Storage during the 4th quarter valued at $74,984,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Stock Up 0.6%

EXR stock traded up $0.99 during mid-day trading on Friday, hitting $152.77. 835,966 shares of the company were exchanged, compared to its average volume of 1,062,376. The firm has a fifty day simple moving average of $148.27 and a 200 day simple moving average of $148.32. The company has a market capitalization of $32.42 billion, a PE ratio of 35.44, a price-to-earnings-growth ratio of 3.71 and a beta of 1.10. Extra Space Storage Inc has a twelve month low of $121.03 and a twelve month high of $184.87. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.85.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly 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. Extra Space Storage had a return on equity of 6.11% and a net margin of 27.84%. The business had revenue of $820.00 million during the quarter, compared to the consensus estimate of $705.12 million. During the same period last year, the firm earned $1.96 earnings per share. The company's revenue for the quarter was up 2.6% compared to the same quarter last year. On average, research analysts forecast that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.24%. The ex-dividend date of this dividend was Monday, June 16th. Extra Space Storage's dividend payout ratio (DPR) is presently 150.35%.

Insider Transactions at Extra Space Storage

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. BNP Paribas Exane initiated coverage on Extra Space Storage in a research report on Tuesday, June 24th. They issued a "neutral" rating and a $156.00 price objective on the stock. Scotiabank raised their target price on Extra Space Storage from $149.00 to $166.00 and gave the company a "sector outperform" rating in a report on Monday, May 12th. JPMorgan Chase & Co. boosted 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. Benchmark lowered 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 report on Tuesday, May 13th. Finally, Mizuho lifted their price objective on shares of Extra Space Storage from $141.00 to $153.00 and gave the company an "outperform" rating in a research note on Wednesday, May 28th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $159.29.

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.