Hartline Investment Corp reduced its stake in Extra Space Storage Inc (NYSE:EXR - Free Report) by 23.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,276 shares of the real estate investment trust's stock after selling 1,648 shares during the period. Hartline Investment Corp's holdings in Extra Space Storage were worth $783,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of EXR. Norges Bank acquired a new position in Extra Space Storage in the 4th quarter valued at about $938,647,000. Northern Trust Corp grew its position in Extra Space Storage by 48.7% in the 4th quarter. Northern Trust Corp now owns 2,875,049 shares of the real estate investment trust's stock valued at $430,107,000 after acquiring an additional 941,212 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in Extra Space Storage in the 4th quarter valued at about $107,453,000. Cohen & Steers Inc. grew its position in 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 in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Extra Space Storage during the fourth quarter worth about $74,984,000. 99.11% of the stock is currently owned by hedge funds and other institutional investors.
Extra Space Storage Stock Performance
EXR stock traded down $4.02 on Monday, hitting $148.86. The company's stock had a trading volume of 1,225,545 shares, compared to its average volume of 1,065,340. The firm has a 50 day moving average of $148.50 and a two-hundred day moving average of $148.36. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $184.87. The stock has a market cap of $31.59 billion, a price-to-earnings ratio of 34.54, a price-to-earnings-growth ratio of 3.71 and a beta of 1.10. 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 released its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 EPS for the quarter, beating the consensus estimate of $1.96 by $0.04. Extra Space Storage had a net margin of 27.84% and a return on equity of 6.11%. The firm had revenue of $820.00 million during the quarter, compared to the consensus estimate of $705.12 million. During the same quarter in the prior year, the firm earned $1.96 EPS. Extra Space Storage's revenue for the quarter was up 2.6% on a year-over-year basis. Equities analysts predict that Extra Space Storage Inc will post 8.1 EPS 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. Shareholders of record on Monday, June 16th were paid a $1.62 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $6.48 annualized dividend and a yield of 4.35%. Extra Space Storage's dividend payout ratio is currently 150.35%.
Analysts Set New Price Targets
A number of equities analysts have recently commented on EXR shares. Benchmark lowered their price objective 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. Bank of America boosted their price objective on Extra Space Storage from $155.00 to $161.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. boosted their price objective 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. Mizuho boosted their price objective on Extra Space Storage from $141.00 to $153.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 28th. Finally, Barclays lowered their price objective on 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. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $159.29.
Read Our Latest Report on Extra Space Storage
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 value of $1,127,625.00. Following the transaction, the chief executive officer directly owned 27,260 shares of the company's stock, valued at approximately $4,098,541. The trade was a 21.58% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.36% of the company's stock.
Extra Space Storage Profile
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Free Report)
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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