IFM Investors Pty Ltd Raises Holdings in Extra Space Storage Inc (NYSE:EXR)

IFM Investors Pty Ltd raised its position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 4.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,784 shares of the real estate investment trust's stock after buying an additional 3,858 shares during the period. IFM Investors Pty Ltd's holdings in Extra Space Storage were worth $13,481,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. GF Fund Management CO. LTD. boosted its position in shares of Extra Space Storage by 4.3% during the first quarter. GF Fund Management CO. LTD. now owns 4,015 shares of the real estate investment trust's stock worth $596,000 after buying an additional 164 shares during the period. Checchi Capital Advisers LLC boosted its position in shares of Extra Space Storage by 39.5% during the first quarter. Checchi Capital Advisers LLC now owns 4,813 shares of the real estate investment trust's stock worth $715,000 after buying an additional 1,364 shares during the period. D.A. Davidson & CO. boosted its position in shares of Extra Space Storage by 7.2% during the first quarter. D.A. Davidson & CO. now owns 1,895 shares of the real estate investment trust's stock worth $281,000 after buying an additional 127 shares during the period. Moody Lynn & Lieberson LLC boosted its position in shares of Extra Space Storage by 0.7% during the first quarter. Moody Lynn & Lieberson LLC now owns 28,170 shares of the real estate investment trust's stock worth $4,183,000 after buying an additional 187 shares during the period. Finally, Keybank National Association OH raised its stake in shares of Extra Space Storage by 7.1% in the first quarter. Keybank National Association OH now owns 12,109 shares of the real estate investment trust's stock valued at $1,798,000 after acquiring an additional 804 shares in the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Evercore ISI lifted their target price on Extra Space Storage from $144.00 to $149.00 and gave the company an "in-line" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. lifted their target price on Extra Space Storage from $160.00 to $162.00 and gave the company a "neutral" rating in a report on Friday, June 13th. BNP Paribas upgraded Extra Space Storage to a "hold" rating in a report on Tuesday, June 24th. 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 report on Tuesday, May 13th. Finally, Royal Bank Of Canada decreased their target price on Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating for the company in a report on Thursday, May 1st. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $159.29.

Insider Activity

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total transaction of $1,127,625.00. Following the transaction, the chief executive officer owned 27,260 shares of the company's stock, valued at approximately $4,098,541. This trade represents a 21.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.36% of the company's stock.

Extra Space Storage Stock Down 2.6%

Extra Space Storage stock traded down $4.02 during midday trading on Monday, reaching $148.86. The company's stock had a trading volume of 1,225,545 shares, compared to its average volume of 1,065,340. Extra Space Storage Inc has a fifty-two week low of $121.03 and a fifty-two week high of $184.87. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.85. The company has a market cap of $31.59 billion, a P/E ratio of 34.54, a P/E/G ratio of 3.71 and a beta of 1.10. The business has a 50-day simple moving average of $148.64 and a 200-day simple moving average of $148.37.

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 earnings per share for the quarter, beating 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 company had revenue of $820.00 million for the quarter, compared to analysts' expectations of $705.12 million. During the same period last year, the firm earned $1.96 earnings per share. Extra Space Storage's quarterly revenue was up 2.6% on a year-over-year basis. On average, research analysts expect 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. Shareholders of record on Monday, June 16th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.35%. The ex-dividend date of this dividend was Monday, June 16th. Extra Space Storage's payout ratio is 150.35%.

About Extra Space Storage

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.