NorthRock Partners LLC purchased a new position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,844 shares of the real estate investment trust's stock, valued at approximately $276,000.
Other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in shares of Extra Space Storage in the fourth quarter valued at approximately $25,000. Harbour Investments Inc. increased its holdings in shares of Extra Space Storage by 90.9% in the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 80 shares during the period. Quent Capital LLC increased its holdings in shares of Extra Space Storage by 89.0% in the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust's stock valued at $49,000 after purchasing an additional 154 shares during the period. Asset Planning Inc acquired a new position in shares of Extra Space Storage in the fourth quarter valued at approximately $52,000. Finally, Quarry LP increased its holdings in shares of Extra Space Storage by 156.1% in the fourth quarter. Quarry LP now owns 356 shares of the real estate investment trust's stock valued at $53,000 after purchasing an additional 217 shares during the period. Institutional investors and hedge funds own 99.11% of the company's stock.
Extra Space Storage Price Performance
EXR traded up $1.13 during trading on Friday, reaching $145.91. 829,242 shares of the stock were exchanged, compared to its average volume of 1,055,515. The business's 50 day moving average price is $143.25 and its two-hundred day moving average price is $151.53. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The company has a market capitalization of $30.96 billion, a price-to-earnings ratio of 38.20, a P/E/G ratio of 7.76 and a beta of 1.14. Extra Space Storage Inc. has a 1 year low of $121.03 and a 1 year high of $184.87.
Extra Space Storage (NYSE:EXR - Get Free Report) last posted its 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. The company had revenue of $820.00 million for the quarter, compared to the consensus estimate 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 in the previous year, the business earned $1.96 earnings per share. As a group, equities research analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.
Extra Space Storage Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given 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 yield of 4.44%. Extra Space Storage's payout ratio is 150.35%.
Insiders Place Their Bets
In other news, EVP William N. Springer sold 1,220 shares of the company's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $152.66, for a total value of $186,245.20. Following the sale, the executive vice president now directly owns 20,158 shares in the company, valued at $3,077,320.28. This represents a 5.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total value of $1,105,875.00. Following the completion of the sale, the chief executive officer now owns 9,190 shares in the company, valued at $1,355,065.50. This represents a 44.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,392 shares of company stock worth $1,392,315. 0.96% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on EXR. Barclays dropped their target price on Extra Space Storage from $181.00 to $178.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Mizuho began coverage on Extra Space Storage in a report on Wednesday, April 9th. They issued an "outperform" rating and a $141.00 target price on the stock. The Goldman Sachs Group reissued a "buy" rating on shares of Extra Space Storage in a report on Thursday, March 6th. Bank of America boosted their target price on Extra Space Storage from $155.00 to $161.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Finally, Wells Fargo & Company dropped 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. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $158.46.
Read Our Latest Stock Report on Extra Space Storage
Extra Space Storage Profile
(
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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