Tidal Investments LLC lowered its holdings in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 20.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 10,115 shares of the real estate investment trust's stock after selling 2,525 shares during the period. Tidal Investments LLC's holdings in Extra Space Storage were worth $1,513,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Merit Financial Group LLC raised its stake in Extra Space Storage by 163.0% during the fourth quarter. Merit Financial Group LLC now owns 3,124 shares of the real estate investment trust's stock worth $467,000 after buying an additional 1,936 shares during the last quarter. New Century Financial Group LLC bought a new position in Extra Space Storage during the fourth quarter worth $238,000. Exchange Traded Concepts LLC raised its stake in Extra Space Storage by 13.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 861 shares of the real estate investment trust's stock worth $129,000 after buying an additional 104 shares during the last quarter. Curated Wealth Partners LLC raised its stake in Extra Space Storage by 3.6% during the fourth quarter. Curated Wealth Partners LLC now owns 4,838 shares of the real estate investment trust's stock worth $724,000 after buying an additional 170 shares during the last quarter. Finally, Gradient Investments LLC increased its stake in Extra Space Storage by 5.6% in the fourth quarter. Gradient Investments LLC now owns 199,393 shares of the real estate investment trust's stock valued at $29,829,000 after purchasing an additional 10,619 shares in the last quarter. Institutional investors own 99.11% of the company's stock.
Extra Space Storage Price Performance
EXR stock traded up $1.00 during midday trading on Thursday, reaching $149.49. The company had a trading volume of 146,165 shares, compared to its average volume of 1,053,268. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. Extra Space Storage Inc. has a 1 year low of $121.03 and a 1 year high of $184.87. The company has a market capitalization of $31.72 billion, a P/E ratio of 39.23, a P/E/G ratio of 7.76 and a beta of 1.14. The firm has a 50-day moving average price of $143.38 and a 200-day moving average price of $151.18.
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, topping analysts' consensus estimates of $1.96 by $0.04. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business had revenue of $820.00 million during the quarter, compared to analysts' expectations of $705.12 million. During the same quarter in the previous year, the company earned $1.96 EPS. The business's quarterly revenue was up 2.6% compared to the same quarter last year. On average, research analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.
Extra Space Storage Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 dividend yield of 4.33%. Extra Space Storage's dividend payout ratio (DPR) is 150.35%.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on EXR shares. Bank of America lifted their price objective on shares of Extra Space Storage from $155.00 to $161.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Scotiabank boosted their target price on shares of Extra Space Storage from $149.00 to $166.00 and gave the company a "sector outperform" rating in a research note on Monday, May 12th. The Goldman Sachs Group restated a "buy" rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Wells Fargo & Company dropped their price target on shares of Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating on the stock in a research note on Friday, February 21st. Finally, Wall Street Zen raised shares of Extra Space Storage from a "sell" rating to a "hold" rating in a report on Wednesday, April 30th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Extra Space Storage presently has a consensus rating of "Moderate Buy" and a consensus target price of $159.38.
Check Out Our Latest Research Report on Extra Space Storage
Insider Activity
In other Extra Space Storage news, EVP William N. Springer sold 1,220 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $152.66, for a total transaction of $186,245.20. Following the completion of the sale, the executive vice president now owns 20,158 shares of the company's stock, valued at $3,077,320.28. This represents a 5.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph J. Bonner sold 672 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $149.10, for a total transaction of $100,195.20. Following the sale, the director now directly owns 4,557 shares of the company's stock, valued at $679,448.70. The trade was a 12.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,392 shares of company stock valued at $1,392,315. Corporate insiders own 0.96% of the company's stock.
Extra Space Storage Company 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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