Universal Beteiligungs und Servicegesellschaft mbH Invests $74.98 Million in Extra Space Storage Inc. (NYSE:EXR)

Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Extra Space Storage Inc. (NYSE:EXR - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 501,227 shares of the real estate investment trust's stock, valued at approximately $74,984,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.24% of Extra Space Storage as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new stake in shares of Extra Space Storage during the fourth quarter valued at about $25,000. Harbour Investments Inc. increased its position in shares of Extra Space Storage by 90.9% during the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 80 shares during the period. Quent Capital LLC grew its holdings in shares of Extra Space Storage by 89.0% during the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust's stock worth $49,000 after purchasing an additional 154 shares in the last quarter. Asset Planning Inc bought a new position in shares of Extra Space Storage in the fourth quarter worth approximately $52,000. Finally, Quarry LP increased its position 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 worth $53,000 after purchasing an additional 217 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EXR has been the subject of several recent research reports. The Goldman Sachs Group reiterated a "buy" rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Wall Street Zen upgraded Extra Space Storage from a "sell" rating to a "hold" rating in a report on Wednesday, April 30th. Evercore ISI increased their price objective on Extra Space Storage from $144.00 to $149.00 and gave the stock an "in-line" rating in a report on Thursday, May 1st. Bank of America increased their price objective on Extra Space Storage from $155.00 to $161.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Finally, Royal Bank of Canada decreased their price objective 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. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $159.38.

Extra Space Storage Trading Up 1.4%

Extra Space Storage stock traded up $2.15 during midday trading on Thursday, reaching $150.64. The stock had a trading volume of 759,549 shares, compared to its average volume of 1,057,399. The stock's 50-day simple moving average is $143.38 and its 200 day simple moving average is $151.18. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. Extra Space Storage Inc. has a twelve month low of $121.03 and a twelve month high of $184.87. The stock has a market capitalization of $31.97 billion, a PE ratio of 39.43, a price-to-earnings-growth ratio of 7.76 and a beta of 1.14.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.96 by $0.04. The business had revenue of $820.00 million for the quarter, compared to analyst estimates of $705.12 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.96 earnings per share. Analysts expect that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

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 given a dividend of $1.62 per share. The ex-dividend date is Monday, June 16th. This represents a $6.48 annualized dividend and a dividend yield of 4.30%. Extra Space Storage's dividend payout ratio is presently 150.35%.

Insider Transactions at Extra Space Storage

In other news, Director Joseph J. Bonner sold 672 shares of the business's 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 transaction, the director now directly owns 4,557 shares in the company, valued at $679,448.70. The trade was a 12.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the completion of the sale, the chief executive officer now directly owns 9,190 shares of the company's stock, valued at approximately $1,355,065.50. The trade was a 44.94% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,392 shares of company stock worth $1,392,315. Company insiders own 0.96% of the company's stock.

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.