Vident Advisory LLC increased its holdings in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 56.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,254 shares of the real estate investment trust's stock after acquiring an additional 5,155 shares during the period. Vident Advisory LLC's holdings in Extra Space Storage were worth $2,133,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Manning & Napier Advisors LLC lifted its stake in Extra Space Storage by 1,127.2% in the 4th quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust's stock worth $116,985,000 after acquiring an additional 718,266 shares in the last quarter. Vert Asset Management LLC increased its holdings in shares of Extra Space Storage by 8.0% during the 4th quarter. Vert Asset Management LLC now owns 93,473 shares of the real estate investment trust's stock valued at $13,984,000 after acquiring an additional 6,910 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Extra Space Storage by 134.3% during the 4th quarter. Pacer Advisors Inc. now owns 167,735 shares of the real estate investment trust's stock valued at $25,093,000 after acquiring an additional 96,136 shares during the last quarter. Brentview Investment Management LLC acquired a new position in shares of Extra Space Storage during the 4th quarter valued at about $2,852,000. Finally, D.B. Root & Company LLC acquired a new stake in Extra Space Storage in the 4th quarter valued at approximately $313,000. 99.11% of the stock is owned by hedge funds and other institutional investors.
Extra Space Storage Price Performance
Shares of Extra Space Storage stock traded up $1.13 during midday trading on Friday, hitting $145.91. 829,242 shares of the company were exchanged, compared to its average volume of 1,057,908. 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 firm has a market cap of $30.96 billion, a P/E ratio of 38.20, a PEG ratio of 7.76 and a beta of 1.14. Extra Space Storage Inc. has a 52 week low of $121.03 and a 52 week high of $184.87. The firm has a 50 day simple moving average of $143.25 and a 200-day simple moving average of $151.53.
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 the consensus estimate of $1.96 by $0.04. The business had revenue of $820.00 million during 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 revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company earned $1.96 EPS. Research analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.
Extra Space Storage Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 annualized dividend and a dividend yield of 4.44%. Extra Space Storage's dividend payout ratio (DPR) is presently 150.35%.
Insider Buying and Selling
In other Extra Space Storage news, Director Joseph J. Bonner sold 672 shares of Extra Space Storage stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $149.10, for a total value of $100,195.20. Following the completion of the transaction, the director now owns 4,557 shares in the company, valued at approximately $679,448.70. The trade was a 12.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction on Friday, February 28th. The shares were sold at an average price of $152.66, for a total value of $186,245.20. Following the completion of the transaction, the executive vice president now owns 20,158 shares of the company's stock, valued at approximately $3,077,320.28. The trade was a 5.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,392 shares of company stock worth $1,392,315 in the last 90 days. 0.96% of the stock is owned by company insiders.
Analysts Set New Price Targets
EXR has been the topic of a number of research analyst reports. Benchmark lowered their target price on Extra Space Storage from $61.00 to $55.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Extra Space Storage in a report on Thursday, March 6th. Wells Fargo & Company lowered 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. Scotiabank raised their target price on Extra Space Storage from $149.00 to $166.00 and gave the company a "sector outperform" rating in a report on Monday, May 12th. Finally, Bank of America raised 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. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Extra Space Storage currently has a consensus rating of "Moderate Buy" and an average target price of $158.46.
Check Out Our Latest Research Report on EXR
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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