Vise Technologies Inc. Buys New Holdings in Extra Space Storage Inc. (NYSE:EXR)

Vise Technologies Inc. acquired a new position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,689 shares of the real estate investment trust's stock, valued at approximately $253,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of EXR. Golden State Wealth Management LLC purchased a new position in shares of Extra Space Storage in the 4th quarter valued at approximately $25,000. Harbour Investments Inc. lifted its holdings 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 worth $25,000 after purchasing an additional 80 shares during the period. Quent Capital LLC lifted 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 during the period. Asset Planning Inc purchased a new position in Extra Space Storage in the 4th quarter valued at $52,000. Finally, Quarry LP increased its stake in Extra Space Storage by 156.1% in the 4th quarter. Quarry LP now owns 356 shares of the real estate investment trust's stock valued at $53,000 after buying an additional 217 shares during the period. 99.11% of the stock is owned by hedge funds and other institutional investors.

Extra Space Storage Trading Up 1.2%

Shares of EXR traded up $1.85 on Monday, hitting $153.00. 1,123,016 shares of the stock traded hands, compared to its average volume of 1,060,525. Extra Space Storage Inc. has a 1 year low of $121.03 and a 1 year high of $184.87. The stock's 50 day moving average is $143.75 and its two-hundred day moving average is $150.74. The firm has a market capitalization of $32.47 billion, a P/E ratio of 40.05, a P/E/G ratio of 7.76 and a beta of 1.14. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.04. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company had revenue of $820.00 million during the quarter, compared to the consensus estimate of $705.12 million. During the same period in the previous year, the firm posted $1.96 EPS. Extra Space Storage's revenue was up 2.6% on a year-over-year basis. As a group, sell-side analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 annualized dividend and a yield of 4.24%. Extra Space Storage's payout ratio is currently 150.35%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Mizuho raised their target price on shares of Extra Space Storage from $141.00 to $153.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 28th. Benchmark cut their price target on shares of Extra Space Storage from $61.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Bank of America raised their price objective on shares of Extra Space Storage from $155.00 to $161.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Evercore ISI boosted their target price on Extra Space Storage from $144.00 to $149.00 and gave the stock an "in-line" rating in a research report on Thursday, May 1st. Finally, Barclays cut their target price on Extra Space Storage from $181.00 to $178.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, Extra Space Storage presently has an average rating of "Moderate Buy" and an average price target of $159.38.

Insider Buying and Selling

In other news, Director Joseph J. Bonner sold 672 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $149.10, for a total transaction of $100,195.20. Following the completion of the transaction, the director now owns 4,557 shares of the company's stock, valued at $679,448.70. This represents a 12.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the transaction, the chief executive officer now owns 9,190 shares in the company, valued at approximately $1,355,065.50. The trade was a 44.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by company insiders.

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.