Woodline Partners LP bought a new position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 151,413 shares of the real estate investment trust's stock, valued at approximately $22,651,000. Woodline Partners LP owned approximately 0.07% of Extra Space Storage as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. Manning & Napier Advisors LLC boosted its position in shares of Extra Space Storage by 1,127.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust's stock valued at $116,985,000 after acquiring an additional 718,266 shares during the last quarter. Vert Asset Management LLC raised its stake in Extra Space Storage by 8.0% in the fourth quarter. Vert Asset Management LLC now owns 93,473 shares of the real estate investment trust's stock valued at $13,984,000 after purchasing an additional 6,910 shares in the last quarter. Pacer Advisors Inc. raised its stake in Extra Space Storage by 134.3% in the fourth quarter. Pacer Advisors Inc. now owns 167,735 shares of the real estate investment trust's stock valued at $25,093,000 after purchasing an additional 96,136 shares in the last quarter. Brentview Investment Management LLC bought a new stake in Extra Space Storage during the fourth quarter valued at approximately $2,852,000. Finally, D.B. Root & Company LLC purchased a new position in Extra Space Storage in the 4th quarter worth approximately $313,000. 99.11% of the stock is currently owned by institutional investors.
Insider Activity
In other news, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction that occurred 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 approximately $3,077,320.28. This trade represents a 5.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 9,190 shares in the company, valued at $1,355,065.50. This trade 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 sold 9,392 shares of company stock valued at $1,392,315. Insiders own 0.96% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on EXR shares. Wells Fargo & Company lowered their price objective on shares of Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating on the stock in a research report on Friday, February 21st. StockNews.com raised Extra Space Storage from a "sell" rating to a "hold" rating in a research note on Wednesday, April 30th. Benchmark lowered their price target on Extra Space Storage from $61.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Evercore ISI upped 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. Finally, Bank of America increased their price objective on Extra Space Storage from $155.00 to $161.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Extra Space Storage presently has a consensus rating of "Moderate Buy" and a consensus target price of $158.46.
View Our Latest Stock Report on Extra Space Storage
Extra Space Storage Trading Down 0.3%
Shares of EXR stock opened at $152.11 on Wednesday. The stock has a market capitalization of $32.28 billion, a PE ratio of 39.82, 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. The business has a 50-day moving average of $143.32 and a 200 day moving average of $151.86. 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 (NYSE:EXR - Get Free Report) last announced its quarterly earnings data 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. The firm 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%. The business's revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.96 earnings per share. As a group, sell-side analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.
Extra Space Storage Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.26%. The ex-dividend date was Friday, March 14th. Extra Space Storage's dividend payout ratio (DPR) is 150.35%.
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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