Worldquant Millennium Advisors LLC Raises Stake in Extra Space Storage Inc. (NYSE:EXR)

Worldquant Millennium Advisors LLC increased its stake in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 125.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 230,307 shares of the real estate investment trust's stock after acquiring an additional 128,167 shares during the quarter. Worldquant Millennium Advisors LLC owned 0.11% of Extra Space Storage worth $34,454,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new position in shares of Extra Space Storage in the fourth quarter valued at $25,000. Harbour Investments Inc. raised its holdings in shares of Extra Space Storage by 90.9% in the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 80 shares during the last quarter. Quent Capital LLC lifted its position in Extra Space Storage by 89.0% in the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust's stock valued at $49,000 after acquiring an additional 154 shares in the last quarter. Asset Planning Inc bought a new position in Extra Space Storage in the 4th quarter valued at about $52,000. Finally, Quarry LP boosted its stake in Extra Space Storage by 156.1% during the 4th quarter. Quarry LP now owns 356 shares of the real estate investment trust's stock valued at $53,000 after purchasing an additional 217 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Bank of America raised their price objective on Extra Space Storage from $155.00 to $161.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Royal Bank of Canada dropped their target price on shares of Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 1st. Mizuho assumed coverage on Extra Space Storage in a research note on Wednesday, April 9th. They issued an "outperform" rating and a $141.00 target price on the stock. Scotiabank increased their price target on Extra Space Storage from $149.00 to $166.00 and gave the company a "sector outperform" rating in a research report on Monday, May 12th. Finally, Barclays cut their price objective on Extra Space Storage from $181.00 to $178.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Extra Space Storage presently has an average rating of "Moderate Buy" and an average target price of $158.46.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business's 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 completion of the transaction, the chief executive officer now 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William N. Springer sold 1,220 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following the completion of the transaction, the executive vice president now owns 20,158 shares in the company, valued at approximately $3,077,320.28. This trade represents a 5.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,392 shares of company stock valued at $1,392,315 in the last three months. Company insiders own 0.96% of the company's stock.

Extra Space Storage Stock Performance

Shares of NYSE:EXR traded up $1.13 during midday trading on Monday, reaching $145.91. 829,242 shares of the company traded hands, compared to its average volume of 1,057,908. Extra Space Storage Inc. has a 12 month low of $121.03 and a 12 month high of $184.87. The firm's fifty day moving average price is $143.25 and its two-hundred day moving average price is $151.37. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $30.96 billion, a price-to-earnings ratio of 38.20, 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 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 firm had revenue of $820.00 million for the quarter, compared to analysts' expectations of $705.12 million. During the same period in the prior year, the business posted $1.96 earnings per share. The company's revenue was up 2.6% on a year-over-year basis. On average, equities analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.44%. The ex-dividend date is Monday, June 16th. Extra Space Storage's dividend payout ratio is presently 150.35%.

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.