LRT Capital Management LLC Boosts Stake in Extra Space Storage Inc. (NYSE:EXR)

LRT Capital Management LLC grew its holdings in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 148.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 14,762 shares of the real estate investment trust's stock after buying an additional 8,829 shares during the quarter. Extra Space Storage makes up about 1.7% of LRT Capital Management LLC's investment portfolio, making the stock its 17th largest holding. LRT Capital Management LLC's holdings in Extra Space Storage were worth $2,208,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Cohen & Steers Inc. lifted its holdings in Extra Space Storage by 5.9% in the 4th quarter. Cohen & Steers Inc. now owns 9,246,133 shares of the real estate investment trust's stock worth $1,383,094,000 after buying an additional 516,941 shares during the period. Norges Bank purchased a new stake in Extra Space Storage in the 4th quarter worth approximately $938,647,000. Dimensional Fund Advisors LP raised its position in shares of Extra Space Storage by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,136,640 shares of the real estate investment trust's stock worth $469,229,000 after acquiring an additional 24,533 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Extra Space Storage by 3.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,064,970 shares of the real estate investment trust's stock worth $458,520,000 after acquiring an additional 104,986 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Extra Space Storage by 48.7% in the 4th quarter. Northern Trust Corp now owns 2,875,049 shares of the real estate investment trust's stock worth $430,107,000 after acquiring an additional 941,212 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company's stock.

Insider Activity at Extra Space Storage

In other news, EVP William N. Springer sold 1,220 shares of the business's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $152.66, for a total value of $186,245.20. Following the transaction, the executive vice president now directly owns 20,158 shares in the company, valued at $3,077,320.28. The trade was a 5.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 9,190 shares in the company, valued at $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. Over the last three months, insiders have sold 9,392 shares of company stock worth $1,392,315. Corporate insiders own 0.96% of the company's stock.

Wall Street Analysts Forecast Growth

EXR has been the subject of several research reports. Barclays decreased their target price on Extra Space Storage from $181.00 to $178.00 and set an "overweight" rating for the company in a research report on Friday. StockNews.com raised Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Wednesday, April 30th. Wells Fargo & Company decreased their target price on Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating for the company in a research report on Friday, February 21st. Evercore ISI increased 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, Bank of America increased their target price on Extra Space Storage from $155.00 to $161.00 and gave the stock a "neutral" rating in a research report on Tuesday. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Extra Space Storage presently has a consensus rating of "Moderate Buy" and a consensus target price of $158.46.

Extra Space Storage Stock Up 2.2%

Shares of Extra Space Storage stock traded up $3.22 on Friday, reaching $151.80. The company's stock had a trading volume of 646,593 shares, compared to its average volume of 1,054,671. The company has a market capitalization of $32.21 billion, a price-to-earnings ratio of 39.74, a P/E/G ratio of 7.76 and a beta of 1.14. The firm's fifty day simple moving average is $143.10 and its two-hundred day simple moving average is $152.08. Extra Space Storage Inc. has a 52 week low of $121.03 and a 52 week high of $184.87. 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 posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $820.00 million during the quarter, compared to analyst estimates of $705.12 million. During the same quarter last year, the company earned $1.96 EPS. The company's quarterly revenue was up 2.6% compared to the same quarter last year. Equities analysts anticipate 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 was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.27%. Extra Space Storage's dividend payout ratio (DPR) is presently 150.35%.

Extra Space Storage Profile

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.