Mercer Global Advisors Inc. ADV Has $3.54 Million Stake in Extra Space Storage Inc. (NYSE:EXR)

Mercer Global Advisors Inc. ADV raised its position in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 556.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,686 shares of the real estate investment trust's stock after buying an additional 20,076 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Extra Space Storage were worth $3,543,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in shares of Extra Space Storage during the fourth quarter worth approximately $25,000. Harbour Investments Inc. lifted its position 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 in the last quarter. Quent Capital LLC lifted its position 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 in the last quarter. Asset Planning Inc acquired a new position in shares of Extra Space Storage during the fourth quarter worth approximately $52,000. Finally, Quarry LP raised its stake in shares of Extra Space Storage by 156.1% during the fourth quarter. Quarry LP now owns 356 shares of the real estate investment trust's stock worth $53,000 after buying an additional 217 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Tuesday, April 1st. The shares were 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 in the company, valued at approximately $1,355,065.50. This represents a 44.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph J. Bonner sold 672 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $149.10, for a total transaction of $100,195.20. Following the transaction, the director now owns 4,557 shares of the company's stock, valued at $679,448.70. The trade was a 12.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,392 shares of company stock valued at $1,392,315 over the last quarter. Corporate insiders own 0.96% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on EXR shares. Mizuho started coverage on shares of Extra Space Storage in a research note on Wednesday, April 9th. They set an "outperform" rating and a $141.00 price target for the company. Barclays dropped their price target on shares of Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating for the company in a research note on Wednesday, March 12th. Wells Fargo & Company dropped their price target on shares of Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating for the company in a research note on Friday, February 21st. Evercore ISI boosted their price target on shares of Extra Space Storage from $144.00 to $149.00 and gave the stock an "in-line" rating in a research note on Thursday, May 1st. Finally, Royal Bank of Canada dropped their price target on shares of Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Extra Space Storage has an average rating of "Moderate Buy" and an average target price of $165.42.

Extra Space Storage Stock Up 0.9%

Shares of EXR stock traded up $1.29 during trading hours on Friday, hitting $148.72. 522,257 shares of the company were exchanged, compared to its average volume of 1,054,351. The business has a 50 day moving average of $143.80 and a two-hundred day moving average of $152.51. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 52 week low of $121.03 and a 52 week high of $184.87. The company has a market capitalization of $31.56 billion, a PE ratio of 38.93, a PEG ratio of 7.76 and a beta of 1.14.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.04. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The company had revenue of $820.00 million during the quarter, compared to the consensus estimate of $705.12 million. During the same quarter in the prior year, the firm earned $1.96 earnings per share. The firm's revenue was up 2.6% compared to the same quarter last year. Analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage's dividend payout ratio is 150.35%.

Extra Space Storage Company 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.