Extra Space Storage Inc. (NYSE:EXR) Position Increased by Nan Shan Life Insurance Co. Ltd.

Nan Shan Life Insurance Co. Ltd. grew its holdings in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 63.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 217,330 shares of the real estate investment trust's stock after buying an additional 84,096 shares during the quarter. Nan Shan Life Insurance Co. Ltd. owned 0.10% of Extra Space Storage worth $32,513,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of EXR. NorthRock Partners LLC purchased a new position in Extra Space Storage in the fourth quarter worth $276,000. OMERS ADMINISTRATION Corp grew its holdings in Extra Space Storage by 20.3% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 8,852 shares of the real estate investment trust's stock worth $1,324,000 after purchasing an additional 1,493 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Extra Space Storage by 4.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,137 shares of the real estate investment trust's stock valued at $3,162,000 after acquiring an additional 933 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of Extra Space Storage by 1,710.8% during the fourth quarter. Lazard Asset Management LLC now owns 2,010 shares of the real estate investment trust's stock valued at $300,000 after acquiring an additional 1,899 shares in the last quarter. Finally, LRT Capital Management LLC lifted its stake in Extra Space Storage by 148.8% during the 4th quarter. LRT Capital Management LLC now owns 14,762 shares of the real estate investment trust's stock valued at $2,208,000 after acquiring an additional 8,829 shares during the period. 99.11% of the stock is currently owned by institutional investors.

Insider Activity

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the 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 completion of the sale, the chief executive officer now owns 9,190 shares of the company's stock, valued at $1,355,065.50. This trade represents a 44.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William N. Springer sold 1,220 shares of the company's stock in a transaction dated Friday, February 28th. The shares were 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 directly owns 20,158 shares of the company's stock, valued at approximately $3,077,320.28. The trade was 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 90 days. 0.96% of the stock is currently owned by insiders.

Extra Space Storage Stock Performance

EXR traded up $0.10 during trading on Monday, reaching $151.86. The company's stock had a trading volume of 140,157 shares, compared to its average volume of 1,053,004. The company has a market capitalization of $32.23 billion, a price-to-earnings ratio of 39.71, a price-to-earnings-growth ratio of 7.76 and a beta of 1.14. The company's fifty day moving average price is $143.10 and its 200-day moving average price is $151.92. Extra Space Storage Inc. has a 52-week low of $121.03 and a 52-week high of $184.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 EPS for the quarter, beating 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 firm had revenue of $820.00 million for the quarter, compared to analysts' expectations of $705.12 million. During the same quarter in the prior year, the firm earned $1.96 EPS. Extra Space Storage's quarterly revenue was up 2.6% on a year-over-year basis. On average, equities analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage's dividend payout ratio (DPR) is 150.35%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on EXR shares. Wells Fargo & Company dropped their target price on 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. Evercore ISI upped their target price on shares of Extra Space Storage from $144.00 to $149.00 and gave the company an "in-line" rating in a research report on Thursday, May 1st. The Goldman Sachs Group restated a "buy" rating on shares of Extra Space Storage in a report on Thursday, March 6th. Benchmark dropped their target price on shares of Extra Space Storage from $61.00 to $55.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Finally, Barclays reduced their price target on shares of Extra Space Storage from $181.00 to $178.00 and set an "overweight" rating for the company in a report on Friday. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $158.46.

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.