Liberty One Investment Management LLC Purchases New Position in Extra Space Storage Inc. (NYSE:EXR)

Liberty One Investment Management LLC bought a new position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 22,080 shares of the real estate investment trust's stock, valued at approximately $3,540,000.

Other institutional investors have also added to or reduced their stakes in the company. NewEdge Wealth LLC acquired a new stake in Extra Space Storage during the third quarter worth about $341,000. Vanguard Personalized Indexing Management LLC boosted its holdings in Extra Space Storage by 110.8% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,914 shares of the real estate investment trust's stock valued at $1,448,000 after purchasing an additional 6,262 shares in the last quarter. Pallas Capital Advisors LLC acquired a new stake in Extra Space Storage during the fourth quarter valued at approximately $1,287,000. Vert Asset Management LLC boosted its holdings in Extra Space Storage by 15.7% during the fourth quarter. Vert Asset Management LLC now owns 85,522 shares of the real estate investment trust's stock valued at $13,712,000 after purchasing an additional 11,612 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Extra Space Storage by 55.7% during the third quarter. Vanguard Group Inc. now owns 33,686,341 shares of the real estate investment trust's stock valued at $4,095,585,000 after purchasing an additional 12,055,172 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on EXR shares. StockNews.com downgraded Extra Space Storage from a "hold" rating to a "sell" rating in a report on Saturday, March 2nd. The Goldman Sachs Group lifted their price objective on Extra Space Storage from $168.00 to $187.00 and gave the company a "buy" rating in a report on Thursday, January 11th. TheStreet upgraded shares of Extra Space Storage from a "c+" rating to a "b-" rating in a research note on Thursday, January 11th. Deutsche Bank Aktiengesellschaft started coverage on shares of Extra Space Storage in a research note on Tuesday, January 30th. They issued a "hold" rating and a $141.00 target price for the company. Finally, Raymond James reiterated an "outperform" rating and issued a $160.00 target price on shares of Extra Space Storage in a research note on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Extra Space Storage currently has an average rating of "Hold" and a consensus price target of $150.17.

Insider Buying and Selling

In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the business's stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total value of $195,750.00. Following the completion of the transaction, the executive vice president now owns 37,028 shares in the company, valued at approximately $5,369,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the company's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the sale, the executive vice president now owns 37,028 shares in the company, valued at approximately $5,369,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Samrat Sondhi sold 2,048 shares of the company's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $146.46, for a total transaction of $299,950.08. Following the sale, the chief marketing officer now owns 94,126 shares of the company's stock, valued at approximately $13,785,693.96. The disclosure for this sale can be found here. Insiders sold 3,532 shares of company stock worth $514,819 in the last quarter. Insiders own 1.55% of the company's stock.

Extra Space Storage Trading Down 6.5 %

EXR stock traded down $9.89 during trading on Wednesday, hitting $142.50. The company had a trading volume of 1,295,976 shares, compared to its average volume of 1,185,413. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.71. The firm has a 50-day moving average price of $143.43 and a 200-day moving average price of $136.80. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $165.85. The stock has a market cap of $30.16 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 3.66 and a beta of 0.74.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($1.01). Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. The company had revenue of $797.77 million during the quarter, compared to the consensus estimate of $778.05 million. During the same quarter last year, the firm earned $2.09 EPS. The business's revenue for the quarter was up 57.4% on a year-over-year basis. As a group, analysts predict that Extra Space Storage Inc. will post 8.05 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend was Thursday, March 14th. Extra Space Storage's dividend payout ratio (DPR) is presently 131.17%.

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.