International Assets Investment Management LLC Acquires New Holdings in Extra Space Storage Inc. (NYSE:EXR)

International Assets Investment Management LLC bought a new position in Extra Space Storage Inc. (NYSE:EXR - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 155,039 shares of the real estate investment trust's stock, valued at approximately $24,857,000. International Assets Investment Management LLC owned 0.07% of Extra Space Storage at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EXR. First Horizon Advisors Inc. increased its position in shares of Extra Space Storage by 1,272.7% in the first quarter. First Horizon Advisors Inc. now owns 151 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 140 shares in the last quarter. Zions Bancorporation N.A. raised its position in Extra Space Storage by 241.9% in the third quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 150 shares during the period. Money Concepts Capital Corp acquired a new position in shares of Extra Space Storage during the fourth quarter worth about $27,000. EverSource Wealth Advisors LLC boosted its position in shares of Extra Space Storage by 162.5% in the third quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust's stock worth $28,000 after buying an additional 143 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Extra Space Storage in the third quarter valued at about $32,000. Institutional investors and hedge funds own 99.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EXR. StockNews.com cut Extra Space Storage from a "hold" rating to a "sell" rating in a report on Saturday, March 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Extra Space Storage in a report on Tuesday, January 30th. They set a "hold" rating and a $141.00 price target for the company. The Goldman Sachs Group boosted their price objective on shares of Extra Space Storage from $168.00 to $187.00 and gave the stock a "buy" rating in a report on Thursday, January 11th. Scotiabank began coverage on Extra Space Storage in a research note on Tuesday, February 13th. They set a "sector underperform" rating and a $131.00 target price for the company. Finally, Raymond James reiterated an "outperform" rating and issued a $160.00 price target on shares of Extra Space Storage in a research note on Thursday, March 28th. Two research 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, the stock has a consensus rating of "Hold" and an average price target of $150.17.

Insider Buying and Selling

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

Extra Space Storage Stock Performance

NYSE:EXR traded up $0.70 during trading hours on Thursday, reaching $143.20. 824,943 shares of the stock were exchanged, compared to its average volume of 1,180,295. The stock has a market capitalization of $30.30 billion, a P/E ratio of 28.99, a P/E/G ratio of 3.66 and a beta of 0.74. The firm has a 50 day simple moving average of $143.39 and a 200-day simple moving average of $136.84. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.71. Extra Space Storage Inc. has a 52 week low of $101.19 and a 52 week high of $165.85.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share (EPS) 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 firm had revenue of $797.77 million for the quarter, compared to the consensus estimate of $778.05 million. During the same quarter last year, the business earned $2.09 earnings per share. The business's revenue for the quarter was up 57.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Extra Space Storage Inc. will post 8.05 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date was Thursday, March 14th. Extra Space Storage's dividend payout ratio is presently 131.17%.

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.