abrdn plc Purchases 135,497 Shares of Extra Space Storage Inc. (NYSE:EXR)

abrdn plc increased its holdings in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 141.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 231,409 shares of the real estate investment trust's stock after buying an additional 135,497 shares during the period. abrdn plc owned about 0.11% of Extra Space Storage worth $37,102,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Whittier Trust Co. boosted its position in Extra Space Storage by 4.5% during the 4th quarter. Whittier Trust Co. now owns 1,656 shares of the real estate investment trust's stock worth $266,000 after buying an additional 72 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Extra Space Storage by 162.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 143 shares during the period. Zions Bancorporation N.A. lifted its position in shares of Extra Space Storage by 241.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 150 shares during the period. Marshall Financial Group LLC lifted its position in shares of Extra Space Storage by 3.1% in the 3rd quarter. Marshall Financial Group LLC now owns 5,132 shares of the real estate investment trust's stock worth $624,000 after purchasing an additional 154 shares during the period. Finally, Gallacher Capital Management LLC lifted its position in shares of Extra Space Storage by 2.0% in the 3rd quarter. Gallacher Capital Management LLC now owns 7,914 shares of the real estate investment trust's stock worth $962,000 after purchasing an additional 154 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EXR has been the topic of a number of recent analyst reports. TheStreet upgraded shares of Extra Space Storage from a "c+" rating to a "b-" rating in a research report on Thursday, January 11th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Extra Space Storage in a research report on Tuesday, January 30th. They issued a "hold" rating and a $141.00 price target on the stock. StockNews.com downgraded shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research report on Saturday, March 2nd. The Goldman Sachs Group boosted their price target on shares of Extra Space Storage from $168.00 to $187.00 and gave the stock a "buy" rating in a research report on Thursday, January 11th. Finally, Barclays began coverage on shares of Extra Space Storage in a research report on Wednesday, March 27th. They issued an "overweight" rating and a $157.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Extra Space Storage has a consensus rating of "Hold" and a consensus target price of $150.17.

Insider Buying and Selling at Extra Space Storage

In other 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 value 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CMO Samrat Sondhi sold 2,048 shares of the business's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $146.46, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the company's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the sale, the executive vice president now directly owns 37,028 shares in the company, valued at $5,369,060. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,532 shares of company stock worth $514,819. 1.36% of the stock is owned by corporate insiders.

Extra Space Storage Trading Up 0.4 %

Shares of NYSE:EXR traded up $0.56 during mid-day trading on Tuesday, hitting $133.30. The company had a trading volume of 1,162,797 shares, compared to its average volume of 1,176,149. The company has a market capitalization of $28.21 billion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 3.25 and a beta of 0.74. The firm has a fifty day moving average price of $142.39 and a 200 day moving average price of $137.93. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.30 and a quick ratio of 0.30. Extra Space Storage Inc. has a one year low of $101.19 and a one year high of $164.99.

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

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $1.62 per share. The ex-dividend date was Thursday, March 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.86%. Extra Space Storage's dividend payout ratio (DPR) 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.