Demars Financial Group LLC lowered its position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 93.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,726 shares of the real estate investment trust's stock after selling 25,905 shares during the quarter. Demars Financial Group LLC's holdings in Extra Space Storage were worth $277,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of EXR. Vanguard Group Inc. raised its position in shares of Extra Space Storage by 55.7% in the 3rd 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. JPMorgan Chase & Co. raised its position in shares of Extra Space Storage by 599.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,345,787 shares of the real estate investment trust's stock valued at $406,781,000 after purchasing an additional 2,867,657 shares in the last quarter. Diamond Hill Capital Management Inc. acquired a new position in shares of Extra Space Storage in the 3rd quarter valued at approximately $173,621,000. First Eagle Investment Management LLC raised its position in shares of Extra Space Storage by 233,362.8% in the 3rd quarter. First Eagle Investment Management LLC now owns 1,323,734 shares of the real estate investment trust's stock valued at $160,940,000 after purchasing an additional 1,323,167 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Extra Space Storage by 22.1% in the 3rd quarter. Principal Financial Group Inc. now owns 6,505,834 shares of the real estate investment trust's stock valued at $790,975,000 after purchasing an additional 1,178,760 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company's stock.
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 sale, the executive vice president now directly owns 37,028 shares in the company, valued at approximately $5,369,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sale, the executive vice president now directly owns 37,028 shares in the company, valued at approximately $5,369,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Samrat Sondhi sold 2,048 shares of the business's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $146.46, for a total transaction of $299,950.08. Following the completion of the sale, the chief marketing officer now owns 94,126 shares in the company, valued at $13,785,693.96. The disclosure for this sale can be found here. Insiders have sold 3,532 shares of company stock worth $514,819 in the last ninety days. 1.36% of the stock is currently owned by corporate insiders.
Extra Space Storage Price Performance
Shares of EXR stock traded up $1.36 during midday trading on Wednesday, reaching $134.64. 1,147,456 shares of the company were exchanged, compared to its average volume of 1,175,786. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $164.99. The company has a market cap of $28.49 billion, a P/E ratio of 27.26, a PEG ratio of 3.26 and a beta of 0.74. The company's 50 day moving average price is $142.19 and its two-hundred day moving average price is $138.01. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.30 and a current ratio of 0.30.
Extra Space Storage (NYSE:EXR - Get Free Report) last released 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). 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 for the quarter, compared to the consensus estimate of $778.05 million. During the same quarter last year, the firm posted $2.09 earnings per share. The firm's quarterly revenue was up 57.4% compared to the same quarter last year. On average, sell-side analysts expect that Extra Space Storage Inc. will post 8.05 earnings per share for the current year.
Extra Space Storage Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.81%. Extra Space Storage's dividend payout ratio (DPR) is 131.17%.
Analyst Ratings Changes
A number of equities analysts have issued reports on the company. StockNews.com lowered Extra Space Storage from a "hold" rating to a "sell" rating in a research report on Saturday, March 2nd. Truist Financial upped their price target on Extra Space Storage from $138.00 to $152.00 and gave the company a "hold" rating in a research report on Thursday, December 28th. Barclays initiated coverage on Extra Space Storage in a research report on Wednesday, March 27th. They set an "overweight" rating and a $157.00 price target on the stock. TheStreet raised Extra Space Storage from a "c+" rating to a "b-" rating in a research report on Thursday, January 11th. Finally, Raymond James restated an "outperform" rating and set a $160.00 price objective 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 assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $150.17.
Read Our Latest Research Report on EXR
Extra Space Storage Company Profile
(
Free Report)
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.
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