PGGM Investments lifted its stake in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 10.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,332,057 shares of the real estate investment trust's stock after acquiring an additional 125,397 shares during the quarter. Extra Space Storage makes up approximately 3.3% of PGGM Investments' investment portfolio, making the stock its 4th largest position. PGGM Investments owned approximately 0.63% of Extra Space Storage worth $213,569,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Russell Investments Group Ltd. increased its position in shares of Extra Space Storage by 21.6% in the fourth quarter. Russell Investments Group Ltd. now owns 813,310 shares of the real estate investment trust's stock valued at $130,525,000 after acquiring an additional 144,546 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Extra Space Storage by 19.1% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 706 shares of the real estate investment trust's stock valued at $113,000 after acquiring an additional 113 shares during the last quarter. Supplemental Annuity Collective Trust of NJ acquired a new stake in shares of Extra Space Storage in the fourth quarter valued at about $216,000. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Extra Space Storage by 2.9% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,050 shares of the real estate investment trust's stock valued at $810,000 after acquiring an additional 142 shares during the last quarter. Finally, Atria Wealth Solutions Inc. increased its position in shares of Extra Space Storage by 177.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 7,775 shares of the real estate investment trust's stock valued at $1,247,000 after acquiring an additional 4,968 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.
Extra Space Storage Stock Performance
Shares of NYSE:EXR traded down $0.36 during trading on Friday, reaching $133.47. 716,541 shares of the stock were exchanged, compared to its average volume of 1,021,555. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $164.99. The firm has a market cap of $28.24 billion, a PE ratio of 27.02, a PEG ratio of 3.29 and a beta of 0.74. The stock has a 50-day moving average price of $141.87 and a 200-day moving average price of $138.19. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.71.
Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.03 by ($1.01). The firm had revenue of $797.77 million for the quarter, compared to the consensus estimate of $778.05 million. Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. The company's revenue was up 57.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.09 EPS. Research analysts expect that Extra Space Storage Inc. will post 8.05 EPS for the current fiscal year.
Extra Space Storage Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.86%. The ex-dividend date was Thursday, March 14th. Extra Space Storage's dividend payout ratio (DPR) is currently 131.17%.
Insider Activity at Extra Space Storage
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 stock was 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 directly owns 37,028 shares in the company, valued at $5,369,060. The sale was disclosed in a filing with the SEC, which is available at this link. In other Extra Space Storage news, CMO Samrat Sondhi sold 2,048 shares of the company's stock in a transaction 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 directly owns 94,126 shares in the company, valued at $13,785,693.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the company's 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 owns 37,028 shares of the company's stock, valued at $5,369,060. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,532 shares of company stock worth $514,819. Company insiders own 1.36% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the company. Wells Fargo & Company lifted their target price on Extra Space Storage from $150.00 to $160.00 and gave the company an "overweight" rating in a research report on Friday, April 5th. Raymond James reissued an "outperform" rating and set a $160.00 price target on shares of Extra Space Storage in a research report on Thursday, March 28th. Barclays started 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. The Goldman Sachs Group boosted their price target on 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, Deutsche Bank Aktiengesellschaft started coverage on Extra Space Storage in a research report on Tuesday, January 30th. They set a "hold" rating and a $141.00 price target on the stock. 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 company's stock. Based on data from MarketBeat.com, Extra Space Storage has an average rating of "Hold" and a consensus price target of $150.17.
View Our Latest Stock 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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