Charles Schwab Investment Management Inc. lifted its stake in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,198,631 shares of the real estate investment trust's stock after purchasing an additional 54,393 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.04% of Extra Space Storage worth $352,507,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Extra Space Storage by 17.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,087 shares of the real estate investment trust's stock worth $18,933,000 after purchasing an additional 17,163 shares in the last quarter. NewEdge Wealth LLC acquired a new stake in Extra Space Storage in the third quarter valued at about $341,000. Vanguard Personalized Indexing Management LLC boosted its stake in Extra Space Storage by 110.8% in 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 buying an additional 6,262 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Extra Space Storage by 8.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 2,724,293 shares of the real estate investment trust's stock valued at $436,786,000 after buying an additional 211,395 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Extra Space Storage by 55.7% in 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 buying an additional 12,055,172 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.
Extra Space Storage Trading Down 1.6 %
Shares of NYSE:EXR traded down $2.35 during trading on Wednesday, reaching $140.95. The stock had a trading volume of 630,294 shares, compared to its average volume of 1,178,788. Extra Space Storage Inc. has a 52 week low of $101.19 and a 52 week high of $164.99. The firm's fifty day moving average is $141.69 and its 200 day moving average is $139.45. The stock has a market cap of $29.84 billion, a price-to-earnings ratio of 31.46, a P/E/G ratio of 3.48 and a beta of 0.76. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.30 and a current ratio of 0.15.
Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share 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 analyst estimates of $778.05 million. Extra Space Storage had a return on equity of 6.76% and a net margin of 29.10%. The business's revenue was up 57.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.09 earnings per share. As a group, equities analysts forecast that Extra Space Storage Inc. will post 8.05 EPS for the current fiscal year.
Extra Space Storage Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders 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 4.60%. The ex-dividend date was Thursday, March 14th. Extra Space Storage's payout ratio is 144.32%.
Insider Buying and Selling
In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the business'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 document filed 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 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 transaction of $195,750.00. Following the completion of the sale, the executive vice president now directly owns 37,028 shares of the company's stock, valued at approximately $5,369,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Samrat Sondhi sold 2,048 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The shares were 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 owns 94,126 shares in the company, 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 in the last ninety days. Corporate insiders own 1.36% of the company's stock.
Analysts Set New Price Targets
EXR has been the topic of several research analyst reports. Scotiabank initiated coverage on Extra Space Storage in a research note on Tuesday, February 13th. They issued a "sector underperform" rating and a $131.00 price objective on the stock. Evercore ISI reduced their price objective on Extra Space Storage from $145.00 to $139.00 in a research note on Wednesday, May 1st. Wells Fargo & Company raised their price objective on Extra Space Storage from $150.00 to $160.00 and gave the company an "overweight" rating in a research note on Friday, April 5th. Deutsche Bank Aktiengesellschaft started coverage on Extra Space Storage in a research report 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 report on Thursday, March 28th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $149.67.
View Our Latest Stock Report on EXR
About Extra Space Storage
(
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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