Silvercrest Asset Management Group LLC cut its stake in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 178,689 shares of the real estate investment trust's stock after selling 3,940 shares during the quarter. Silvercrest Asset Management Group LLC owned approximately 0.08% of Extra Space Storage worth $26,732,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund increased its position in shares of Extra Space Storage by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,160 shares of the real estate investment trust's stock worth $2,717,000 after purchasing an additional 66 shares in the last quarter. Wedge Capital Management L L P NC increased its position in shares of Extra Space Storage by 1.3% during the fourth quarter. Wedge Capital Management L L P NC now owns 5,138 shares of the real estate investment trust's stock worth $769,000 after purchasing an additional 68 shares in the last quarter. Lindbrook Capital LLC increased its position in shares of Extra Space Storage by 14.9% during the fourth quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust's stock worth $78,000 after purchasing an additional 68 shares in the last quarter. Aptus Capital Advisors LLC increased its position in shares of Extra Space Storage by 4.3% during the fourth quarter. Aptus Capital Advisors LLC now owns 1,638 shares of the real estate investment trust's stock worth $245,000 after purchasing an additional 68 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its position in shares of Extra Space Storage by 5.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,327 shares of the real estate investment trust's stock worth $199,000 after purchasing an additional 73 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts recently commented on EXR shares. Scotiabank boosted their price target on Extra Space Storage from $149.00 to $166.00 and gave the stock a "sector outperform" rating in a research report on Monday, May 12th. Evercore ISI upped their target price on Extra Space Storage from $144.00 to $149.00 and gave the company an "in-line" rating in a report on Thursday, May 1st. The Goldman Sachs Group restated a "buy" rating on shares of Extra Space Storage in a report on Thursday, March 6th. Mizuho began coverage on Extra Space Storage in a report on Wednesday, April 9th. They issued an "outperform" rating and a $141.00 target price for the company. Finally, Royal Bank of Canada dropped their target price on Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating for the company in a report on Thursday, May 1st. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $158.46.
Check Out Our Latest Stock Analysis on Extra Space Storage
Insider Buying and Selling at Extra Space Storage
In other Extra Space Storage news, Director Joseph J. Bonner sold 672 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $149.10, for a total transaction of $100,195.20. Following the completion of the sale, the director now directly owns 4,557 shares of the company's stock, valued at approximately $679,448.70. This trade represents a 12.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total value of $1,105,875.00. Following the completion of the transaction, the chief executive officer now directly owns 9,190 shares of the company's stock, valued at $1,355,065.50. The trade was a 44.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,392 shares of company stock valued at $1,392,315. Insiders own 0.96% of the company's stock.
Extra Space Storage Trading Down 0.3%
EXR traded down $0.48 during mid-day trading on Tuesday, hitting $152.11. 928,236 shares of the stock were exchanged, compared to its average volume of 1,055,971. The firm's fifty day moving average is $143.17 and its two-hundred day moving average is $151.86. Extra Space Storage Inc. has a 1-year low of $121.03 and a 1-year high of $184.87. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The company has a market cap of $32.28 billion, a PE ratio of 39.82, a PEG ratio of 7.76 and a beta of 1.14.
Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.04. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business had revenue of $820.00 million for the quarter, compared to analysts' expectations of $705.12 million. During the same period last year, the firm earned $1.96 earnings per share. The company's revenue for the quarter was up 2.6% compared to the same quarter last year. Equities analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.
Extra Space Storage Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date was Friday, March 14th. Extra Space Storage's dividend payout ratio is presently 150.35%.
Extra Space Storage Profile
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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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