Three Seasons Wealth LLC purchased a new position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 3,000 shares of the real estate investment trust's stock, valued at approximately $449,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tidal Investments LLC raised its stake in Extra Space Storage by 34.4% during the 3rd quarter. Tidal Investments LLC now owns 12,640 shares of the real estate investment trust's stock worth $2,278,000 after acquiring an additional 3,234 shares in the last quarter. Manning & Napier Advisors LLC increased its stake in Extra Space Storage by 1,127.2% in the fourth quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust's stock valued at $116,985,000 after purchasing an additional 718,266 shares during the period. Vert Asset Management LLC increased its stake in Extra Space Storage by 8.0% in the fourth quarter. Vert Asset Management LLC now owns 93,473 shares of the real estate investment trust's stock valued at $13,984,000 after purchasing an additional 6,910 shares during the period. Pacer Advisors Inc. increased its stake in Extra Space Storage by 134.3% in the fourth quarter. Pacer Advisors Inc. now owns 167,735 shares of the real estate investment trust's stock valued at $25,093,000 after purchasing an additional 96,136 shares during the period. Finally, Brentview Investment Management LLC acquired a new position in Extra Space Storage in the fourth quarter valued at $2,852,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Extra Space Storage
In other Extra Space Storage news, Director Joseph J. Bonner sold 672 shares of Extra Space Storage stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $149.10, for a total value of $100,195.20. Following the transaction, the director now owns 4,557 shares in the company, valued at $679,448.70. This trade represents a 12.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the sale, the chief executive officer now directly owns 9,190 shares of the company's stock, valued at $1,355,065.50. This represents a 44.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,392 shares of company stock valued at $1,392,315. Company insiders own 1.36% of the company's stock.
Extra Space Storage Price Performance
Shares of NYSE EXR traded up $4.72 on Wednesday, hitting $146.15. The company's stock had a trading volume of 538,191 shares, compared to its average volume of 1,059,518. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The company has a market capitalization of $31.02 billion, a price-to-earnings ratio of 38.26, a price-to-earnings-growth ratio of 7.76 and a beta of 0.96. The stock has a 50 day moving average of $144.98 and a 200-day moving average of $153.81. Extra Space Storage Inc. has a 12-month low of $121.03 and a 12-month high of $184.87.
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. The business had revenue of $820.00 million for the quarter, compared to the consensus estimate of $705.12 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The company's quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.96 earnings per share. As a group, research analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current year.
Extra Space Storage Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.43%. The ex-dividend date was Friday, March 14th. Extra Space Storage's payout ratio is 160.40%.
Analysts Set New Price Targets
EXR has been the topic of a number of recent research reports. The Goldman Sachs Group restated a "buy" rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Scotiabank upgraded shares of Extra Space Storage from a "sector perform" rating to a "sector outperform" rating and dropped their price objective for the company from $165.00 to $149.00 in a research note on Wednesday, April 9th. Royal Bank of Canada dropped their price objective on shares of Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 27th. Barclays dropped their price target on shares of Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 12th. Finally, StockNews.com lowered shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research note on Friday, March 7th. Two analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Extra Space Storage has a consensus rating of "Hold" and an average price target of $167.25.
Read Our Latest 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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