Extra Space Storage Inc. (NYSE:EXR) Shares Bought by Capital International Inc. CA

Capital International Inc. CA lifted its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 20.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,993 shares of the real estate investment trust’s stock after buying an additional 9,393 shares during the period. Capital International Inc. CA’s holdings in Extra Space Storage were worth $8,084,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Extra Space Storage by 0.5% during the first quarter. Vanguard Group Inc. now owns 33,686,389 shares of the real estate investment trust’s stock worth $4,951,899,000 after buying an additional 170,380 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Extra Space Storage by 8.9% during the fourth quarter. Principal Financial Group Inc. now owns 7,083,752 shares of the real estate investment trust’s stock worth $1,135,738,000 after buying an additional 577,918 shares during the period. Norges Bank acquired a new stake in shares of Extra Space Storage during the fourth quarter worth about $1,022,811,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Extra Space Storage by 6.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,219,030 shares of the real estate investment trust’s stock worth $516,107,000 after buying an additional 186,940 shares during the period. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Extra Space Storage by 8.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 2,724,293 shares of the real estate investment trust’s stock worth $436,786,000 after buying an additional 211,395 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Raymond James increased their target price on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Tuesday. Evercore ISI raised their price objective on shares of Extra Space Storage from $140.00 to $151.00 and gave the company an “in-line” rating in a research report on Monday, July 15th. Wells Fargo & Company raised their price objective on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday. StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Scotiabank raised their price objective on shares of Extra Space Storage from $140.00 to $159.00 and gave the company a “sector underperform” rating in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $157.67.

Extra Space Storage Price Performance

Extra Space Storage stock traded up $3.92 during mid-day trading on Friday, reaching $164.61. The company had a trading volume of 741,623 shares, compared to its average volume of 1,074,204. Extra Space Storage Inc. has a 1 year low of $101.19 and a 1 year high of $171.46. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.15 and a quick ratio of 0.15. The company has a market capitalization of $34.85 billion, a P/E ratio of 36.66, a P/E/G ratio of 3.41 and a beta of 0.83. The stock’s 50-day simple moving average is $154.38 and its 200-day simple moving average is $147.36.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $1.62 per share. The ex-dividend date was Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.94%. Extra Space Storage’s dividend payout ratio (DPR) is 144.32%.

Insider Transactions at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the completion of the transaction, the chief executive officer now directly owns 31,690 shares of the company’s stock, valued at approximately $4,835,260.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the completion of the transaction, the chief executive officer now directly owns 31,690 shares of the company’s stock, valued at approximately $4,835,260.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph J. Bonner sold 677 shares of Extra Space Storage stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $148.22, for a total transaction of $100,344.94. Following the completion of the sale, the director now directly owns 5,229 shares of the company’s stock, valued at $775,042.38. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Profile

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.