Vert Asset Management LLC Has $13.98 Million Stake in Extra Space Storage Inc. (NYSE:EXR)

Vert Asset Management LLC raised its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 8.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 93,473 shares of the real estate investment trust’s stock after acquiring an additional 6,910 shares during the period. Extra Space Storage makes up about 4.8% of Vert Asset Management LLC’s investment portfolio, making the stock its 7th largest position. Vert Asset Management LLC’s holdings in Extra Space Storage were worth $13,984,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of EXR. Ashton Thomas Securities LLC bought a new position in Extra Space Storage during the 3rd quarter valued at about $33,000. Harvest Fund Management Co. Ltd bought a new position in shares of Extra Space Storage during the third quarter valued at approximately $42,000. Continuum Advisory LLC grew its stake in shares of Extra Space Storage by 68.1% during the third quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 126 shares during the last quarter. Sunbelt Securities Inc. raised its holdings in shares of Extra Space Storage by 441.2% in the second quarter. Sunbelt Securities Inc. now owns 617 shares of the real estate investment trust’s stock worth $96,000 after buying an additional 503 shares during the period. Finally, DiNuzzo Private Wealth Inc. bought a new stake in shares of Extra Space Storage during the 3rd quarter worth approximately $129,000. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Up 2.6 %

Shares of EXR stock opened at $156.04 on Tuesday. The stock’s fifty day moving average price is $155.96 and its 200 day moving average price is $164.88. Extra Space Storage Inc. has a 1-year low of $131.02 and a 1-year high of $184.87. The company has a market cap of $33.08 billion, a price-to-earnings ratio of 40.85, a price-to-earnings-growth ratio of 7.48 and a beta of 0.91. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23.

Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($1.12). The company had revenue of $824.80 million for the quarter, compared to analysts’ expectations of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.02 EPS. On average, research analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date was Monday, December 16th. Extra Space Storage’s dividend payout ratio is presently 169.63%.

Insider Buying and Selling 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 Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the sale, the chief executive officer now owns 16,690 shares of the company’s stock, valued at $2,470,286.90. This trade represents a 31.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Diane Olmstead sold 3,081 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $164.56, for a total transaction of $507,009.36. Following the completion of the transaction, the director now owns 5,877 shares of the company’s stock, valued at approximately $967,119.12. This trade represents a 34.39 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on EXR. Evercore ISI reduced their target price on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a research note on Monday, October 14th. Scotiabank upgraded shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 target price on the stock in a research note on Friday, January 10th. StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Barclays reduced their price objective on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Finally, Truist Financial increased their price target on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, Extra Space Storage currently has an average rating of “Hold” and a consensus price target of $171.25.

Extra Space Storage Company 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.