Loudon Investment Management LLC Has $552,000 Stake in Extra Space Storage Inc. (NYSE:EXR)

Loudon Investment Management LLC decreased its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,690 shares of the real estate investment trust’s stock after selling 100 shares during the quarter. Loudon Investment Management LLC’s holdings in Extra Space Storage were worth $552,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of EXR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Extra Space Storage by 724.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust’s stock valued at $357,100,000 after acquiring an additional 1,741,320 shares in the last quarter. Manning & Napier Advisors LLC boosted its holdings in shares of Extra Space Storage by 1,127.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust’s stock valued at $116,985,000 after acquiring an additional 718,266 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its holdings in shares of Extra Space Storage by 91.2% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,089,753 shares of the real estate investment trust’s stock valued at $163,027,000 after acquiring an additional 519,934 shares in the last quarter. Amundi boosted its holdings in shares of Extra Space Storage by 82.0% during the 4th quarter. Amundi now owns 828,644 shares of the real estate investment trust’s stock valued at $122,649,000 after acquiring an additional 373,274 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Extra Space Storage during the 4th quarter valued at $46,120,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

EXR has been the subject of several analyst reports. Wells Fargo & Company lowered their target price on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research report on Friday, February 21st. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Truist Financial raised their target price 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. Barclays lowered their target price on Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a research report on Wednesday, March 12th. Finally, Scotiabank lowered their target price on Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 5th. 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $171.09.

Extra Space Storage Stock Performance

Shares of Extra Space Storage stock opened at $145.67 on Friday. Extra Space Storage Inc. has a one year low of $131.02 and a one year high of $184.87. The firm has a market capitalization of $30.88 billion, a price-to-earnings ratio of 38.13, a PEG ratio of 7.76 and a beta of 0.90. The business has a 50-day simple moving average of $152.82 and a 200 day simple moving average of $161.38. 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 issued its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.93. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. On average, research analysts anticipate 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage’s payout ratio is 160.40%.

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the sale, the chief executive officer now directly owns 16,690 shares of the company’s stock, valued at $2,470,286.90. The trade was a 31.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $152.66, for a total value of $186,245.20. Following the transaction, the executive vice president now owns 20,158 shares of the company’s stock, valued at $3,077,320.28. This trade represents a 5.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,392 shares of company stock valued at $1,396,515 in the last three months. Corporate insiders own 1.36% of the company’s stock.

About Extra Space Storage

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.