Extra Space Storage Inc. (NYSE:EXR) Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its position in Extra Space Storage Inc. (NYSE:EXR) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 500,293 shares of the real estate investment trust’s stock after buying an additional 3,820 shares during the period. Pictet Asset Management Holding SA owned 0.24% of Extra Space Storage worth $74,844,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in EXR. Golden State Wealth Management LLC purchased a new position in Extra Space Storage in the fourth quarter worth approximately $25,000. Harbour Investments Inc. grew its holdings in shares of Extra Space Storage by 90.9% during the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 80 shares during the period. Quent Capital LLC increased its position in shares of Extra Space Storage by 89.0% during the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 154 shares during the last quarter. Asset Planning Inc acquired a new stake in shares of Extra Space Storage during the 4th quarter worth about $52,000. Finally, Kestra Investment Management LLC purchased a new stake in Extra Space Storage in the 4th quarter valued at about $54,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Stock Up 0.2 %

Shares of Extra Space Storage stock opened at $145.41 on Friday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 52-week low of $131.02 and a 52-week high of $184.87. The company has a market capitalization of $30.83 billion, a P/E ratio of 38.07, a P/E/G ratio of 7.76 and a beta of 0.90. The company has a 50 day moving average of $152.33 and a 200 day moving average of $160.01.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.93. The business had revenue of $821.90 million during the quarter, compared to analysts’ expectations of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. As a group, research analysts forecast that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.62 per share. The ex-dividend date is Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.46%. Extra Space Storage’s payout ratio is currently 160.40%.

Insider Buying and Selling

In related news, Director Joseph J. Bonner sold 672 shares of the company’s stock in a transaction 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 transaction, the director now owns 4,557 shares of the company’s stock, valued at $679,448.70. This represents a 12.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the transaction, the chief executive officer now directly owns 16,690 shares in the company, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,392 shares of company stock worth $1,396,515 in the last ninety days. 1.36% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Truist Financial lifted their price target on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. The Goldman Sachs Group reissued a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Barclays decreased their price target on 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. Wells Fargo & Company dropped their price objective on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. Finally, Royal Bank of Canada decreased their target price on 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. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Extra Space Storage currently has an average rating of “Hold” and an average price target of $171.09.

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.