Extra Space Storage Inc. (NYSE:EXR) Shares Acquired by Xponance Inc.

Xponance Inc. increased its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,103 shares of the real estate investment trust’s stock after purchasing an additional 559 shares during the period. Xponance Inc.’s holdings in Extra Space Storage were worth $4,503,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in 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 worth $357,100,000 after acquiring an additional 1,741,320 shares during the period. Manning & Napier Advisors LLC lifted its holdings in shares of Extra Space Storage by 1,127.2% during the fourth quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust’s stock worth $116,985,000 after purchasing an additional 718,266 shares during the period. Cbre Investment Management Listed Real Assets LLC grew its position in Extra Space Storage by 91.2% in 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 buying an additional 519,934 shares during the last quarter. Amundi increased its stake in Extra Space Storage by 82.0% in the 4th quarter. Amundi now owns 828,644 shares of the real estate investment trust’s stock valued at $122,649,000 after buying an additional 373,274 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Extra Space Storage during the 4th quarter worth $46,120,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 16,690 shares in the company, valued at approximately $2,470,286.90. The trade was a 31.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph J. Bonner sold 672 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $149.10, for a total value of $100,195.20. Following the transaction, the director now directly owns 4,557 shares in the company, valued at approximately $679,448.70. This represents a 12.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,392 shares of company stock worth $1,396,515 over the last ninety days. 1.36% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on EXR shares. The Goldman Sachs Group reiterated a “buy” rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Truist Financial boosted 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. StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday, March 7th. Scotiabank dropped their price objective on Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 5th. Finally, Barclays decreased their target price on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $171.09.

Extra Space Storage Stock Performance

Shares of EXR opened at $145.67 on Friday. The company has a 50-day moving average of $152.82 and a two-hundred day moving average of $161.38. The stock has a market cap of $30.88 billion, a P/E ratio of 38.13, a PEG ratio of 7.76 and a beta of 0.90. Extra Space Storage Inc. has a 12-month low of $131.02 and a 12-month high of $184.87. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77.

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

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $1.62 per share. The ex-dividend date is Friday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.45%. Extra Space Storage’s dividend payout ratio is currently 160.40%.

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.