Extra Space Storage Inc. (NYSE:EXR) Stake Lifted by Fisher Asset Management LLC

Fisher Asset Management LLC increased its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 0.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,231 shares of the real estate investment trust’s stock after purchasing an additional 308 shares during the period. Fisher Asset Management LLC’s holdings in Extra Space Storage were worth $10,673,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. increased its position in shares of Extra Space Storage by 10.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,020,459 shares of the real estate investment trust’s stock valued at $364,066,000 after purchasing an additional 189,949 shares during the period. Swedbank AB lifted its holdings in Extra Space Storage by 4.5% in the 3rd quarter. Swedbank AB now owns 243,130 shares of the real estate investment trust’s stock valued at $43,810,000 after acquiring an additional 10,408 shares during the last quarter. Penserra Capital Management LLC boosted its position in shares of Extra Space Storage by 11.7% during the 3rd quarter. Penserra Capital Management LLC now owns 13,784 shares of the real estate investment trust’s stock valued at $2,483,000 after purchasing an additional 1,449 shares in the last quarter. Cerity Partners LLC lifted its stake in Extra Space Storage by 39.9% during the third quarter. Cerity Partners LLC now owns 14,426 shares of the real estate investment trust’s stock valued at $2,599,000 after purchasing an additional 4,114 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Extra Space Storage by 4.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,366,107 shares of the real estate investment trust’s stock worth $426,349,000 after buying an additional 111,137 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Price Performance

Shares of EXR opened at $172.68 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The firm has a market cap of $36.60 billion, a PE ratio of 45.20, a PEG ratio of 8.58 and a beta of 0.87. The firm’s 50 day moving average price is $169.97 and its 200 day moving average price is $164.09. Extra Space Storage Inc. has a twelve month low of $125.82 and a twelve month high of $184.87.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). The business had revenue of $824.80 million for the quarter, compared to the consensus estimate of $826.93 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.02 EPS. As a group, research analysts expect that Extra Space Storage Inc. will post 8.09 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend is Monday, December 16th. Extra Space Storage’s dividend payout ratio is 169.63%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EXR. Evercore ISI reduced their price objective on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a research note on Monday, October 14th. Scotiabank dropped their target price on shares of Extra Space Storage from $169.00 to $167.00 and set a “sector underperform” rating on the stock in a research report on Monday. Bank of America lowered shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and cut their price target for the company from $172.00 to $155.00 in a report on Monday, August 5th. Royal Bank of Canada initiated coverage on shares of Extra Space Storage in a research note on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 price objective for the company. Finally, StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Extra Space Storage has an average rating of “Hold” and a consensus target price of $171.36.

Insider Activity at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total value of $1,338,900.00. Following the transaction, the chief executive officer now owns 24,190 shares of the company’s stock, valued at $4,318,398.80. This trade represents a 23.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kenneth M. Woolley sold 6,647 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $177.23, for a total transaction of $1,178,047.81. Following the sale, the director now directly owns 404,306 shares of the company’s stock, valued at approximately $71,655,152.38. This represents a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,228 shares of company stock valued at $3,023,957. Corporate insiders own 1.36% of the company’s stock.

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.