Argent Capital Management LLC cut its stake in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,916 shares of the real estate investment trust's stock after selling 2,537 shares during the quarter. Argent Capital Management LLC owned about 0.06% of Extra Space Storage worth $18,837,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. State Street Corp lifted its stake in Extra Space Storage by 1.7% during the 3rd quarter. State Street Corp now owns 13,390,830 shares of the real estate investment trust's stock valued at $2,412,894,000 after acquiring an additional 227,006 shares during the period. Charles Schwab Investment Management Inc. grew its position in Extra Space Storage by 4.9% during the 3rd 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 purchasing an additional 111,137 shares during the period. Daiwa Securities Group Inc. raised its stake 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 buying an additional 189,949 shares during the last quarter. Pathway Financial Advisers LLC raised its stake in shares of Extra Space Storage by 17,832.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust's stock valued at $363,783,000 after buying an additional 2,007,626 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Extra Space Storage by 724.1% in the third 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 buying an additional 1,741,320 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, Director Diane Olmstead sold 3,081 shares of Extra Space Storage stock in a transaction on Friday, November 15th. The stock was sold at an average price of $164.56, for a total value of $507,009.36. Following the completion of the sale, the director now owns 5,877 shares of the company's stock, valued at $967,119.12. The trade was a 34.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 16,690 shares of the company's stock, valued at approximately $2,470,286.90. This represents a 31.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.36% of the company's stock.
Extra Space Storage Stock Performance
EXR stock traded up $2.14 on Thursday, hitting $151.63. The company's stock had a trading volume of 1,685,321 shares, compared to its average volume of 1,128,022. The firm has a 50 day moving average of $157.83 and a two-hundred day moving average of $164.93. Extra Space Storage Inc. has a 1 year low of $131.02 and a 1 year 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. The stock has a market cap of $32.14 billion, a price-to-earnings ratio of 39.69, a price-to-earnings-growth ratio of 7.18 and a beta of 0.91.
Extra Space Storage (NYSE:EXR - Get Free Report) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($1.12). The business had revenue of $824.80 million for the quarter, compared to analyst estimates of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.02 EPS. Equities analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.
Extra Space Storage Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a dividend of $1.62 per share. The ex-dividend date was Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.27%. Extra Space Storage's dividend payout ratio (DPR) is 169.63%.
Analyst Ratings Changes
Several research analysts recently weighed in on the company. Barclays reduced their price target on Extra Space Storage from $192.00 to $184.00 and set an "overweight" rating for the company in a research report on Monday. StockNews.com cut shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research note on Thursday, October 31st. Wells Fargo & Company reissued an "equal weight" rating and set a $175.00 price target on shares of Extra Space Storage in a report on Monday, October 21st. Evercore ISI cut their price objective on shares of Extra Space Storage from $170.00 to $168.00 and set an "in-line" rating for the company in a report on Monday, October 14th. Finally, Truist Financial upped their price objective on shares of 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 equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Extra Space Storage currently has a consensus rating of "Hold" and an average target price of $171.25.
Read Our Latest Report on Extra Space Storage
Extra Space Storage Company Profile
(
Free Report)
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.
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