Aviso Financial Inc. Buys New Shares in Extra Space Storage Inc. (NYSE:EXR)

Aviso Financial Inc. purchased a new position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,066 shares of the real estate investment trust's stock, valued at approximately $758,000.

Other institutional investors also recently bought and sold shares of the company. Tidal Investments LLC increased its holdings in shares of Extra Space Storage by 34.4% during the 3rd quarter. Tidal Investments LLC now owns 12,640 shares of the real estate investment trust's stock valued at $2,278,000 after purchasing an additional 3,234 shares in the last quarter. Swedbank AB increased its holdings in shares of Extra Space Storage by 4.5% during the 3rd quarter. Swedbank AB now owns 243,130 shares of the real estate investment trust's stock valued at $43,810,000 after purchasing an additional 10,408 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 purchasing an additional 1,741,320 shares in the last quarter. Duff & Phelps Investment Management Co. increased its holdings in shares of Extra Space Storage by 9.5% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 35,503 shares of the real estate investment trust's stock valued at $6,397,000 after purchasing an additional 3,093 shares in the last quarter. Finally, Brown Financial Advisors increased its holdings in shares of Extra Space Storage by 69.1% during the 3rd quarter. Brown Financial Advisors now owns 9,134 shares of the real estate investment trust's stock valued at $1,646,000 after purchasing an additional 3,731 shares in the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other Extra Space Storage news, Director Joseph J. Bonner sold 672 shares of the firm'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 completion of the sale, the director now owns 4,557 shares of the company's stock, valued at $679,448.70. This trade represents a 12.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm'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 transaction, the chief executive officer now owns 16,690 shares of the company's stock, valued at approximately $2,470,286.90. This represents a 31.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,392 shares of company stock valued at $1,396,515 over the last quarter. 1.36% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EXR. Truist Financial lifted their target price on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a "hold" rating in a report on Thursday, December 5th. Scotiabank cut their target price on shares of Extra Space Storage from $167.00 to $165.00 and set a "sector perform" rating for the company in a report on Wednesday, March 5th. The Goldman Sachs Group reissued a "buy" rating on shares of Extra Space Storage in a report on Thursday, March 6th. Royal Bank of Canada cut their price target on shares of Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating for the company in a report on Thursday, February 27th. Finally, Wells Fargo & Company cut their price target on shares of Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating for the company in a report on Friday, February 21st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $171.09.

Extra Space Storage Price Performance

Shares of NYSE:EXR traded down $1.22 during midday trading on Wednesday, hitting $146.71. The company had a trading volume of 1,192,127 shares, compared to its average volume of 1,003,756. Extra Space Storage Inc. has a twelve month low of $131.02 and a twelve month high of $184.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The stock has a market cap of $31.10 billion, a price-to-earnings ratio of 38.40, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90. The business's 50-day simple moving average is $152.88 and its 200-day simple moving average is $161.60.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, beating the consensus estimate of $1.10 by $0.93. The firm 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%. On average, research analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The firm also recently announced 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 yield of 4.42%. Extra Space Storage's dividend payout ratio (DPR) is 160.40%.

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.