BI Asset Management Fondsmaeglerselskab A S Buys 3,410 Shares of Extra Space Storage Inc. (NYSE:EXR)

BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 63.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,778 shares of the real estate investment trust's stock after acquiring an additional 3,410 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Extra Space Storage were worth $1,313,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. World Investment Advisors LLC purchased a new position in shares of Extra Space Storage during the 3rd quarter valued at $216,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Extra Space Storage in the third quarter valued at about $654,000. Tidal Investments LLC boosted its stake in shares of Extra Space Storage by 34.4% in the third quarter. Tidal Investments LLC now owns 12,640 shares of the real estate investment trust's stock worth $2,278,000 after acquiring an additional 3,234 shares during the period. Copley Financial Group Inc. purchased a new stake in shares of Extra Space Storage during the third quarter worth about $659,000. Finally, SMART Wealth LLC raised its stake in Extra Space Storage by 21.4% during the 3rd quarter. SMART Wealth LLC now owns 4,945 shares of the real estate investment trust's stock valued at $891,000 after purchasing an additional 871 shares during the period. Hedge funds and other institutional investors own 99.11% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on EXR. Royal Bank of Canada dropped their price target on Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating for the company in a research note on Thursday, February 27th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Scotiabank upgraded shares of Extra Space Storage from a "sector perform" rating to a "sector outperform" rating and decreased their price target for the stock from $165.00 to $149.00 in a research note on Wednesday, April 9th. Wells Fargo & Company cut 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 report on Friday, February 21st. Finally, StockNews.com downgraded Extra Space Storage from a "hold" rating to a "sell" rating in a research report on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Extra Space Storage has an average rating of "Hold" and an average price target of $167.25.

Extra Space Storage Stock Up 2.7 %

Shares of EXR opened at $141.95 on Wednesday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The business has a fifty day moving average of $146.31 and a 200 day moving average of $154.82. The company has a market cap of $30.13 billion, a PE ratio of 37.16, a P/E/G ratio of 7.76 and a beta of 0.96. Extra Space Storage Inc. has a 52-week low of $121.03 and a 52-week high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its earnings results 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 firm had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. On average, sell-side analysts expect that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.56%. Extra Space Storage's dividend payout ratio is 160.40%.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total value of $1,105,875.00. Following the transaction, the chief executive officer now owns 9,190 shares of the company's stock, valued at $1,355,065.50. This represents a 44.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joseph J. Bonner sold 672 shares of Extra Space Storage 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 sale, the director now owns 4,557 shares of the company's stock, valued at approximately $679,448.70. This trade represents a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,392 shares of company stock worth $1,392,315. 1.36% of the stock is currently owned by company insiders.

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.

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