Blueshift Asset Management LLC bought a new stake in Extra Space Storage Inc. (NYSE:EXR - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 3,763 shares of the real estate investment trust's stock, valued at approximately $563,000.
A number of other hedge funds have also recently modified their holdings of EXR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Extra Space Storage by 724.1% during 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 period. Manning & Napier Advisors LLC increased its holdings in shares of Extra Space Storage by 1,127.2% in the 4th quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust's stock valued at $116,985,000 after acquiring an additional 718,266 shares during the period. Cbre Investment Management Listed Real Assets LLC increased its holdings in shares of 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 acquiring an additional 519,934 shares during the period. Amundi raised its position 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 purchasing an additional 373,274 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake 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.
Extra Space Storage Price Performance
NYSE:EXR traded down $1.43 during trading hours on Tuesday, hitting $144.56. The company's stock had a trading volume of 1,034,925 shares, compared to its average volume of 1,001,413. The company has a market capitalization of $30.65 billion, a PE ratio of 37.84, a PEG ratio of 7.76 and a beta of 0.90. Extra Space Storage Inc. has a 52-week low of $131.02 and a 52-week high of $184.87. The business's 50-day moving average is $152.73 and its two-hundred day moving average is $160.75. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23.
Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.93. The business had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. As a group, research analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.
Extra Space Storage Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage's payout ratio is currently 160.40%.
Insider Buying and Selling
In other news, 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 completion of the transaction, the chief executive officer now owns 16,690 shares in the company, valued at $2,470,286.90. This trade represents a 31.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction on Friday, February 28th. The stock was sold at an average price of $152.66, for a total value of $186,245.20. Following the transaction, the executive vice president now directly owns 20,158 shares of the company's stock, valued at $3,077,320.28. This trade represents a 5.71 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,392 shares of company stock valued at $1,396,515. 1.36% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the stock. StockNews.com lowered shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research note on Friday, March 7th. Wells Fargo & Company dropped their price target on Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating on the stock in a research report on Friday, February 21st. Royal Bank of Canada decreased their price objective on Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating for the company in a research report on Thursday, February 27th. Barclays dropped their target price on Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating on the stock in a report on Wednesday, March 12th. Finally, Truist Financial increased their price target on Extra Space Storage from $167.00 to $168.00 and gave the stock a "hold" rating in a report on Thursday, December 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Extra Space Storage presently has an average rating of "Hold" and an average target price of $171.09.
Get Our Latest Analysis 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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