Extra Space Storage Inc. (NYSE:EXR) Shares Bought by Capital International Investors

Capital International Investors boosted its stake in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,665,961 shares of the real estate investment trust's stock after purchasing an additional 6,751 shares during the period. Capital International Investors owned approximately 1.73% of Extra Space Storage worth $548,428,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new position in shares of Extra Space Storage in the 4th quarter worth $25,000. Harbour Investments Inc. lifted its stake in shares of Extra Space Storage by 90.9% in the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 80 shares in the last quarter. Quent Capital LLC grew its holdings in shares of Extra Space Storage by 89.0% during the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust's stock worth $49,000 after purchasing an additional 154 shares during the period. Asset Planning Inc acquired a new stake in Extra Space Storage during the 4th quarter worth approximately $52,000. Finally, Kestra Investment Management LLC purchased a new position in Extra Space Storage in the fourth quarter valued at approximately $54,000. Hedge funds and other institutional investors own 99.11% of the company's stock.

Extra Space Storage Stock Performance

EXR traded down $0.23 during trading hours on Wednesday, hitting $141.60. 798,340 shares of the stock were exchanged, compared to its average volume of 1,063,386. The stock has a market cap of $30.05 billion, a price-to-earnings ratio of 37.07, a price-to-earnings-growth ratio of 7.76 and a beta of 0.96. The stock has a 50-day simple moving average of $146.31 and a 200-day simple moving average of $154.82. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. Extra Space Storage Inc. has a 12 month low of $121.03 and a 12 month high of $184.87.

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. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. Analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.58%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage's dividend payout ratio is presently 160.40%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on EXR shares. StockNews.com lowered shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research report on Friday, March 7th. Wells Fargo & Company cut their price objective 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. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Barclays reduced their price target on Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 12th. Finally, Mizuho assumed coverage on shares of Extra Space Storage in a research report on Wednesday, April 9th. They set an "outperform" rating and a $141.00 target price on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $167.25.

Insider Activity

In other Extra Space Storage news, 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 transaction of $186,245.20. Following the sale, the executive vice president now owns 20,158 shares of the company's stock, valued at $3,077,320.28. The trade was a 5.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the 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 completion of the transaction, the chief executive officer now directly owns 9,190 shares of the company's stock, valued at approximately $1,355,065.50. The trade was a 44.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,392 shares of company stock valued at $1,392,315. 1.36% of the stock is currently owned by company insiders.

Extra Space Storage 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.