Capital Research Global Investors trimmed its holdings in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 67.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 424,433 shares of the real estate investment trust's stock after selling 888,531 shares during the period. Capital Research Global Investors owned 0.20% of Extra Space Storage worth $63,495,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the business. Dimensional Fund Advisors LP lifted its position in Extra Space Storage by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,136,640 shares of the real estate investment trust's stock worth $469,229,000 after acquiring an additional 24,533 shares during the period. First Trust Advisors LP raised its stake in shares of Extra Space Storage by 110.1% during the 4th quarter. First Trust Advisors LP now owns 86,826 shares of the real estate investment trust's stock worth $12,989,000 after buying an additional 45,501 shares during the last quarter. GeoWealth Management LLC raised its position in Extra Space Storage by 22.6% during the fourth quarter. GeoWealth Management LLC now owns 9,438 shares of the real estate investment trust's stock worth $1,412,000 after acquiring an additional 1,740 shares during the last quarter. Commerce Bank lifted its stake in Extra Space Storage by 1.2% in the 4th quarter. Commerce Bank now owns 15,677 shares of the real estate investment trust's stock valued at $2,345,000 after buying an additional 179 shares in the last quarter. Finally, Capital International Sarl lifted its position in shares of Extra Space Storage by 22.5% in the fourth quarter. Capital International Sarl now owns 10,709 shares of the real estate investment trust's stock valued at $1,602,000 after acquiring an additional 1,968 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.
Extra Space Storage Stock Performance
Shares of NYSE:EXR traded down $0.81 during trading on Friday, hitting $141.05. 730,000 shares of the company traded hands, compared to its average volume of 1,060,948. The stock has a market capitalization of $29.93 billion, a price-to-earnings ratio of 36.92, a PEG ratio of 7.76 and a beta of 0.96. Extra Space Storage Inc. has a one year low of $121.03 and a one year high of $184.87. 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's fifty day moving average is $145.51 and its 200-day moving average is $154.33.
Extra Space Storage (NYSE:EXR - Get Free Report) last issued its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.93. The firm had revenue of $821.90 million for the quarter, compared to analyst estimates of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. As a group, equities analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.
Extra Space Storage Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued 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 4.59%. Extra Space Storage's dividend payout ratio (DPR) is presently 160.40%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on EXR shares. StockNews.com downgraded shares of Extra Space Storage from a "hold" rating to a "sell" rating in a report on Friday, March 7th. Scotiabank upgraded Extra Space Storage from a "sector perform" rating to a "sector outperform" rating and lowered their price objective for the company from $165.00 to $149.00 in a research note on Wednesday, April 9th. Mizuho initiated coverage on shares of Extra Space Storage in a research report on Wednesday, April 9th. They set an "outperform" rating and a $141.00 price target for the company. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Extra Space Storage in a report on Thursday, March 6th. Finally, Royal Bank of Canada decreased their price objective 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. Two analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Extra Space Storage presently has an average rating of "Hold" and a consensus target price of $167.25.
Check Out Our Latest Stock Report on EXR
Insider Transactions at Extra Space Storage
In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the transaction, the chief executive officer now owns 9,190 shares of the company's stock, valued at approximately $1,355,065.50. This trade represents a 44.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph J. Bonner sold 672 shares of the company's stock in a transaction that occurred 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 directly owns 4,557 shares of the company's stock, valued at approximately $679,448.70. This 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 sold 9,392 shares of company stock worth $1,392,315. Company insiders own 1.36% of the company's stock.
About Extra Space Storage
(
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.
See Also
Before you consider Extra Space Storage, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Extra Space Storage wasn't on the list.
While Extra Space Storage currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
