Elo Mutual Pension Insurance Co Increases Holdings in Extra Space Storage Inc. (NYSE:EXR)

Elo Mutual Pension Insurance Co lifted its holdings in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 14.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,351 shares of the real estate investment trust's stock after purchasing an additional 2,661 shares during the period. Elo Mutual Pension Insurance Co's holdings in Extra Space Storage were worth $3,194,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Tidal Investments LLC raised its position in 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Extra Space Storage by 724.1% in 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 worth $357,100,000 after purchasing an additional 1,741,320 shares during the period. Duff & Phelps Investment Management Co. lifted its stake in Extra Space Storage by 9.5% in the third 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 during the last quarter. Brown Financial Advisors grew its holdings in Extra Space Storage by 69.1% during the third 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 during the period. Finally, Manning & Napier Advisors LLC increased its position in Extra Space Storage by 1,127.2% in the fourth quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust's stock worth $116,985,000 after buying an additional 718,266 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Several analysts have issued reports on EXR shares. Scotiabank lowered their target price on Extra Space Storage from $167.00 to $165.00 and set a "sector perform" rating on the stock in a research note on Wednesday, March 5th. The Goldman Sachs Group restated a "buy" rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Truist Financial upped their price objective 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. Wells Fargo & Company reduced their target price on shares of Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating for the company in a research note on Friday, February 21st. Finally, Royal Bank of Canada dropped their price target on shares of Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $171.09.

Extra Space Storage Price Performance

Extra Space Storage stock traded down $1.73 during midday trading on Wednesday, reaching $146.11. 320,120 shares of the stock were exchanged, compared to its average volume of 1,048,744. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The firm has a market cap of $30.98 billion, a PE ratio of 38.22, a PEG ratio of 7.76 and a beta of 0.90. The company's fifty day moving average is $152.21 and its 200-day moving average is $159.48.

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

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $1.62 dividend. The ex-dividend date was Friday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.43%. Extra Space Storage's payout ratio is currently 160.40%.

Insider Activity

In other news, EVP William N. Springer sold 1,220 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $152.66, for a total value of $186,245.20. Following the transaction, the executive vice president now owns 20,158 shares of the company's stock, valued at $3,077,320.28. This represents a 5.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the sale, the chief executive officer now directly owns 16,690 shares of the company's stock, valued at $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. In the last 90 days, insiders sold 9,392 shares of company stock worth $1,396,515. 1.36% of the stock is currently owned by 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.