Cbre Investment Management Listed Real Assets LLC Has $163.03 Million Position in Extra Space Storage Inc. (NYSE:EXR)

Cbre Investment Management Listed Real Assets LLC increased its position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 91.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,089,753 shares of the real estate investment trust's stock after purchasing an additional 519,934 shares during the period. Extra Space Storage accounts for 2.9% of Cbre Investment Management Listed Real Assets LLC's portfolio, making the stock its 6th largest holding. Cbre Investment Management Listed Real Assets LLC owned 0.51% of Extra Space Storage worth $163,027,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of EXR. Golden State Wealth Management LLC bought a new stake in shares of Extra Space Storage during the 4th quarter valued at $25,000. Ashton Thomas Securities LLC purchased a new position in Extra Space Storage during the third quarter valued at $33,000. Harvest Fund Management Co. Ltd purchased a new position in Extra Space Storage during the third quarter valued at $42,000. Quent Capital LLC grew its stake in Extra Space Storage by 89.0% during the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust's stock valued at $49,000 after acquiring an additional 154 shares in the last quarter. Finally, Asset Planning Inc purchased a new position in Extra Space Storage during the fourth quarter valued at $52,000. 99.11% of the stock is currently owned by institutional investors.

Insider Activity at Extra Space Storage

In related news, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $152.66, for a total transaction of $186,245.20. Following the completion of the sale, the executive vice president now owns 20,158 shares in the company, valued at $3,077,320.28. This trade represents a 5.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Thursday, January 2nd. The shares were 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 owns 16,690 shares of the company's stock, valued at $2,470,286.90. The trade was a 31.00 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by company insiders.

Extra Space Storage Trading Up 2.5 %

Shares of EXR stock traded up $3.82 during trading hours on Wednesday, reaching $157.24. 1,251,703 shares of the stock were exchanged, compared to its average volume of 1,350,731. Extra Space Storage Inc. has a 12-month low of $131.02 and a 12-month high of $184.87. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The company's 50-day moving average price is $152.63 and its 200-day moving average price is $163.21. The firm has a market capitalization of $33.33 billion, a price-to-earnings ratio of 41.16, a price-to-earnings-growth ratio of 7.76 and a beta of 0.91.

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 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $707.34 million. As a group, equities analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $1.62 per share. The ex-dividend date is Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.12%. Extra Space Storage's payout ratio is 160.40%.

Analyst Ratings Changes

EXR has been the subject of several research analyst reports. Wells Fargo & Company cut 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. Scotiabank dropped their price objective on shares of Extra Space Storage from $167.00 to $165.00 and set a "sector perform" rating for the company in a research note on Wednesday. StockNews.com raised shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research note on Tuesday, January 28th. Royal Bank of Canada dropped 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 research note on Thursday, February 27th. Finally, Truist Financial lifted their price objective on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a "hold" rating in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $171.36.

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.