Pictet Asset Management Holding SA Has $74.84 Million Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Pictet Asset Management Holding SA lifted its stake in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 500,293 shares of the real estate investment trust's stock after purchasing an additional 3,820 shares during the period. Pictet Asset Management Holding SA owned 0.24% of Extra Space Storage worth $74,844,000 at the end of the most recent quarter.

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

Extra Space Storage Stock Down 1.2 %

EXR traded down $1.70 during trading on Thursday, hitting $145.77. The company had a trading volume of 657,427 shares, compared to its average volume of 1,296,486. The company has a market capitalization of $30.90 billion, a PE ratio of 38.16, a PEG ratio of 7.76 and a beta of 0.90. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a one year low of $131.02 and a one year high of $184.87. The firm's 50-day moving average price is $152.17 and its 200 day moving average price is $159.40.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.93. The company 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 expect that Extra Space Storage Inc. will post 8.1 earnings per share 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 given a dividend of $1.62 per share. The ex-dividend date was Friday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.45%. Extra Space Storage's dividend payout ratio (DPR) is presently 160.40%.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, Director Joseph J. Bonner sold 672 shares of the firm'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 value of $100,195.20. Following the completion of the transaction, the director now directly owns 4,557 shares in the company, valued at $679,448.70. This trade represents a 12.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP William N. Springer sold 1,220 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now owns 20,158 shares in the company, valued at approximately $3,077,320.28. This represents a 5.71 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.36% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research note on Friday, March 7th. Truist Financial raised their price target on Extra Space Storage from $167.00 to $168.00 and gave the stock a "hold" rating in a research report on Thursday, December 5th. The Goldman Sachs Group reiterated a "buy" rating on shares of Extra Space Storage in a report on Thursday, March 6th. Wells Fargo & Company decreased their target price on Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating for the company in a research report on Friday, February 21st. Finally, Scotiabank lowered their price target on Extra Space Storage from $167.00 to $165.00 and set a "sector perform" rating for the company in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $171.09.

About Extra Space Storage

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.