Extra Space Storage Inc. (NYSE:EXR) Shares Acquired by Capital International Inc. CA

Capital International Inc. CA grew its position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 31.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 101,949 shares of the real estate investment trust's stock after acquiring an additional 24,566 shares during the period. Capital International Inc. CA's holdings in Extra Space Storage were worth $15,252,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in EXR. Golden State Wealth Management LLC bought a new position in shares of Extra Space Storage during the fourth quarter valued at $25,000. Harbour Investments Inc. increased its position in Extra Space Storage by 90.9% during the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 80 shares during the last quarter. Quent Capital LLC boosted its holdings in shares of Extra Space Storage by 89.0% in the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust's stock worth $49,000 after buying an additional 154 shares during the last quarter. Asset Planning Inc purchased a new stake in shares of Extra Space Storage in the 4th quarter worth $52,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Extra Space Storage during the 4th quarter valued at about $54,000. Institutional investors own 99.11% of the company's stock.

Insider Buying and Selling

In other news, EVP William N. Springer sold 1,220 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 20,158 shares of the company's stock, valued at approximately $3,077,320.28. This trade represents a 5.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the sale, the chief executive officer now directly owns 9,190 shares in the company, valued at approximately $1,355,065.50. The trade was a 44.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,392 shares of company stock valued at $1,392,315. Company insiders own 1.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EXR. Barclays cut their target price on Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating for the company in a research report on Wednesday, March 12th. Mizuho assumed coverage on shares of Extra Space Storage in a research report on Wednesday, April 9th. They issued an "outperform" rating and a $141.00 price objective on the stock. StockNews.com lowered Extra Space Storage from a "hold" rating to a "sell" rating in a report on Friday, March 7th. Royal Bank of Canada reduced their price target on Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating for the company in a research report on Thursday, February 27th. Finally, Wells Fargo & Company decreased their price target on 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. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $167.25.

Extra Space Storage Price Performance

Shares of Extra Space Storage stock traded down $1.24 on Friday, hitting $140.62. The company's stock had a trading volume of 244,490 shares, compared to its average volume of 1,058,851. 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 company has a market capitalization of $29.84 billion, a price-to-earnings ratio of 36.84, a price-to-earnings-growth ratio of 7.76 and a beta of 0.96. Extra Space Storage Inc. has a 1 year low of $121.03 and a 1 year high of $184.87. The firm has a fifty day moving average price of $145.78 and a 200-day moving average price of $154.53.

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. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business had revenue of $821.90 million for the quarter, compared to analysts' expectations of $707.34 million. As a group, sell-side analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date was Friday, March 14th. Extra Space Storage's dividend payout ratio (DPR) is 160.40%.

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.