Donaldson Capital Management LLC grew its stake in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 3.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 287,956 shares of the real estate investment trust's stock after purchasing an additional 9,804 shares during the period. Extra Space Storage makes up 1.6% of Donaldson Capital Management LLC's investment portfolio, making the stock its 27th largest holding. Donaldson Capital Management LLC owned approximately 0.14% of Extra Space Storage worth $43,078,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently modified their holdings of the stock. Independent Advisor Alliance boosted its stake in shares of Extra Space Storage by 37.2% during the 4th quarter. Independent Advisor Alliance now owns 2,104 shares of the real estate investment trust's stock valued at $315,000 after purchasing an additional 571 shares in the last quarter. Johnson Investment Counsel Inc. boosted its stake in shares of Extra Space Storage by 2.4% during the 4th quarter. Johnson Investment Counsel Inc. now owns 15,043 shares of the real estate investment trust's stock valued at $2,250,000 after purchasing an additional 359 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Extra Space Storage by 5.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 2,127,067 shares of the real estate investment trust's stock valued at $318,209,000 after purchasing an additional 106,608 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Extra Space Storage by 27.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 168,338 shares of the real estate investment trust's stock valued at $25,183,000 after purchasing an additional 36,693 shares in the last quarter. Finally, OFI Invest Asset Management bought a new stake in shares of Extra Space Storage during the 4th quarter valued at about $813,000. Institutional investors own 99.11% of the company's stock.
Extra Space Storage Stock Performance
Extra Space Storage stock traded up $0.53 during midday trading on Friday, reaching $145.03. 1,543,783 shares of the company traded hands, compared to its average volume of 1,360,696. The firm has a market capitalization of $30.75 billion, a price-to-earnings ratio of 37.97, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90. The business has a 50 day moving average of $153.06 and a two-hundred day moving average of $162.43. Extra Space Storage Inc. has a 12 month low of $131.02 and a 12 month high of $184.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23.
Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share 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 the consensus estimate of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. As a group, research analysts predict 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 will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $1.62 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.47%. Extra Space Storage's payout ratio is presently 160.40%.
Analysts Set New Price Targets
Several equities research analysts recently commented on the stock. 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 on the stock in a research note on Thursday, February 27th. Barclays dropped their price objective on shares of Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating on the stock in a research note on Wednesday. Truist Financial boosted 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. Wells Fargo & Company dropped their price objective on shares of Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating on the stock in a research note on Friday, February 21st. Finally, StockNews.com lowered shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research note on Friday, March 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Extra Space Storage presently has a consensus rating of "Hold" and an average target price of $171.09.
Get Our Latest Research Report on Extra Space Storage
Insiders Place Their Bets
In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP William N. Springer sold 1,220 shares of the stock in a transaction on Friday, February 28th. The stock was 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 directly 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 disclosure for this sale can be found here. Insiders own 1.36% of the company's stock.
Extra Space Storage Company Profile
(
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.
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