LPL Financial LLC raised its stake in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 6.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 110,870 shares of the real estate investment trust's stock after buying an additional 6,305 shares during the period. LPL Financial LLC owned about 0.05% of Extra Space Storage worth $16,586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also added to or reduced their stakes in the company. Tidal Investments LLC raised its holdings in shares of 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 valued at $2,278,000 after acquiring an additional 3,234 shares in the last quarter. Duff & Phelps Investment Management Co. increased its position in Extra Space Storage by 9.5% during the 3rd 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 period. Brown Financial Advisors raised its holdings in shares of Extra Space Storage by 69.1% in the 3rd 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 in the last quarter. Manning & Napier Advisors LLC lifted its position in shares of Extra Space Storage by 1,127.2% in the 4th quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust's stock worth $116,985,000 after purchasing an additional 718,266 shares during the period. Finally, Vert Asset Management LLC boosted its stake in shares of Extra Space Storage by 8.0% during the fourth quarter. Vert Asset Management LLC now owns 93,473 shares of the real estate investment trust's stock valued at $13,984,000 after purchasing an additional 6,910 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
EXR has been the subject of a number of recent research reports. Royal Bank of Canada reduced 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. Wells Fargo & Company reduced 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 report on Friday, February 21st. StockNews.com lowered Extra Space Storage from a "hold" rating to a "sell" rating in a research note on Friday, March 7th. Scotiabank lowered their price target on shares of Extra Space Storage from $167.00 to $165.00 and set a "sector perform" rating on the stock in a report on Wednesday, March 5th. Finally, Barclays reduced their price objective on shares of Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating for the company in a research note on Wednesday, March 12th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company's stock. According to 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 EXR
Insider Buying and Selling
In other Extra Space Storage news, EVP William N. Springer sold 1,220 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total value of $1,105,875.00. Following the transaction, the chief executive officer now owns 9,190 shares of the company's stock, valued at $1,355,065.50. The trade was a 44.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,392 shares of company stock worth $1,392,315. 1.36% of the stock is owned by company insiders.
Extra Space Storage Stock Performance
Shares of NYSE EXR traded down $6.11 during midday trading on Friday, reaching $138.05. The company had a trading volume of 1,378,935 shares, compared to its average volume of 1,056,017. Extra Space Storage Inc. has a 1 year low of $131.02 and a 1 year high of $184.87. The business's 50-day simple moving average is $151.74 and its 200 day simple moving average is $158.88. 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 stock has a market cap of $29.27 billion, a P/E ratio of 36.14, a P/E/G ratio of 7.76 and a beta of 0.90.
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 (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.93. The company had revenue of $821.90 million during 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%. On average, analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.
Extra Space Storage Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $1.62 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.69%. Extra Space Storage's dividend payout ratio (DPR) is presently 160.40%.
Extra Space Storage Profile
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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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