Capital World Investors Has $3.15 Billion Position in Extra Space Storage Inc. (NYSE:EXR)

Capital World Investors reduced its position in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 4.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,075,104 shares of the real estate investment trust's stock after selling 1,056,578 shares during the period. Capital World Investors owned about 9.94% of Extra Space Storage worth $3,152,579,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC bought a new stake in Extra Space Storage during the 4th quarter valued at approximately $25,000. Harbour Investments Inc. boosted its position in shares of Extra Space Storage by 90.9% in 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 period. Quent Capital LLC grew its stake 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 acquiring an additional 154 shares during the last quarter. Asset Planning Inc bought a new position in Extra Space Storage during the fourth quarter worth $52,000. Finally, Kestra Investment Management LLC bought a new position in Extra Space Storage during the fourth quarter worth $54,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group reiterated a "buy" rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Royal Bank of Canada decreased their price objective on Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating on the stock in a report on Thursday, February 27th. Barclays decreased their price target 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, March 12th. Mizuho assumed coverage on Extra Space Storage in a report on Wednesday, April 9th. They issued an "outperform" rating and a $141.00 target price for the company. Finally, StockNews.com lowered Extra Space Storage from a "hold" rating to a "sell" rating in a research note on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, five have issued 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.com, Extra Space Storage presently has a consensus rating of "Hold" and a consensus target price of $167.25.

Extra Space Storage Trading Up 0.3 %

EXR stock traded up $0.48 during trading on Thursday, hitting $141.78. The company had a trading volume of 388,535 shares, compared to its average volume of 1,288,756. The stock has a market cap of $30.09 billion, a price-to-earnings ratio of 37.12, a PEG ratio of 7.76 and a beta of 0.96. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average price of $146.04 and a 200-day moving average price of $154.72. Extra Space Storage Inc. has a 12 month low of $121.03 and a 12 month high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.93. The business had revenue of $821.90 million for the quarter, compared to analysts' expectations 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, 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 announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage's dividend payout ratio is presently 160.40%.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, Director Joseph J. Bonner sold 672 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $149.10, for a total value of $100,195.20. Following the completion of the sale, the director now owns 4,557 shares of the company's stock, valued at approximately $679,448.70. This represents a 12.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $186,245.20. Following the completion of the sale, the executive vice president now owns 20,158 shares of the company's stock, valued at $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. In the last 90 days, insiders sold 9,392 shares of company stock worth $1,392,315. Insiders own 1.36% of the company's stock.

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.