Wells Fargo & Company MN trimmed its position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 335,837 shares of the real estate investment trust's stock after selling 8,237 shares during the period. Wells Fargo & Company MN owned approximately 0.16% of Extra Space Storage worth $50,241,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Extra Space Storage in the fourth quarter worth about $938,647,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Extra Space Storage by 3.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,064,970 shares of the real estate investment trust's stock worth $458,520,000 after buying an additional 104,986 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Extra Space Storage by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,409,330 shares of the real estate investment trust's stock worth $360,436,000 after buying an additional 43,223 shares during the period. Daiwa Securities Group Inc. boosted its stake in Extra Space Storage by 5.3% in 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 buying an additional 106,608 shares in the last quarter. Finally, Boston Partners grew its position in Extra Space Storage by 5.9% in the fourth quarter. Boston Partners now owns 1,466,816 shares of the real estate investment trust's stock valued at $219,437,000 after acquiring an additional 82,104 shares during the period. Institutional investors and hedge funds own 99.11% of the company's stock.
Insider Activity
In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the transaction, the chief executive officer now directly owns 9,190 shares of the company's stock, valued at $1,355,065.50. This trade represents a 44.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph J. Bonner sold 672 shares of the business's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $149.10, for a total transaction of $100,195.20. Following the completion of the transaction, the director now directly owns 4,557 shares of the company's stock, valued at $679,448.70. This trade represents a 12.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,392 shares of company stock valued at $1,392,315 in the last ninety days. 1.36% of the stock is owned by insiders.
Extra Space Storage Trading Up 0.9 %
Extra Space Storage stock traded up $1.23 during trading hours on Tuesday, reaching $138.90. 180,967 shares of the company's stock traded hands, compared to its average volume of 1,068,736. Extra Space Storage Inc. has a fifty-two week low of $121.03 and a fifty-two week high of $184.87. The firm's 50 day moving average is $148.27 and its 200-day moving average is $156.20. 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 firm has a market capitalization of $29.48 billion, a price-to-earnings ratio of 36.31, a PEG ratio of 7.76 and a beta of 0.96.
Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.93. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business had revenue of $821.90 million for the quarter, compared to analyst estimates of $707.34 million. On average, analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.
Extra Space Storage Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.67%. Extra Space Storage's payout ratio is currently 160.40%.
Analysts Set New Price Targets
A number of brokerages have issued reports on EXR. StockNews.com cut Extra Space Storage from a "hold" rating to a "sell" rating in a report on Friday, March 7th. Barclays reduced 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 report on Wednesday, March 12th. Mizuho assumed coverage on shares of Extra Space Storage in a report on Wednesday, April 9th. They set an "outperform" rating and a $141.00 price objective for the company. Wells Fargo & Company cut their target price on shares of 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. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Extra Space Storage currently has a consensus rating of "Hold" and an average target price of $167.25.
Get Our Latest Analysis on Extra Space Storage
Extra Space Storage 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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