Extra Space Storage Inc. (NYSE:EXR) Shares Bought by FIL Ltd

FIL Ltd raised its position in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 21.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,884 shares of the real estate investment trust's stock after buying an additional 5,187 shares during the period. FIL Ltd's holdings in Extra Space Storage were worth $4,471,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Oregon Public Employees Retirement Fund boosted its holdings in shares of Extra Space Storage by 0.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,160 shares of the real estate investment trust's stock worth $2,717,000 after buying an additional 66 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in shares of Extra Space Storage by 1.3% during the 4th quarter. Wedge Capital Management L L P NC now owns 5,138 shares of the real estate investment trust's stock worth $769,000 after purchasing an additional 68 shares during the last quarter. Lindbrook Capital LLC raised its holdings in shares of Extra Space Storage by 14.9% in the 4th quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust's stock worth $78,000 after purchasing an additional 68 shares during the period. Quadrant Capital Group LLC lifted its stake in Extra Space Storage by 5.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,327 shares of the real estate investment trust's stock valued at $199,000 after purchasing an additional 73 shares during the last quarter. Finally, Checchi Capital Advisers LLC grew its holdings in Extra Space Storage by 2.2% during the fourth quarter. Checchi Capital Advisers LLC now owns 3,449 shares of the real estate investment trust's stock valued at $516,000 after purchasing an additional 75 shares during the period. Hedge funds and other institutional investors own 99.11% of the company's stock.

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Wall Street Analyst Weigh In

Several research analysts have recently weighed in on EXR shares. Royal Bank of Canada cut 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 note on Thursday, February 27th. The Goldman Sachs Group reiterated a "buy" rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Mizuho started coverage on Extra Space Storage in a research report on Wednesday, April 9th. They set an "outperform" rating and a $141.00 price objective on the stock. Barclays lowered their price target on shares of Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating for the company in a report on Wednesday, March 12th. Finally, Wells Fargo & Company decreased their price objective on Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating for the company in a report on Friday, February 21st. Two analysts have rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $167.25.

Extra Space Storage Price Performance

Shares of NYSE EXR traded up $2.77 during midday trading on Thursday, reaching $140.99. The stock had a trading volume of 714,385 shares, compared to its average volume of 1,067,392. The company has a market capitalization of $29.92 billion, a price-to-earnings ratio of 36.91, a price-to-earnings-growth ratio of 7.76 and a beta of 0.96. Extra Space Storage Inc. has a 12-month low of $121.03 and a 12-month high of $184.87. The stock has a 50-day moving average of $147.56 and a 200-day moving average of $155.95. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23.

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 EPS for the quarter, beating analysts' consensus estimates 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, research analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $1.62 dividend. The ex-dividend date was Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.60%. Extra Space Storage's dividend payout ratio is currently 160.40%.

Insiders Place Their Bets

In related news, Director Joseph J. Bonner sold 672 shares of the company'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 sale, the director now owns 4,557 shares of the company's stock, valued at $679,448.70. This represents a 12.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 9,190 shares in the company, valued at approximately $1,355,065.50. This trade represents a 44.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,392 shares of company stock worth $1,392,315 in the last 90 days. 1.36% of the stock is currently owned by corporate insiders.

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.