First Eagle Investment Management LLC Sells 2,257 Shares of Extra Space Storage Inc. (NYSE:EXR)

First Eagle Investment Management LLC lessened its position in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 0.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,628,941 shares of the real estate investment trust's stock after selling 2,257 shares during the period. First Eagle Investment Management LLC owned 0.77% of Extra Space Storage worth $243,690,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new stake in shares of Extra Space Storage in the 4th quarter worth about $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Extra Space Storage in the 3rd quarter worth about $33,000. Harvest Fund Management Co. Ltd purchased a new position in Extra Space Storage during the 3rd quarter valued at about $42,000. Quent Capital LLC lifted its position in Extra Space Storage by 89.0% during the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust's stock valued at $49,000 after acquiring an additional 154 shares during the period. Finally, Asset Planning Inc purchased a new position in Extra Space Storage during the 4th quarter valued at about $52,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Extra Space Storage Stock Performance

Shares of EXR stock traded up $1.22 during trading hours on Tuesday, reaching $147.85. The company had a trading volume of 1,336,581 shares, compared to its average volume of 1,003,138. The business has a fifty day moving average price of $152.90 and a 200-day moving average price of $161.80. Extra Space Storage Inc. has a one year low of $131.02 and a one year high of $184.87. The firm has a market cap of $31.34 billion, a PE ratio of 38.70, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23.

Remove Ads

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. Sell-side analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $1.62 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.38%. Extra Space Storage's dividend payout ratio is presently 160.40%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on EXR shares. Wells Fargo & Company lowered their price target on shares of 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 cut shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research report 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 for the company in a research report on Wednesday, March 5th. Truist Financial lifted their price target on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a "hold" rating in a research report on Thursday, December 5th. Finally, 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 research report on Wednesday, March 12th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $171.09.

Insider Transactions at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred 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 in the company, valued at $2,470,286.90. The trade was a 31.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph J. Bonner sold 672 shares of the business'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 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 trade represents a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,392 shares of company stock worth $1,396,515 over the last three months. 1.36% of the stock is currently owned by company 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.