Geode Capital Management LLC Has $1.01 Billion Position in Extra Space Storage Inc. (NYSE:EXR)

Geode Capital Management LLC lessened its stake in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 1.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,649,299 shares of the real estate investment trust's stock after selling 109,214 shares during the period. Geode Capital Management LLC owned approximately 2.67% of Extra Space Storage worth $1,014,864,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Prestige Wealth Management Group LLC lifted its holdings in Extra Space Storage by 2,557.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 2,737 shares of the real estate investment trust's stock valued at $493,000 after purchasing an additional 2,634 shares in the last quarter. Vestcor Inc increased its position in shares of Extra Space Storage by 131.9% during the third quarter. Vestcor Inc now owns 29,389 shares of the real estate investment trust's stock valued at $5,296,000 after acquiring an additional 16,718 shares during the last quarter. Duff & Phelps Investment Management Co. raised its position in Extra Space Storage by 9.5% in the third 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. Continuum Advisory LLC boosted its holdings in Extra Space Storage by 68.1% during the 3rd quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust's stock valued at $56,000 after acquiring an additional 126 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of Extra Space Storage by 1.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 328,010 shares of the real estate investment trust's stock valued at $59,104,000 after purchasing an additional 5,430 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Extra Space Storage Trading Down 0.4 %

Shares of EXR traded down $0.60 during mid-day trading on Thursday, reaching $158.92. The company had a trading volume of 869,875 shares, compared to its average volume of 1,021,992. The firm has a fifty day simple moving average of $166.78 and a 200-day simple moving average of $165.27. Extra Space Storage Inc. has a fifty-two week low of $131.02 and a fifty-two week high of $184.87. 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 $33.69 billion, a price-to-earnings ratio of 41.60, a price-to-earnings-growth ratio of 8.23 and a beta of 0.89.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($1.12). Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business had revenue of $824.80 million during the quarter, compared to analyst estimates of $826.93 million. During the same period in the previous year, the company earned $2.02 EPS. Extra Space Storage's revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a dividend of $1.62 per share. The ex-dividend date is Monday, December 16th. This represents a $6.48 annualized dividend and a yield of 4.08%. Extra Space Storage's dividend payout ratio is presently 169.63%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on EXR shares. Evercore ISI dropped their price objective on shares of Extra Space Storage from $170.00 to $168.00 and set an "in-line" rating on the stock in a research report on Monday, October 14th. Scotiabank cut their target price on Extra Space Storage from $169.00 to $167.00 and set a "sector underperform" rating for the company in a research note on Monday, November 25th. StockNews.com cut shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research note on Thursday, October 31st. Wells Fargo & Company restated an "equal weight" rating and set a $175.00 target price on shares of Extra Space Storage in a research report on Monday, October 21st. Finally, Royal Bank of Canada initiated coverage on shares of Extra Space Storage in a research report on Tuesday, September 10th. They set a "sector perform" rating and a $180.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, seven 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 has a consensus rating of "Hold" and a consensus target price of $171.43.

Insider Activity

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total value of $1,338,900.00. Following the completion of the transaction, the chief executive officer now owns 24,190 shares in the company, valued at $4,318,398.80. This trade represents a 23.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kenneth M. Woolley sold 6,647 shares of the firm's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $177.23, for a total value of $1,178,047.81. Following the sale, the director now owns 404,306 shares of the company's stock, valued at $71,655,152.38. The trade was a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,228 shares of company stock worth $3,023,957. 1.36% of the stock is currently owned by corporate insiders.

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.