Geode Capital Management LLC Has $839.83 Million Holdings in Extra Space Storage Inc. (NYSE:EXR)

Geode Capital Management LLC cut its holdings in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,627,253 shares of the real estate investment trust's stock after selling 22,046 shares during the quarter. Geode Capital Management LLC owned about 2.65% of Extra Space Storage worth $839,826,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Oregon Public Employees Retirement Fund raised 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 purchasing an additional 66 shares in the last quarter. Wedge Capital Management L L P NC grew its position in Extra Space Storage by 1.3% in the fourth 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 buying an additional 68 shares during the last quarter. Lindbrook Capital LLC increased its holdings in shares of Extra Space Storage by 14.9% in the fourth quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust's stock valued at $78,000 after buying an additional 68 shares in the last quarter. Checchi Capital Advisers LLC lifted its position in shares of Extra Space Storage by 2.2% during the 4th quarter. Checchi Capital Advisers LLC now owns 3,449 shares of the real estate investment trust's stock valued at $516,000 after acquiring an additional 75 shares during the last quarter. Finally, Harbour Investments Inc. boosted its stake in shares of Extra Space Storage by 90.9% during the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 80 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Stock Down 3.7 %

Shares of EXR traded down $5.06 during midday trading on Monday, reaching $133.15. 449,787 shares of the stock were exchanged, compared to its average volume of 1,053,794. The company has a market cap of $28.26 billion, a price-to-earnings ratio of 34.71, a P/E/G ratio of 7.76 and a beta of 0.96. The firm has a 50 day simple moving average of $151.74 and a 200-day simple moving average of $158.72. Extra Space Storage Inc. has a 12-month low of $131.02 and a 12-month high of $184.87. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $707.34 million. Research analysts forecast that Extra Space Storage Inc. will post 8.1 EPS 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 given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.87%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage's payout ratio is 160.40%.

Analyst Upgrades and Downgrades

EXR has been the topic of a number of recent analyst reports. Barclays cut their target price on 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. The Goldman Sachs Group restated a "buy" rating on shares of Extra Space Storage in a report on Thursday, March 6th. StockNews.com cut shares of Extra Space Storage from a "hold" rating to a "sell" rating in a report on Friday, March 7th. Wells Fargo & Company cut their price target on shares of Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating on the stock in a report on Friday, February 21st. Finally, Royal Bank of Canada decreased their price objective on shares of 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. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $171.09.

Insider Buying and Selling at Extra Space Storage

In other news, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $152.66, for a total value of $186,245.20. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction on 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 sale, the chief executive officer now directly owns 9,190 shares of the company's stock, valued at approximately $1,355,065.50. This 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 over the last three months. Corporate 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.