Invesco Ltd. increased its position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,575,742 shares of the real estate investment trust's stock after purchasing an additional 87,354 shares during the period. Invesco Ltd. owned 1.22% of Extra Space Storage worth $385,331,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Employees Retirement System of Texas boosted its position in shares of Extra Space Storage by 29.4% in the 4th quarter. Employees Retirement System of Texas now owns 118,745 shares of the real estate investment trust's stock valued at $17,764,000 after purchasing an additional 27,000 shares during the period. Cerity Partners LLC lifted its position in shares of Extra Space Storage by 8.1% in the 4th quarter. Cerity Partners LLC now owns 15,589 shares of the real estate investment trust's stock valued at $2,563,000 after acquiring an additional 1,163 shares in the last quarter. Federated Hermes Inc. grew its position in Extra Space Storage by 206.9% during the 4th quarter. Federated Hermes Inc. now owns 1,105 shares of the real estate investment trust's stock worth $165,000 after purchasing an additional 745 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of 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 worth $199,000 after buying an additional 73 shares during the period. Finally, Wedbush Securities Inc. grew its holdings in shares of Extra Space Storage by 3.9% during the fourth quarter. Wedbush Securities Inc. now owns 7,574 shares of the real estate investment trust's stock valued at $1,133,000 after buying an additional 286 shares in the last quarter. Institutional investors own 99.11% of the company's stock.
Insider Activity
In other Extra Space Storage news, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following the sale, the executive vice president now directly owns 20,158 shares of the company's stock, valued at approximately $3,077,320.28. The trade was a 5.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total value 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 $1,355,065.50. The trade was a 44.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,392 shares of company stock worth $1,392,315 over the last three months. 1.36% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several equities analysts have recently commented on EXR shares. Barclays lowered 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 report on Wednesday, March 12th. Scotiabank upgraded shares of Extra Space Storage from a "sector perform" rating to a "sector outperform" rating and decreased their price target for the company from $165.00 to $149.00 in a report on Wednesday, April 9th. Royal Bank of Canada dropped their target price on shares of Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 27th. StockNews.com downgraded shares of Extra Space Storage from a "hold" rating to a "sell" rating in a report on Friday, March 7th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $167.25.
Check Out Our Latest Analysis on EXR
Extra Space Storage Stock Up 0.5 %
Shares of Extra Space Storage stock traded up $0.68 during trading hours on Tuesday, reaching $138.35. 222,479 shares of the company's stock were exchanged, compared to its average volume of 1,068,932. The stock has a market cap of $29.36 billion, a P/E ratio of 36.22, a P/E/G ratio of 7.76 and a beta of 0.96. The company has a 50 day moving average of $148.27 and a two-hundred day moving average of $156.20. Extra Space Storage Inc. has a fifty-two week low of $121.03 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.
Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.93. The company had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. On average, sell-side analysts forecast that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.
Extra Space Storage Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $1.62 per share. The ex-dividend date was Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.68%. Extra Space Storage's dividend payout ratio (DPR) is presently 160.40%.
About Extra Space Storage
(
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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