Mariner LLC reduced its stake in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 10.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,255 shares of the real estate investment trust's stock after selling 1,839 shares during the quarter. Mariner LLC's holdings in Extra Space Storage were worth $2,282,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in EXR. Cohen & Steers Inc. grew its holdings in shares of Extra Space Storage by 5.9% in the 4th quarter. Cohen & Steers Inc. now owns 9,246,133 shares of the real estate investment trust's stock valued at $1,383,094,000 after acquiring an additional 516,941 shares in the last quarter. Norges Bank acquired a new position in shares of Extra Space Storage during the 4th quarter worth $938,647,000. Massachusetts Financial Services Co. MA increased its position in Extra Space Storage by 3.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,064,970 shares of the real estate investment trust's stock worth $458,520,000 after purchasing an additional 104,986 shares in the last quarter. Invesco Ltd. grew its position in Extra Space Storage by 3.5% during the 4th quarter. Invesco Ltd. now owns 2,575,742 shares of the real estate investment trust's stock worth $385,331,000 after acquiring an additional 87,354 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Extra Space Storage by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,409,330 shares of the real estate investment trust's stock valued at $360,436,000 after buying an additional 43,223 shares during the last quarter. Institutional investors own 99.11% of the company's stock.
Extra Space Storage Stock Performance
Shares of Extra Space Storage stock traded down $0.81 during trading hours on Friday, reaching $141.05. The company had a trading volume of 730,000 shares, compared to its average volume of 1,062,331. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. Extra Space Storage Inc. has a one year low of $121.03 and a one year high of $184.87. The firm has a market cap of $29.93 billion, a PE ratio of 36.92, a price-to-earnings-growth ratio of 7.76 and a beta of 0.96. The business has a fifty day simple moving average of $145.51 and a 200 day simple moving average of $154.21.
Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.93. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company had revenue of $821.90 million for the quarter, compared to the consensus estimate of $707.34 million. On average, analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.
Extra Space Storage Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage's payout ratio is currently 160.40%.
Analyst Upgrades and Downgrades
EXR has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their target price 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. Mizuho began coverage on Extra Space Storage in a research note on Wednesday, April 9th. They issued an "outperform" rating and a $141.00 price objective on the stock. The Goldman Sachs Group reissued a "buy" rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Barclays lowered their price objective on shares of Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating for the company in a research note on Wednesday, March 12th. Finally, StockNews.com lowered Extra Space Storage from a "hold" rating to a "sell" rating in a report on Friday, March 7th. Two analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $167.25.
Check Out Our Latest Analysis on EXR
Insider Activity
In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated 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 transaction, the chief executive officer now owns 9,190 shares in the company, valued at approximately $1,355,065.50. The trade was a 44.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William N. Springer sold 1,220 shares of the business's 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 completion of the sale, the executive vice president now owns 20,158 shares of the company's stock, valued at $3,077,320.28. The trade was a 5.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,392 shares of company stock worth $1,392,315. 1.36% of the stock is currently owned by insiders.
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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