Mizuho Securities USA LLC boosted its stake in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 46.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,091 shares of the real estate investment trust's stock after buying an additional 6,349 shares during the quarter. Mizuho Securities USA LLC's holdings in Extra Space Storage were worth $3,006,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Extra Space Storage by 724.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust's stock worth $357,100,000 after purchasing an additional 1,741,320 shares during the period. Manning & Napier Advisors LLC raised its stake in shares of Extra Space Storage by 1,127.2% in the fourth quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust's stock valued at $116,985,000 after buying an additional 718,266 shares during the period. Cbre Investment Management Listed Real Assets LLC lifted its position in shares of Extra Space Storage by 91.2% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,089,753 shares of the real estate investment trust's stock valued at $163,027,000 after buying an additional 519,934 shares during the last quarter. Amundi grew its stake in shares of Extra Space Storage by 82.0% during the 4th quarter. Amundi now owns 828,644 shares of the real estate investment trust's stock worth $122,649,000 after acquiring an additional 373,274 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Extra Space Storage in the 4th quarter valued at about $46,120,000. Hedge funds and other institutional investors own 99.11% of the company's stock.
Analysts Set New Price Targets
Several research firms have recently issued reports on EXR. 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 on the stock in a research report on Friday, February 21st. Royal Bank of Canada reduced their price target on Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating for the company in a research report on Thursday, February 27th. Barclays reduced their target price on Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating for the company in a report on Wednesday, March 12th. Scotiabank cut their price objective 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. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Extra Space Storage in a report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, Extra Space Storage presently has an average rating of "Hold" and a consensus price target of $171.09.
Get Our Latest Stock Report on Extra Space Storage
Insider Buying and Selling at Extra Space Storage
In other news, EVP William N. Springer sold 1,220 shares of the 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 completion of the sale, the executive vice president now owns 20,158 shares of the company's stock, valued at approximately $3,077,320.28. This 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 business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the completion of the transaction, the chief executive officer now owns 16,690 shares in the company, valued at $2,470,286.90. The trade was a 31.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,392 shares of company stock worth $1,396,515 over the last three months. Company insiders own 1.36% of the company's stock.
Extra Space Storage Price Performance
EXR traded down $0.26 during trading on Thursday, reaching $145.32. The stock had a trading volume of 650,361 shares, compared to its average volume of 999,092. The business has a 50-day moving average of $152.57 and a 200-day moving average of $160.44. Extra Space Storage Inc. has a one year low of $131.02 and a one year high of $184.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The stock has a market cap of $30.81 billion, a PE ratio of 38.04, a PEG ratio of 7.76 and a beta of 0.90.
Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. As a group, equities research 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 declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage's dividend payout ratio 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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