Extra Space Storage Inc. (NYSE:EXR) Shares Bought by NEOS Investment Management LLC

NEOS Investment Management LLC raised its position in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 29.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,926 shares of the real estate investment trust's stock after purchasing an additional 2,485 shares during the quarter. NEOS Investment Management LLC's holdings in Extra Space Storage were worth $1,635,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of EXR. Golden State Wealth Management LLC purchased a new position in Extra Space Storage in the fourth quarter valued at approximately $25,000. Harbour Investments Inc. raised its stake in shares of Extra Space Storage by 90.9% in the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 80 shares during the period. Quent Capital LLC lifted its holdings in shares of Extra Space Storage by 89.0% during the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust's stock valued at $49,000 after acquiring an additional 154 shares in the last quarter. Asset Planning Inc purchased a new stake in Extra Space Storage during the 4th quarter worth $52,000. Finally, Kestra Investment Management LLC acquired a new stake in Extra Space Storage in the 4th quarter valued at $54,000. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Stock Performance

Shares of EXR traded down $1.14 during mid-day trading on Thursday, hitting $146.33. The stock had a trading volume of 565,845 shares, compared to its average volume of 1,050,770. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The company has a market cap of $31.02 billion, a PE ratio of 38.31, a PEG ratio of 7.76 and a beta of 0.90. Extra Space Storage Inc. has a fifty-two week low of $131.02 and a fifty-two week high of $184.87. The company's fifty day simple moving average is $152.17 and its two-hundred day simple moving average is $159.40.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $707.34 million. On average, equities analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $1.62 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.43%. Extra Space Storage's payout ratio is currently 160.40%.

Analysts Set New Price Targets

A number of research analysts have commented on EXR shares. Royal Bank of Canada reduced their price objective on Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 27th. Scotiabank decreased their price target on Extra Space Storage from $167.00 to $165.00 and set a "sector perform" rating for the company in a report on Wednesday, March 5th. The Goldman Sachs Group reiterated a "buy" rating on shares of Extra Space Storage in a research note on Thursday, March 6th. StockNews.com downgraded shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research note on Friday, March 7th. Finally, Truist Financial boosted their price objective on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a "hold" rating in a report on Thursday, December 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Extra Space Storage presently has a consensus rating of "Hold" and a consensus price target of $171.09.

Insider Activity

In related news, EVP William N. Springer sold 1,220 shares of the company's stock in a transaction 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 transaction, the executive vice president now directly owns 20,158 shares in the company, valued at $3,077,320.28. This represents a 5.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph J. Bonner sold 672 shares of the business's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $149.10, for a total transaction of $100,195.20. Following the transaction, the director now directly owns 4,557 shares of the company's stock, valued at approximately $679,448.70. This trade represents a 12.85 % decrease in their position. The disclosure for this sale can be found here. 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.