Schroder Investment Management Group raised its position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 21.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,887 shares of the real estate investment trust's stock after buying an additional 9,699 shares during the quarter. Schroder Investment Management Group's holdings in Extra Space Storage were worth $8,229,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in EXR. Walleye Capital LLC boosted its stake in Extra Space Storage by 174.8% in the 3rd quarter. Walleye Capital LLC now owns 1,280 shares of the real estate investment trust's stock worth $231,000 after purchasing an additional 2,992 shares during the period. Benjamin Edwards Inc. grew its holdings in shares of Extra Space Storage by 168.5% during the third quarter. Benjamin Edwards Inc. now owns 4,629 shares of the real estate investment trust's stock valued at $835,000 after buying an additional 2,905 shares in the last quarter. Centiva Capital LP purchased a new position in shares of Extra Space Storage during the third quarter valued at $942,000. HighTower Advisors LLC raised its position in Extra Space Storage by 3.5% during the third quarter. HighTower Advisors LLC now owns 44,420 shares of the real estate investment trust's stock valued at $8,008,000 after buying an additional 1,486 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in Extra Space Storage by 1.7% in the 3rd quarter. Janus Henderson Group PLC now owns 29,117 shares of the real estate investment trust's stock worth $5,246,000 after acquiring an additional 500 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other Extra Space Storage news, Director Joseph J. Bonner sold 672 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $149.10, for a total value of $100,195.20. Following the sale, the director now directly owns 4,557 shares in the company, valued at $679,448.70. This trade represents a 12.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,392 shares of company stock valued at $1,392,315. 1.36% of the stock is owned by insiders.
Extra Space Storage Stock Performance
Shares of EXR stock traded down $6.22 during trading on Monday, reaching $131.99. The company had a trading volume of 1,644,714 shares, compared to its average volume of 1,058,362. The firm's 50 day simple moving average is $151.74 and its two-hundred day simple moving average is $158.72. 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 current ratio of 0.23 and a quick ratio of 0.23. The company has a market capitalization of $28.01 billion, a PE ratio of 34.55, a PEG ratio of 7.76 and a beta of 0.96.
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 EPS 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 analyst estimates of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. Sell-side analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.
Extra Space Storage Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage's dividend payout ratio (DPR) is 160.40%.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the company. Barclays dropped their target price on Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating on the stock in a report on Wednesday, March 12th. Royal Bank of Canada dropped their price objective on shares of 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. StockNews.com lowered shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research note on Friday, March 7th. Scotiabank dropped their price target on shares of Extra Space Storage from $167.00 to $165.00 and set a "sector perform" rating on the stock in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company reduced their price objective on 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. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Extra Space Storage presently has a consensus rating of "Hold" and an average target price of $171.09.
Get Our Latest Stock Report on EXR
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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