Sterling Capital Management LLC Raises Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Sterling Capital Management LLC increased its stake in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 16.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,816 shares of the real estate investment trust's stock after buying an additional 4,303 shares during the period. Sterling Capital Management LLC's holdings in Extra Space Storage were worth $4,460,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of EXR. Treasurer of the State of North Carolina raised its position in shares of Extra Space Storage by 0.5% during the 4th quarter. Treasurer of the State of North Carolina now owns 94,458 shares of the real estate investment trust's stock valued at $14,131,000 after buying an additional 430 shares in the last quarter. Capital Fund Management S.A. bought a new position in shares of Extra Space Storage during the fourth quarter valued at about $6,244,000. Raymond James Financial Inc. purchased a new stake in Extra Space Storage in the 4th quarter worth approximately $46,120,000. APG Asset Management N.V. purchased a new stake in Extra Space Storage in the fourth quarter worth $20,730,000. Finally, Greenland Capital Management LP increased its position in Extra Space Storage by 80.3% during the 4th quarter. Greenland Capital Management LP now owns 10,816 shares of the real estate investment trust's stock valued at $1,618,000 after purchasing an additional 4,816 shares during the period. Institutional investors own 99.11% of the company's stock.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, EVP William N. Springer sold 1,220 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $152.66, for a total value of $186,245.20. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph J. Bonner sold 672 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $149.10, for a total value of $100,195.20. Following the completion of the transaction, the director now directly owns 4,557 shares in the company, valued at $679,448.70. The trade was a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,392 shares of company stock worth $1,392,315. Insiders own 1.36% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on EXR shares. Mizuho started coverage on shares of Extra Space Storage in a report on Wednesday, April 9th. They issued an "outperform" rating and a $141.00 price objective for the company. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Scotiabank upgraded Extra Space Storage from a "sector perform" rating to a "sector outperform" rating and decreased their price objective for the stock 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 report on Thursday, February 27th. Finally, StockNews.com lowered shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research note on Friday, March 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Extra Space Storage currently has a consensus rating of "Hold" and a consensus price target of $167.25.

Extra Space Storage Stock Up 2.0 %

Shares of Extra Space Storage stock traded up $2.77 on Thursday, reaching $140.99. The company's stock had a trading volume of 714,457 shares, compared to its average volume of 1,319,825. Extra Space Storage Inc. has a 52 week low of $121.03 and a 52 week high of $184.87. The firm's fifty day simple moving average is $147.56 and its two-hundred day simple moving average is $155.95. 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 capitalization of $29.92 billion, a price-to-earnings ratio of 36.91, a P/E/G ratio of 7.76 and a beta of 0.96.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, topping the consensus estimate 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 return on equity of 5.51% and a net margin of 25.35%. Equities analysts anticipate 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 given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage's dividend payout ratio (DPR) is presently 160.40%.

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.