Vert Asset Management LLC raised its position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 8.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,473 shares of the real estate investment trust's stock after acquiring an additional 6,910 shares during the period. Extra Space Storage makes up 4.8% of Vert Asset Management LLC's portfolio, making the stock its 7th biggest holding. Vert Asset Management LLC's holdings in Extra Space Storage were worth $13,984,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. Squarepoint Ops LLC lifted its stake in shares of Extra Space Storage by 382.2% in the second quarter. Squarepoint Ops LLC now owns 27,630 shares of the real estate investment trust's stock valued at $4,294,000 after buying an additional 21,900 shares during the period. Millennium Management LLC lifted its stake in shares of Extra Space Storage by 42.8% in the second quarter. Millennium Management LLC now owns 505,208 shares of the real estate investment trust's stock valued at $78,514,000 after buying an additional 151,368 shares during the period. Scientech Research LLC bought a new stake in shares of Extra Space Storage in the second quarter valued at about $275,000. Creative Planning lifted its stake in shares of Extra Space Storage by 1.1% in the second quarter. Creative Planning now owns 27,855 shares of the real estate investment trust's stock valued at $4,329,000 after buying an additional 292 shares during the period. Finally, Sunbelt Securities Inc. lifted its stake in shares of Extra Space Storage by 441.2% in the second quarter. Sunbelt Securities Inc. now owns 617 shares of the real estate investment trust's stock valued at $96,000 after buying an additional 503 shares during the period. 99.11% of the stock is currently owned by institutional investors.
Extra Space Storage Trading Down 0.9 %
Shares of EXR stock traded down $1.39 on Friday, hitting $153.32. The stock had a trading volume of 613,753 shares, compared to its average volume of 1,292,373. Extra Space Storage Inc. has a twelve month low of $131.02 and a twelve month high of $184.87. The firm has a market cap of $32.50 billion, a P/E ratio of 40.14, a PEG ratio of 7.62 and a beta of 0.91. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The company has a fifty day moving average price of $155.09 and a two-hundred day moving average price of $164.66.
Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($1.12). The firm had revenue of $824.80 million during the quarter, compared to analyst estimates of $826.93 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. Extra Space Storage's quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm earned $2.02 EPS. As a group, analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.
Extra Space Storage Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend was Monday, December 16th. Extra Space Storage's payout ratio is presently 169.63%.
Insider Buying and Selling
In other Extra Space Storage news, Director Diane Olmstead sold 3,081 shares of the business's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $164.56, for a total transaction of $507,009.36. Following the sale, the director now directly owns 5,877 shares of the company's stock, valued at $967,119.12. The trade was a 34.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the sale, the chief executive officer now directly owns 16,690 shares in the company, valued at $2,470,286.90. This trade represents a 31.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.36% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on EXR shares. StockNews.com upgraded shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research note on Tuesday. Evercore ISI dropped their price target on shares of Extra Space Storage from $170.00 to $168.00 and set an "in-line" rating for the company in a research report on Monday, October 14th. Barclays dropped their price target on shares of Extra Space Storage from $192.00 to $184.00 and set an "overweight" rating for the company in a research report on Monday, January 13th. Truist Financial raised 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. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating and set a $175.00 price objective on shares of Extra Space Storage in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Extra Space Storage has a consensus rating of "Hold" and an average price target of $174.00.
Check Out Our Latest Report on EXR
Extra Space Storage Company Profile
(
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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