Victory Capital Management Inc. boosted its stake in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 17.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 167,257 shares of the real estate investment trust's stock after buying an additional 25,321 shares during the period. Victory Capital Management Inc. owned approximately 0.08% of Extra Space Storage worth $30,138,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in EXR. Graypoint LLC raised its stake in shares of Extra Space Storage by 4.3% during the third quarter. Graypoint LLC now owns 1,575 shares of the real estate investment trust's stock valued at $284,000 after acquiring an additional 65 shares in the last quarter. Hummer Financial Advisory Services Inc increased its position in Extra Space Storage by 1.2% during the 3rd quarter. Hummer Financial Advisory Services Inc now owns 5,920 shares of the real estate investment trust's stock valued at $1,067,000 after purchasing an additional 70 shares during the period. Buckley Wealth Management LLC raised its holdings in shares of Extra Space Storage by 1.9% in the 3rd quarter. Buckley Wealth Management LLC now owns 3,811 shares of the real estate investment trust's stock valued at $687,000 after purchasing an additional 71 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of Extra Space Storage by 19.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust's stock valued at $72,000 after purchasing an additional 76 shares in the last quarter. Finally, Bleakley Financial Group LLC increased its holdings in Extra Space Storage by 4.1% during the third quarter. Bleakley Financial Group LLC now owns 1,973 shares of the real estate investment trust's stock valued at $356,000 after buying an additional 77 shares during the period. Hedge funds and other institutional investors own 99.11% of the company's stock.
Insider Buying and Selling at Extra Space Storage
In other news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $177.01, for a total transaction of $499,699.23. Following the sale, the executive vice president now owns 32,855 shares of the company's stock, valued at $5,815,663.55. This trade represents a 7.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP William N. Springer sold 2,000 shares of the business's stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total transaction of $350,660.00. Following the completion of the transaction, the executive vice president now owns 11,919 shares of the company's stock, valued at approximately $2,089,758.27. This represents a 14.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,970 shares of company stock valued at $3,367,307. 1.36% of the stock is owned by insiders.
Extra Space Storage Stock Performance
EXR traded up $1.13 on Friday, reaching $164.56. 1,131,986 shares of the stock were exchanged, compared to its average volume of 930,419. 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's 50-day moving average price is $171.50 and its 200 day moving average price is $162.65. The firm has a market capitalization of $34.88 billion, a PE ratio of 43.08, a PEG ratio of 8.29 and a beta of 0.87. Extra Space Storage Inc. has a fifty-two week low of $125.32 and a fifty-two week high of $184.87.
Extra Space Storage (NYSE:EXR - Get Free Report) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing analysts' consensus estimates of $2.03 by ($1.12). Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The firm had revenue of $824.80 million during the quarter, compared to analysts' expectations of $826.93 million. During the same quarter in the prior year, the company earned $2.02 EPS. Extra Space Storage's quarterly revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts forecast that Extra Space Storage Inc. will post 8.09 EPS for the current fiscal year.
Extra Space Storage Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.94%. Extra Space Storage's dividend payout ratio is presently 169.63%.
Wall Street Analyst Weigh In
EXR has been the topic of several recent research reports. Scotiabank increased their target price on Extra Space Storage from $159.00 to $169.00 and gave the company a "sector underperform" rating in a research report on Thursday, August 22nd. Wells Fargo & Company reiterated an "equal weight" rating and issued a $175.00 target price on shares of Extra Space Storage in a report on Monday, October 21st. Bank of America cut shares of Extra Space Storage from a "neutral" rating to an "underperform" rating and lowered their price target for the company from $172.00 to $155.00 in a report on Monday, August 5th. Barclays boosted their price objective on shares of Extra Space Storage from $188.00 to $192.00 and gave the stock an "overweight" rating in a research note on Monday, October 28th. Finally, Evercore ISI lowered their target price on shares of Extra Space Storage from $170.00 to $168.00 and set an "in-line" rating for the company in a research note on Monday, October 14th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Extra Space Storage has a consensus rating of "Hold" and an average target price of $171.50.
Read Our Latest Report on Extra Space Storage
Extra Space Storage 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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