Wilmington Savings Fund Society FSB bought a new stake in Extra Space Storage Inc. (NYSE:EXR - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 3,629 shares of the real estate investment trust's stock, valued at approximately $654,000.
Other large investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its position in Extra Space Storage by 53.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,738 shares of the real estate investment trust's stock worth $1,824,000 after purchasing an additional 4,102 shares in the last quarter. Swedbank AB increased its holdings in shares of Extra Space Storage by 4.5% during the third quarter. Swedbank AB now owns 243,130 shares of the real estate investment trust's stock worth $43,810,000 after buying an additional 10,408 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Extra Space Storage by 724.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust's stock valued at $357,100,000 after acquiring an additional 1,741,320 shares during the last quarter. Duff & Phelps Investment Management Co. grew its position in Extra Space Storage by 9.5% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 35,503 shares of the real estate investment trust's stock worth $6,397,000 after acquiring an additional 3,093 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Extra Space Storage by 5.9% during the 2nd quarter. Victory Capital Management Inc. now owns 141,936 shares of the real estate investment trust's stock worth $22,058,000 after acquiring an additional 7,898 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.
Insider Transactions at Extra Space Storage
In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the completion of the sale, the chief executive officer now directly owns 24,190 shares of the company's stock, valued at approximately $4,318,398.80. The trade was a 23.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Diane Olmstead sold 3,081 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $164.56, for a total value of $507,009.36. Following the completion of the sale, the director now directly owns 5,877 shares of the company's stock, valued at approximately $967,119.12. This trade represents a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is owned by insiders.
Analyst Ratings Changes
Several equities analysts have commented on the company. Truist Financial increased their target price on Extra Space Storage from $167.00 to $168.00 and gave the company a "hold" rating in a research report on Thursday, December 5th. KeyCorp upped their price target on shares of Extra Space Storage from $172.00 to $178.00 and gave the company an "overweight" rating in a research report on Monday, September 9th. Royal Bank of Canada assumed coverage on shares of Extra Space Storage in a report on Tuesday, September 10th. They set a "sector perform" rating and a $180.00 price target on the stock. Wells Fargo & Company reissued an "equal weight" rating and issued a $175.00 price objective on shares of Extra Space Storage in a research note on Monday, October 21st. Finally, Jefferies Financial Group raised Extra Space Storage from a "hold" rating to a "buy" rating and raised their target price for the stock from $162.00 to $204.00 in a research report on Wednesday, September 18th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $171.43.
Read Our Latest Stock Analysis on EXR
Extra Space Storage Trading Down 0.6 %
Shares of NYSE:EXR traded down $0.89 during mid-day trading on Monday, hitting $155.68. The company had a trading volume of 796,230 shares, compared to its average volume of 1,020,456. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. Extra Space Storage Inc. has a one year low of $131.02 and a one year high of $184.87. The firm has a fifty day moving average price of $166.56 and a 200 day moving average price of $165.73. The company has a market capitalization of $33.00 billion, a PE ratio of 41.41, a price-to-earnings-growth ratio of 8.03 and a beta of 0.89.
Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($1.12). The company had revenue of $824.80 million for 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 revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.02 EPS. As a group, research analysts forecast that Extra Space Storage Inc. will post 8.1 EPS for the current year.
Extra Space Storage Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $6.48 annualized dividend and a dividend yield of 4.16%. Extra Space Storage's dividend payout ratio is 169.63%.
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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