Bessemer Group Inc. Decreases Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Bessemer Group Inc. lessened its stake in Extra Space Storage Inc. (NYSE:EXR) by 1.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,045 shares of the real estate investment trust’s stock after selling 270 shares during the quarter. Bessemer Group Inc.’s holdings in Extra Space Storage were worth $2,998,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC acquired a new stake in shares of Extra Space Storage in the fourth quarter valued at about $25,000. Harbour Investments Inc. lifted its stake in Extra Space Storage by 90.9% in the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 80 shares in the last quarter. Quent Capital LLC boosted its holdings in Extra Space Storage by 89.0% in the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 154 shares during the last quarter. Asset Planning Inc purchased a new stake in Extra Space Storage during the 4th quarter worth approximately $52,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Extra Space Storage during the fourth quarter valued at approximately $54,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total value of $1,105,875.00. Following the completion of the sale, the chief executive officer now owns 9,190 shares in the company, valued at approximately $1,355,065.50. This trade represents a 44.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William N. Springer sold 1,220 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $152.66, for a total value of $186,245.20. Following the completion of the sale, the executive vice president now directly owns 20,158 shares in the company, valued at approximately $3,077,320.28. The trade was a 5.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,392 shares of company stock worth $1,392,315 over the last three months. Insiders own 1.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EXR. Mizuho began coverage on Extra Space Storage in a research note on Wednesday. They issued an “outperform” rating and a $141.00 price target on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Extra Space Storage in a research note on Thursday, March 6th. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Wells Fargo & Company lowered their price target on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. Finally, Barclays dropped their price objective on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $167.25.

Extra Space Storage Stock Up 1.5 %

EXR stock opened at $133.77 on Friday. Extra Space Storage Inc. has a one year low of $121.03 and a one year high of $184.87. The firm has a market cap of $28.39 billion, a PE ratio of 35.02, a PEG ratio of 7.76 and a beta of 0.96. The firm’s 50 day moving average price is $148.62 and its 200-day moving average price is $156.62. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23.

Extra Space Storage (NYSE:EXR) last posted its 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. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company had revenue of $821.90 million for the quarter, compared to the consensus estimate of $707.34 million. On average, equities research analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.84%. 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 Company 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.