Alta Capital Management LLC Has $4.05 Million Holdings in Extra Space Storage Inc. (NYSE:EXR)

Alta Capital Management LLC lifted its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 9.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,102 shares of the real estate investment trust’s stock after purchasing an additional 2,245 shares during the period. Alta Capital Management LLC’s holdings in Extra Space Storage were worth $4,054,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. State Street Corp lifted its holdings in shares of Extra Space Storage by 1.7% during the third quarter. State Street Corp now owns 13,390,830 shares of the real estate investment trust’s stock worth $2,412,894,000 after purchasing an additional 227,006 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Extra Space Storage by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,409,330 shares of the real estate investment trust’s stock valued at $360,436,000 after buying an additional 43,223 shares during the period. Daiwa Securities Group Inc. lifted its holdings in Extra Space Storage by 10.4% in the third quarter. Daiwa Securities Group Inc. now owns 2,020,459 shares of the real estate investment trust’s stock valued at $364,066,000 after buying an additional 189,949 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Extra Space Storage by 724.1% in the third 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 buying an additional 1,741,320 shares during the period. Finally, Hamlin Capital Management LLC lifted its holdings in Extra Space Storage by 11.1% in the fourth quarter. Hamlin Capital Management LLC now owns 850,800 shares of the real estate investment trust’s stock valued at $127,280,000 after buying an additional 84,757 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the sale, the chief executive officer now directly owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. This represents a 31.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.36% of the stock is currently owned by insiders.

Extra Space Storage Trading Up 1.0 %

NYSE:EXR opened at $154.02 on Tuesday. 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 firm has a 50-day moving average of $152.39 and a 200-day moving average of $163.34. The company has a market cap of $32.65 billion, a PE ratio of 40.32, a PEG ratio of 7.76 and a beta of 0.91. Extra Space Storage Inc. has a one year low of $131.02 and a one year high of $184.87.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.93. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. As a group, equities research analysts expect that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date is Friday, March 14th. Extra Space Storage’s payout ratio is 160.40%.

Wall Street Analyst Weigh In

EXR has been the topic of several recent analyst reports. Truist Financial boosted their target price on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a report on Thursday, December 5th. StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Royal Bank of Canada dropped their price objective 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. Scotiabank upgraded shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective on the stock in a report on Friday, January 10th. Finally, Barclays dropped their price objective on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $171.55.

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.