Extra Space Storage Inc. (NYSE:EXR) Shares Bought by Capital International Sarl

Capital International Sarl lifted its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 22.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,709 shares of the real estate investment trust’s stock after purchasing an additional 1,968 shares during the quarter. Capital International Sarl’s holdings in Extra Space Storage were worth $1,602,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC acquired a new stake in shares of Extra Space Storage in the 4th quarter valued at $25,000. Harbour Investments Inc. boosted its holdings in Extra Space Storage by 90.9% in the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 80 shares in the last quarter. Quent Capital LLC raised its holdings in Extra Space Storage by 89.0% during the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 154 shares in the last quarter. Asset Planning Inc purchased a new position in shares of Extra Space Storage in the 4th quarter valued at $52,000. Finally, Kestra Investment Management LLC acquired a new stake in Extra Space Storage during the 4th quarter worth $54,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

EXR has been the subject of several research analyst reports. Royal Bank of Canada decreased their price objective on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. The Goldman Sachs Group restated a “buy” rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Mizuho started coverage on Extra Space Storage in a research note on Wednesday, April 9th. They issued an “outperform” rating and a $141.00 price objective for the company. Wells Fargo & Company cut their target price on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday, February 21st. Finally, Scotiabank upgraded shares of Extra Space Storage from a “sector perform” rating to a “sector outperform” rating and decreased their price target for the stock from $165.00 to $149.00 in a research note on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $167.25.

Insiders Place Their Bets

In other news, Director Joseph J. Bonner sold 672 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $149.10, for a total value of $100,195.20. Following the completion of the sale, the director now owns 4,557 shares in the company, valued at approximately $679,448.70. This trade represents a 12.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the sale, the chief executive officer now directly owns 9,190 shares of the company’s stock, valued at approximately $1,355,065.50. The trade was a 44.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,392 shares of company stock valued at $1,392,315. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Up 2.0 %

Shares of NYSE:EXR opened at $140.99 on Friday. Extra Space Storage Inc. has a fifty-two week low of $121.03 and a fifty-two week high of $184.87. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The firm’s 50-day simple moving average is $146.92 and its 200-day simple moving average is $155.42. The company has a market cap of $29.92 billion, a price-to-earnings ratio of 36.91, a PEG ratio of 7.76 and a beta of 0.96.

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

Extra Space Storage Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.60%. Extra Space Storage’s dividend payout ratio is currently 160.40%.

About Extra Space Storage

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.