Gulf International Bank UK Ltd Reduces Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Gulf International Bank UK Ltd reduced its stake in Extra Space Storage Inc. (NYSE:EXR) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,523 shares of the real estate investment trust’s stock after selling 172 shares during the period. Gulf International Bank UK Ltd’s holdings in Extra Space Storage were worth $2,471,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new position in Extra Space Storage in the fourth quarter valued at approximately $25,000. Ashton Thomas Securities LLC purchased a new position in Extra Space Storage in the third quarter valued at approximately $33,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Extra Space Storage during the third quarter worth approximately $42,000. Continuum Advisory LLC grew its position in shares of Extra Space Storage by 68.1% during the third quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 126 shares during the last quarter. Finally, Quent Capital LLC grew its position in shares of 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 acquiring an additional 154 shares during the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EXR has been the topic of a number of research reports. Barclays lowered their target price on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. Truist Financial lifted their price objective on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Royal Bank of Canada lowered 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 research report on Thursday. Finally, 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 research report on Friday, January 10th. One equities 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 stock. According to data from MarketBeat.com, Extra Space Storage presently has a consensus rating of “Hold” and an average target price of $171.55.

Insider Transactions at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the completion of the transaction, the chief executive officer now owns 16,690 shares of the company’s stock, valued at $2,470,286.90. The trade was a 31.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $152.36 on Friday. The company has a market cap of $32.30 billion, a P/E ratio of 39.88, a price-to-earnings-growth ratio of 7.76 and a beta of 0.91. 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 Inc. has a one year low of $131.02 and a one year high of $184.87. The business has a fifty day moving average of $152.27 and a two-hundred day moving average of $163.47.

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

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.25%. The ex-dividend date is Friday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is presently 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.