Livforsakringsbolaget Skandia Omsesidigt Acquires 200 Shares of Extra Space Storage Inc. (NYSE:EXR)

Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 200.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 300 shares of the real estate investment trust’s stock after purchasing an additional 200 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Extra Space Storage were worth $48,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Horizon Advisors Inc. raised its position in Extra Space Storage by 1,272.7% during the 1st quarter. First Horizon Advisors Inc. now owns 151 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 140 shares during the last quarter. Zions Bancorporation N.A. raised its position in shares of Extra Space Storage by 241.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 150 shares in the last quarter. Money Concepts Capital Corp purchased a new position in shares of Extra Space Storage in the 4th quarter valued at approximately $27,000. EverSource Wealth Advisors LLC lifted its stake in shares of Extra Space Storage by 162.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 143 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Extra Space Storage in the 3rd quarter valued at approximately $32,000. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Down 1.3 %

Shares of NYSE:EXR opened at $132.52 on Friday. The stock has a fifty day simple moving average of $142.57 and a two-hundred day simple moving average of $137.52. The stock has a market capitalization of $28.04 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 3.30 and a beta of 0.74. Extra Space Storage Inc. has a 12-month low of $101.19 and a 12-month high of $164.99. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.71.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($1.01). Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. The business had revenue of $797.77 million during the quarter, compared to analysts’ expectations of $778.05 million. During the same quarter in the prior year, the firm earned $2.09 EPS. The firm’s revenue for the quarter was up 57.4% compared to the same quarter last year. On average, research analysts anticipate that Extra Space Storage Inc. will post 8.05 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.89%. The ex-dividend date of this dividend was Thursday, March 14th. Extra Space Storage’s dividend payout ratio is currently 131.17%.

Insider Transactions at Extra Space Storage

In other news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $145.00, for a total value of $195,750.00. Following the completion of the transaction, the executive vice president now owns 37,028 shares in the company, valued at $5,369,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $145.00, for a total value of $195,750.00. Following the completion of the transaction, the executive vice president now owns 37,028 shares in the company, valued at $5,369,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Samrat Sondhi sold 2,048 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $146.46, for a total value of $299,950.08. Following the completion of the transaction, the chief marketing officer now owns 94,126 shares of the company’s stock, valued at approximately $13,785,693.96. The disclosure for this sale can be found here. Insiders sold 3,532 shares of company stock worth $514,819 over the last quarter. 1.36% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on EXR. Scotiabank began coverage on Extra Space Storage in a research note on Tuesday, February 13th. They issued a “sector underperform” rating and a $131.00 target price for the company. The Goldman Sachs Group raised their target price on Extra Space Storage from $168.00 to $187.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Wells Fargo & Company raised their target price on Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Saturday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on Extra Space Storage in a research note on Tuesday, January 30th. They issued a “hold” rating and a $141.00 target price for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $150.17.

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.