ProShare Advisors LLC Acquires 2,644 Shares of Extra Space Storage Inc. (NYSE:EXR)

ProShare Advisors LLC raised its holdings in Extra Space Storage Inc. (NYSE:EXR) by 7.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 38,609 shares of the real estate investment trust’s stock after buying an additional 2,644 shares during the period. ProShare Advisors LLC’s holdings in Extra Space Storage were worth $5,776,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of EXR. Oregon Public Employees Retirement Fund boosted its stake in shares of Extra Space Storage by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,160 shares of the real estate investment trust’s stock valued at $2,717,000 after purchasing an additional 66 shares during the period. Wedge Capital Management L L P NC boosted its position in Extra Space Storage by 1.3% in the 4th quarter. Wedge Capital Management L L P NC now owns 5,138 shares of the real estate investment trust’s stock valued at $769,000 after buying an additional 68 shares during the period. Lindbrook Capital LLC grew its stake in Extra Space Storage by 14.9% in the 4th quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust’s stock worth $78,000 after acquiring an additional 68 shares in the last quarter. Aptus Capital Advisors LLC increased its position in shares of Extra Space Storage by 4.3% during the fourth quarter. Aptus Capital Advisors LLC now owns 1,638 shares of the real estate investment trust’s stock worth $245,000 after acquiring an additional 68 shares during the period. Finally, Quadrant Capital Group LLC increased its position in shares of Extra Space Storage by 5.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,327 shares of the real estate investment trust’s stock worth $199,000 after acquiring an additional 73 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Activity at Extra Space Storage

In related news, EVP William N. Springer sold 1,220 shares of the 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 transaction, the executive vice president now directly owns 20,158 shares of the company’s stock, valued at $3,077,320.28. This trade represents a 5.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was 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 in the company, valued at approximately $1,355,065.50. This represents a 44.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,392 shares of company stock valued at $1,392,315 in the last ninety days. Corporate insiders own 0.96% of the company’s stock.

Extra Space Storage Stock Up 2.2%

Shares of Extra Space Storage stock opened at $151.80 on Monday. The firm’s 50 day moving average price is $143.10 and its 200-day moving average price is $151.92. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 52-week low of $121.03 and a 52-week high of $184.87. The company has a market cap of $32.21 billion, a P/E ratio of 39.74, a PEG ratio of 7.76 and a beta of 1.14.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.04. The company had revenue of $820.00 million during the quarter, compared to the consensus estimate of $705.12 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. Extra Space Storage’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the firm earned $1.96 earnings per share. On average, sell-side analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors 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 yield of 4.27%. Extra Space Storage’s dividend payout ratio (DPR) is 150.35%.

Analyst Ratings Changes

EXR has been the subject of a number of research reports. Wells Fargo & Company lowered their price target on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a report on Friday, February 21st. Mizuho initiated coverage on Extra Space Storage in a report on Wednesday, April 9th. They issued an “outperform” rating and a $141.00 target price for the company. Benchmark cut their price target on Extra Space Storage from $61.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Wednesday, April 30th. Finally, Barclays dropped their target price on shares of Extra Space Storage from $181.00 to $178.00 and set an “overweight” rating on the stock in a report on Friday. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.46.

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.