International Assets Investment Management LLC Takes $24.86 Million Position in Extra Space Storage Inc. (NYSE:EXR)

International Assets Investment Management LLC bought a new position in shares of Extra Space Storage Inc. (NYSE:EXR) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 155,039 shares of the real estate investment trust’s stock, valued at approximately $24,857,000. International Assets Investment Management LLC owned approximately 0.07% of Extra Space Storage as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Vaughan Nelson Investment Management L.P. increased its position in shares of Extra Space Storage by 80,945.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 506,533 shares of the real estate investment trust’s stock worth $81,213,000 after acquiring an additional 505,908 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Extra Space Storage by 5.8% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 119,326 shares of the real estate investment trust’s stock valued at $19,180,000 after purchasing an additional 6,582 shares during the period. Arkadios Wealth Advisors lifted its holdings in shares of Extra Space Storage by 41.2% in the fourth quarter. Arkadios Wealth Advisors now owns 6,622 shares of the real estate investment trust’s stock valued at $1,062,000 after purchasing an additional 1,931 shares in the last quarter. Visionary Horizons LLC acquired a new position in shares of Extra Space Storage during the fourth quarter worth about $671,000. Finally, Vanderbilt University grew its holdings in shares of Extra Space Storage by 19.1% during the fourth quarter. Vanderbilt University now owns 4,357 shares of the real estate investment trust’s stock worth $699,000 after buying an additional 700 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Extra Space Storage

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

Extra Space Storage Trading Up 1.5 %

EXR stock opened at $141.87 on Friday. Extra Space Storage Inc. has a one year low of $101.19 and a one year high of $164.99. The stock has a market cap of $30.02 billion, a price-to-earnings ratio of 31.60, a price-to-earnings-growth ratio of 3.41 and a beta of 0.76. The company has a fifty day moving average price of $141.56 and a two-hundred day moving average price of $138.70. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.15 and a quick ratio of 0.30.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.01). The company had revenue of $797.77 million for the quarter, compared to analyst estimates of $778.05 million. Extra Space Storage had a return on equity of 6.76% and a net margin of 29.10%. The company’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.09 EPS. Equities analysts anticipate that Extra Space Storage Inc. will post 8.05 EPS for the current year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $1.62 per share. The ex-dividend date was Thursday, March 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.57%. Extra Space Storage’s payout ratio is 144.32%.

Analysts Set New Price Targets

A number of research firms have weighed in on EXR. Barclays started coverage on Extra Space Storage in a research report on Wednesday, March 27th. They set an “overweight” rating and a $157.00 price target for the company. TheStreet raised shares of Extra Space Storage from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Raymond James reissued an “outperform” rating and set a $160.00 price target on shares of Extra Space Storage in a research report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft assumed coverage on Extra Space Storage in a report on Tuesday, January 30th. They issued a “hold” rating and a $141.00 price objective for the company. Finally, Wells Fargo & Company upped their target price on Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Extra Space Storage currently has a consensus rating of “Hold” and a consensus price target of $149.67.

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.