Metis Global Partners LLC Raises Stake in Extra Space Storage Inc. (NYSE:EXR)

Metis Global Partners LLC grew its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 21.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,848 shares of the real estate investment trust’s stock after acquiring an additional 5,297 shares during the quarter. Metis Global Partners LLC’s holdings in Extra Space Storage were worth $5,378,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp boosted its position in Extra Space Storage by 19.3% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 247,203 shares of the real estate investment trust’s stock valued at $36,307,000 after buying an additional 40,055 shares during the period. Gateway Investment Advisers LLC purchased a new position in shares of Extra Space Storage in the 2nd quarter valued at approximately $16,026,000. Centersquare Investment Management LLC boosted its position in shares of Extra Space Storage by 1.3% during the first quarter. Centersquare Investment Management LLC now owns 2,546,475 shares of the real estate investment trust’s stock valued at $341,941,000 after purchasing an additional 32,591 shares in the last quarter. MADDEN SECURITIES Corp purchased a new stake in Extra Space Storage in the second quarter worth $1,002,000. Finally, Tidal Investments LLC lifted its position in Extra Space Storage by 262.5% during the first quarter. Tidal Investments LLC now owns 12,967 shares of the real estate investment trust’s stock valued at $1,906,000 after buying an additional 9,390 shares during the period. 99.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the completion of the sale, the chief executive officer now owns 24,190 shares of the company’s stock, valued at approximately $4,318,398.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP William N. Springer sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total transaction of $350,660.00. Following the transaction, the executive vice president now directly owns 11,919 shares in the company, valued at approximately $2,089,758.27. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total value of $1,338,900.00. Following the sale, the chief executive officer now directly owns 24,190 shares in the company, valued at approximately $4,318,398.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,970 shares of company stock valued at $3,367,307 in the last 90 days. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Up 0.9 %

Shares of EXR opened at $164.04 on Thursday. The business’s 50 day simple moving average is $171.88 and its 200-day simple moving average is $162.26. Extra Space Storage Inc. has a 1 year low of $122.02 and a 1 year high of $184.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The stock has a market capitalization of $34.77 billion, a price-to-earnings ratio of 42.94, a price-to-earnings-growth ratio of 6.11 and a beta of 0.87.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing the consensus estimate of $2.03 by ($1.12). Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business had revenue of $824.80 million for the quarter, compared to the consensus estimate of $826.93 million. During the same quarter last year, the business earned $2.02 EPS. Extra Space Storage’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, equities analysts expect that Extra Space Storage Inc. will post 8.09 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend was Monday, September 16th. Extra Space Storage’s dividend payout ratio is presently 169.63%.

Analysts Set New Price Targets

Several brokerages recently issued reports on EXR. Royal Bank of Canada began coverage on shares of Extra Space Storage in a research note on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 price target for the company. Scotiabank raised their price target on shares of Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a research report on Thursday, August 22nd. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $175.00 price objective on shares of Extra Space Storage in a research report on Monday, October 21st. Raymond James upped their price target on Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Finally, StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $171.50.

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.