FIL Ltd Buys 5,187 Shares of Extra Space Storage Inc. (NYSE:EXR)

FIL Ltd lifted its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 21.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,884 shares of the real estate investment trust’s stock after buying an additional 5,187 shares during the quarter. FIL Ltd’s holdings in Extra Space Storage were worth $4,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of EXR. MML Investors Services LLC raised its holdings in Extra Space Storage by 12.6% in the third quarter. MML Investors Services LLC now owns 5,994 shares of the real estate investment trust’s stock worth $1,080,000 after purchasing an additional 672 shares in the last quarter. Coldstream Capital Management Inc. grew its position in shares of Extra Space Storage by 8.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,905 shares of the real estate investment trust’s stock worth $699,000 after buying an additional 320 shares during the period. Sanctuary Advisors LLC increased its stake in shares of Extra Space Storage by 9.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 18,480 shares of the real estate investment trust’s stock worth $3,107,000 after acquiring an additional 1,549 shares in the last quarter. World Investment Advisors LLC purchased a new position in Extra Space Storage during the 3rd quarter valued at about $216,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Extra Space Storage during the third quarter worth about $654,000. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Trading Up 1.5 %

NYSE:EXR opened at $133.77 on Friday. The company has a market cap of $28.39 billion, a PE ratio of 35.02, a price-to-earnings-growth ratio of 7.76 and a beta of 0.96. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The company has a 50 day simple moving average of $148.62 and a two-hundred day simple moving average of $156.62. Extra Space Storage Inc. has a 12 month low of $121.03 and a 12 month high of $184.87.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.93. The company had revenue of $821.90 million for 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%. Research analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $1.62 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.84%. Extra Space Storage’s dividend payout ratio (DPR) is 160.40%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada lowered their target price on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Barclays lowered their price objective on Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Wells Fargo & Company reduced 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. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Friday, March 7th. Finally, Mizuho began coverage on shares of Extra Space Storage in a research note on Wednesday. They set an “outperform” rating and a $141.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $167.25.

Insider Buying and Selling

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total value of $1,105,875.00. Following the completion of the sale, the chief executive officer now directly owns 9,190 shares of the company’s stock, valued at approximately $1,355,065.50. This represents a 44.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $152.66, for a total transaction of $186,245.20. Following the transaction, the executive vice president now directly owns 20,158 shares in the company, valued at $3,077,320.28. This represents a 5.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,392 shares of company stock valued at $1,392,315. 1.36% of the stock is owned by company insiders.

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.