FIL Ltd Raises Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

FIL Ltd lifted its holdings in Extra Space Storage Inc. (NYSE:EXR) by 21.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,884 shares of the real estate investment trust’s stock after purchasing an additional 5,187 shares during the quarter. FIL Ltd’s holdings in Extra Space Storage were worth $4,471,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of EXR. Golden State Wealth Management LLC purchased a new position in shares of Extra Space Storage in the 4th quarter worth $25,000. Harbour Investments Inc. grew its position in Extra Space Storage by 90.9% in the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 80 shares in the last quarter. Quent Capital LLC grew its position in Extra Space Storage by 89.0% in the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 154 shares in the last quarter. Asset Planning Inc bought a new stake in Extra Space Storage during the fourth quarter worth approximately $52,000. Finally, Kestra Investment Management LLC purchased a new stake in Extra Space Storage during the fourth quarter valued at approximately $54,000. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Price Performance

Shares of EXR stock opened at $133.77 on Friday. Extra Space Storage Inc. has a twelve month low of $121.03 and a twelve month high of $184.87. 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 stock has a fifty day simple moving average of $148.62 and a two-hundred day simple moving average of $156.62. The stock has a market capitalization of $28.39 billion, a price-to-earnings ratio of 35.02, a P/E/G ratio of 7.76 and a beta of 0.96.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.93. The company had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. On average, analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

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

Insider Buying and Selling

In other Extra Space Storage news, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $152.66, for a total value of $186,245.20. Following the transaction, the executive vice president now owns 20,158 shares in the company, valued at $3,077,320.28. The trade was a 5.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 9,190 shares of the company’s stock, valued at $1,355,065.50. This represents a 44.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,392 shares of company stock valued at $1,392,315 over the last 90 days. Corporate insiders own 1.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday, March 7th. Scotiabank upgraded shares of Extra Space Storage from a “sector perform” rating to a “sector outperform” rating and cut their price objective for the company from $165.00 to $149.00 in a research report on Wednesday. Mizuho started coverage on shares of Extra Space Storage in a report on Wednesday. They issued an “outperform” rating and a $141.00 target price for the company. Wells Fargo & Company dropped their price target on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. Finally, Barclays decreased their price objective on shares of 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. Two analysts have rated the stock with a sell rating, five have assigned 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, the stock presently has an average rating of “Hold” and a consensus target price of $167.25.

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.