Mercer Global Advisors Inc. ADV Acquires 20,076 Shares of Extra Space Storage Inc. (NYSE:EXR)

Mercer Global Advisors Inc. ADV lifted its stake in Extra Space Storage Inc. (NYSE:EXR) by 556.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,686 shares of the real estate investment trust’s stock after purchasing an additional 20,076 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Extra Space Storage were worth $3,543,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Tidal Investments LLC increased its position in shares of Extra Space Storage by 34.4% during the third quarter. Tidal Investments LLC now owns 12,640 shares of the real estate investment trust’s stock worth $2,278,000 after acquiring an additional 3,234 shares during the period. Manning & Napier Advisors LLC increased its holdings in Extra Space Storage by 1,127.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust’s stock worth $116,985,000 after purchasing an additional 718,266 shares during the period. Vert Asset Management LLC raised its position in Extra Space Storage by 8.0% during the 4th quarter. Vert Asset Management LLC now owns 93,473 shares of the real estate investment trust’s stock valued at $13,984,000 after purchasing an additional 6,910 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Extra Space Storage by 134.3% in the 4th quarter. Pacer Advisors Inc. now owns 167,735 shares of the real estate investment trust’s stock worth $25,093,000 after buying an additional 96,136 shares during the period. Finally, Brentview Investment Management LLC bought a new position in shares of Extra Space Storage during the 4th quarter worth $2,852,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Trading Down 0.1 %

Shares of NYSE:EXR opened at $149.42 on Tuesday. The business’s 50-day moving average is $144.26 and its 200 day moving average is $153.06. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. Extra Space Storage Inc. has a 1 year low of $121.03 and a 1 year high of $184.87. The firm has a market capitalization of $31.71 billion, a P/E ratio of 39.12, a P/E/G ratio of 7.76 and a beta of 0.96.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.00 EPS for the quarter, beating the consensus estimate of $1.96 by $0.04. The firm had revenue of $820.00 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the firm posted $1.96 EPS. On average, research analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal 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 issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is presently 150.35%.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, EVP William N. Springer sold 1,220 shares of the firm’s 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 completion of the transaction, the executive vice president now directly owns 20,158 shares of the company’s stock, valued at approximately $3,077,320.28. This trade represents a 5.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following 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 have sold a total of 9,392 shares of company stock valued at $1,392,315 in the last ninety days. Company insiders own 0.96% of the company’s stock.

Analyst Ratings Changes

EXR has been the subject of a number of research reports. Evercore ISI upped their price objective on shares of Extra Space Storage from $144.00 to $149.00 and gave the stock an “in-line” rating in a research note on Thursday, May 1st. Scotiabank raised shares of Extra Space Storage from a “sector perform” rating to a “sector outperform” rating and lowered their price target for the stock from $165.00 to $149.00 in a research report on Wednesday, April 9th. Wells Fargo & Company dropped their price objective on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Friday, February 21st. Barclays reduced 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. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $165.42.

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.