UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 161,248 Shares of Extra Space Storage Inc. (NYSE:EXR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 8.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,143,047 shares of the real estate investment trust’s stock after buying an additional 161,248 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Extra Space Storage were worth $320,600,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of EXR. Golden State Wealth Management LLC bought a new position in Extra Space Storage in the 4th quarter valued at about $25,000. Harbour Investments Inc. boosted its holdings in shares of Extra Space Storage by 90.9% during 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 during the period. Quent Capital LLC grew its position in shares of 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 valued at $49,000 after purchasing an additional 154 shares during the last quarter. Asset Planning Inc bought a new position in shares of Extra Space Storage during the fourth quarter worth approximately $52,000. Finally, Quarry LP increased its stake in shares of Extra Space Storage by 156.1% during the fourth quarter. Quarry LP now owns 356 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 217 shares during the period. Institutional investors own 99.11% of the company’s stock.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 9,190 shares in the company, valued at approximately $1,355,065.50. This represents a 44.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William N. Springer sold 1,220 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $152.66, for a total value of $186,245.20. Following the sale, the executive vice president now directly owns 20,158 shares in the company, valued at approximately $3,077,320.28. This trade 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 worth $1,392,315. Corporate insiders own 0.96% of the company’s stock.

Extra Space Storage Stock Performance

Shares of Extra Space Storage stock opened at $145.49 on Thursday. The company has a 50 day moving average of $143.33 and a 200-day moving average of $151.81. The company has a market cap of $30.87 billion, a PE ratio of 38.09, a price-to-earnings-growth ratio of 7.76 and a beta of 1.14. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 1-year low of $121.03 and a 1-year high of $184.87.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.04. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The firm had revenue of $820.00 million for the quarter, compared to the consensus estimate of $705.12 million. During the same quarter last year, the business posted $1.96 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. As a group, equities research analysts forecast 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 announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $1.62 dividend. The ex-dividend date was Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.45%. Extra Space Storage’s dividend payout ratio (DPR) is currently 150.35%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Scotiabank boosted their price target on Extra Space Storage from $149.00 to $166.00 and gave the company a “sector outperform” rating in a research note on Monday, May 12th. Benchmark dropped their target price on Extra Space Storage from $61.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, May 13th. The Goldman Sachs Group reissued a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Mizuho initiated coverage on shares of Extra Space Storage in a research report on Wednesday, April 9th. They set an “outperform” rating and a $141.00 price target on the stock. Finally, Barclays dropped their price objective on shares of Extra Space Storage from $181.00 to $178.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $158.46.

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.