Vident Advisory LLC Boosts Stake in Extra Space Storage Inc. (NYSE:EXR)

Vident Advisory LLC lifted its holdings in Extra Space Storage Inc. (NYSE:EXR) by 56.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,254 shares of the real estate investment trust’s stock after buying an additional 5,155 shares during the quarter. Vident Advisory LLC’s holdings in Extra Space Storage were worth $2,133,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new stake in shares of Extra Space Storage in the fourth quarter valued at approximately $25,000. Harbour Investments Inc. raised its holdings in 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 purchasing an additional 80 shares during the last quarter. Quent Capital LLC raised its holdings in Extra Space Storage by 89.0% during the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 154 shares during the last quarter. Asset Planning Inc acquired a new position in Extra Space Storage during the fourth quarter worth $52,000. Finally, Quarry LP raised its holdings in 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 last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Mizuho assumed coverage on Extra Space Storage in a report on Wednesday, April 9th. They set an “outperform” rating and a $141.00 price objective for the company. Wells Fargo & Company lowered their price objective on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research report on Friday, February 21st. Evercore ISI boosted their price target on Extra Space Storage from $144.00 to $149.00 and gave the company an “in-line” rating in a research report on Thursday, May 1st. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Wednesday, April 30th. Finally, Benchmark decreased their target price on Extra Space Storage from $61.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, May 13th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $158.46.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the 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 directly 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP William N. Springer sold 1,220 shares of the stock in a transaction on Friday, February 28th. The stock was 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. The trade was a 5.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,392 shares of company stock valued at $1,392,315. 0.96% of the stock is owned by corporate insiders.

Extra Space Storage Trading Down 4.3%

Shares of NYSE EXR opened at $145.49 on Thursday. The stock’s 50 day moving average price is $143.33 and its two-hundred day moving average price is $151.81. Extra Space Storage Inc. has a 52-week low of $121.03 and a 52-week high of $184.87. The stock has a market capitalization of $30.87 billion, a P/E ratio of 38.09, a PEG ratio of 7.76 and a beta of 1.14. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share for the quarter, topping 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 business had revenue of $820.00 million for the quarter, compared to analysts’ expectations of $705.12 million. During the same period in the prior year, the firm earned $1.96 EPS. The business’s quarterly revenue was up 2.6% on a year-over-year basis. On average, analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date was Friday, March 14th. Extra Space Storage’s payout ratio is currently 150.35%.

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.