Extra Space Storage Inc (NYSE:EXR) Shares Purchased by LVZ Inc.

LVZ Inc. lifted its holdings in Extra Space Storage Inc (NYSE:EXR) by 9.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,166 shares of the real estate investment trust’s stock after purchasing an additional 189 shares during the period. LVZ Inc.’s holdings in Extra Space Storage were worth $322,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Cohen & Steers Inc. grew its holdings in shares of Extra Space Storage by 5.9% in the fourth quarter. Cohen & Steers Inc. now owns 9,246,133 shares of the real estate investment trust’s stock valued at $1,383,094,000 after purchasing an additional 516,941 shares in the last quarter. Norges Bank acquired a new position in shares of Extra Space Storage in the fourth quarter valued at approximately $938,647,000. Dimensional Fund Advisors LP grew its holdings in shares of Extra Space Storage by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,136,640 shares of the real estate investment trust’s stock valued at $469,229,000 after purchasing an additional 24,533 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Extra Space Storage by 3.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,064,970 shares of the real estate investment trust’s stock valued at $458,520,000 after purchasing an additional 104,986 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Extra Space Storage by 48.7% in the fourth quarter. Northern Trust Corp now owns 2,875,049 shares of the real estate investment trust’s stock valued at $430,107,000 after purchasing an additional 941,212 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on EXR. The Goldman Sachs Group reiterated a “buy” rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Mizuho lifted their price target on shares of Extra Space Storage from $141.00 to $153.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 28th. Benchmark decreased their price target on shares of Extra Space Storage from $61.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. JPMorgan Chase & Co. lifted their price target on shares of Extra Space Storage from $160.00 to $162.00 and gave the stock a “neutral” rating in a research note on Friday, June 13th. Finally, Barclays decreased their price target 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 equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $159.54.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction 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 transaction, the chief executive officer now directly owns 9,190 shares of the company’s stock, valued at $1,355,065.50. The trade was a 44.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.96% of the company’s stock.

Extra Space Storage Stock Down 0.3%

Shares of NYSE:EXR opened at $146.06 on Friday. The company has a market capitalization of $30.99 billion, a PE ratio of 33.89, a P/E/G ratio of 3.55 and a beta of 1.11. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.85. Extra Space Storage Inc has a twelve month low of $121.03 and a twelve month high of $184.87. The firm has a 50 day simple moving average of $146.71 and a 200-day simple moving average of $148.98.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.04. The business had revenue of $820.00 million for the quarter, compared to analysts’ expectations of $705.12 million. Extra Space Storage had a net margin of 27.84% and a return on equity of 6.11%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.96 EPS. On average, equities 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 announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $1.62 dividend. The ex-dividend date is Monday, June 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.44%. Extra Space Storage’s payout ratio is 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.