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

Citigroup Inc. lifted its position in Extra Space Storage Inc (NYSE:EXR) by 47.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 220,863 shares of the real estate investment trust’s stock after acquiring an additional 70,898 shares during the quarter. Citigroup Inc. owned 0.10% of Extra Space Storage worth $32,796,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in EXR. Northern Trust Corp boosted its holdings in shares of Extra Space Storage by 48.7% in the 4th quarter. Northern Trust Corp now owns 2,875,049 shares of the real estate investment trust’s stock valued at $430,107,000 after buying an additional 941,212 shares during the period. Balyasny Asset Management L.P. acquired a new stake in Extra Space Storage during the fourth quarter worth about $107,453,000. Cohen & Steers Inc. lifted its holdings in 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 worth $1,383,094,000 after acquiring an additional 516,941 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Extra Space Storage in the fourth quarter valued at approximately $74,984,000. Finally, GAMMA Investing LLC boosted its stake in Extra Space Storage by 14,642.5% in the first quarter. GAMMA Investing LLC now owns 431,512 shares of the real estate investment trust’s stock valued at $64,075,000 after acquiring an additional 428,585 shares during the period. 99.11% of the stock is currently owned by institutional investors.

Extra Space Storage Trading Down 0.9%

Extra Space Storage stock opened at $135.17 on Tuesday. Extra Space Storage Inc has a 12-month low of $121.03 and a 12-month high of $184.87. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a market capitalization of $28.69 billion, a PE ratio of 29.32, a price-to-earnings-growth ratio of 3.31 and a beta of 1.07. The firm has a 50 day simple moving average of $147.34 and a 200-day simple moving average of $147.72.

Extra Space Storage (NYSE:EXR) last released its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.01). Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%. The firm had revenue of $841.62 million during the quarter, compared to analyst estimates of $719.43 million. During the same quarter last year, the company earned $2.06 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities research analysts expect that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a $1.62 dividend. The ex-dividend date was Monday, June 16th. This represents a $6.48 annualized dividend and a yield of 4.8%. Extra Space Storage’s payout ratio is 140.56%.

Insider Buying and Selling

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $150.35, for a total transaction of $1,127,625.00. Following the completion of the transaction, the chief executive officer owned 27,260 shares in the company, valued at approximately $4,098,541. This trade represents a 21.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on EXR shares. BNP Paribas Exane assumed coverage on Extra Space Storage in a research report on Tuesday, June 24th. They set a “neutral” rating and a $156.00 price target on the stock. Mizuho increased their target price on Extra Space Storage from $141.00 to $153.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 28th. JPMorgan Chase & Co. boosted their price target on shares of Extra Space Storage from $160.00 to $162.00 and gave the company a “neutral” rating in a report on Friday, June 13th. Benchmark lowered 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 report on Tuesday, May 13th. Finally, Scotiabank lifted their price objective on shares of Extra Space Storage from $149.00 to $166.00 and gave the company a “sector outperform” rating in a research report on Monday, May 12th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $155.85.

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.