Extra Space Storage Inc. (NYSE:EXR) Shares Bought by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd grew its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 0.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,446 shares of the real estate investment trust’s stock after acquiring an additional 127 shares during the period. Gulf International Bank UK Ltd’s holdings in Extra Space Storage were worth $2,564,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. EdgeRock Capital LLC acquired a new position in Extra Space Storage during the 4th quarter worth $26,000. Creekmur Asset Management LLC bought a new position in shares of Extra Space Storage in the 4th quarter worth about $26,000. Anchor Investment Management LLC bought a new position in shares of Extra Space Storage in the 4th quarter worth about $35,000. Bruce G. Allen Investments LLC bought a new position in shares of Extra Space Storage in the 4th quarter worth about $41,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Extra Space Storage by 200.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 300 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 200 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Stock Performance

Extra Space Storage stock opened at $158.93 on Friday. The firm’s 50 day simple moving average is $144.92 and its 200-day simple moving average is $146.23. The company has a market cap of $33.65 billion, a P/E ratio of 35.40, a price-to-earnings-growth ratio of 3.79 and a beta of 0.81. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.15 and a quick ratio of 0.15. Extra Space Storage Inc. has a fifty-two week low of $101.19 and a fifty-two week high of $164.99.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.08%. The ex-dividend date is Friday, June 14th. Extra Space Storage’s dividend payout ratio (DPR) is currently 144.32%.

Analyst Ratings Changes

Several brokerages recently weighed in on EXR. Evercore ISI cut their price objective on shares of Extra Space Storage from $145.00 to $139.00 in a research report on Wednesday, May 1st. Citigroup cut their price objective on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Saturday, March 2nd. Wells Fargo & Company raised their target price on shares of Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Finally, Barclays raised their target price on shares of Extra Space Storage from $157.00 to $158.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $151.83.

Insider Transactions at Extra Space Storage

In other news, Director Joseph J. Bonner sold 677 shares of Extra Space Storage stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $148.22, for a total value of $100,344.94. Following the transaction, the director now directly owns 5,229 shares of the company’s stock, valued at $775,042.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.36% of the stock is currently owned by insiders.

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.