Extra Space Storage Inc. (NYSE:EXR) Shares Purchased by D.A. Davidson & CO.

D.A. Davidson & CO. raised its holdings in Extra Space Storage Inc. (NYSE:EXR) by 23.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,768 shares of the real estate investment trust’s stock after acquiring an additional 340 shares during the quarter. D.A. Davidson & CO.’s holdings in Extra Space Storage were worth $264,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Pathway Financial Advisers LLC grew its position in Extra Space Storage by 17,832.9% during the third quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust’s stock worth $363,783,000 after buying an additional 2,007,626 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Extra Space Storage by 724.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust’s stock worth $357,100,000 after acquiring an additional 1,741,320 shares in the last quarter. Manning & Napier Advisors LLC grew its holdings in shares of Extra Space Storage by 1,127.2% in the 4th quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust’s stock worth $116,985,000 after acquiring an additional 718,266 shares during the period. Mizuho Securities USA LLC grew its holdings in shares of Extra Space Storage by 1,664.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 288,094 shares of the real estate investment trust’s stock worth $51,912,000 after acquiring an additional 271,765 shares during the period. Finally, State Street Corp increased its stake in Extra Space Storage by 1.7% in the 3rd quarter. State Street Corp now owns 13,390,830 shares of the real estate investment trust’s stock valued at $2,412,894,000 after purchasing an additional 227,006 shares in the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the transaction, the chief executive officer now directly owns 16,690 shares in the company, valued at $2,470,286.90. This represents a 31.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.36% of the stock is owned by company insiders.

Extra Space Storage Stock Performance

NYSE:EXR opened at $154.05 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The firm has a market cap of $32.66 billion, a PE ratio of 40.33, a P/E/G ratio of 7.76 and a beta of 0.91. The firm has a 50 day simple moving average of $151.94 and a 200-day simple moving average of $163.62. Extra Space Storage Inc. has a 1-year low of $131.02 and a 1-year high of $184.87.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.93. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. On average, equities analysts expect that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage’s payout ratio is 169.63%.

Analyst Upgrades and Downgrades

A number of research firms have commented on EXR. StockNews.com upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. Barclays decreased their price objective on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Wells Fargo & Company dropped their target price on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a report on Friday, February 21st. Truist Financial lifted their target price on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Finally, Scotiabank upgraded shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price target on the stock in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Extra Space Storage has an average rating of “Hold” and a consensus price target of $173.09.

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.