Merit Financial Group LLC lifted its position in shares of Extra Space Storage Inc. (NYSE:EXR – Free Report) by 163.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,124 shares of the real estate investment trust’s stock after acquiring an additional 1,936 shares during the quarter. Merit Financial Group LLC’s holdings in Extra Space Storage were worth $467,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV increased its holdings in shares of Extra Space Storage by 8.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 3,599 shares of the real estate investment trust’s stock worth $568,000 after buying an additional 270 shares during the last quarter. Blair William & Co. IL bought a new stake in Extra Space Storage during the second quarter worth about $221,000. Benjamin F. Edwards & Company Inc. raised its position in shares of Extra Space Storage by 3.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,730 shares of the real estate investment trust’s stock worth $424,000 after purchasing an additional 94 shares during the last quarter. Profund Advisors LLC raised its stake in shares of Extra Space Storage by 2.9% in the second quarter. Profund Advisors LLC now owns 3,279 shares of the real estate investment trust’s stock worth $510,000 after purchasing an additional 93 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in Extra Space Storage by 5.9% during the 2nd quarter. ProShare Advisors LLC now owns 37,384 shares of the real estate investment trust’s stock valued at $5,810,000 after buying an additional 2,093 shares during the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.
Extra Space Storage Stock Up 1.0 %
Shares of NYSE:EXR opened at $151.54 on Friday. Extra Space Storage Inc. has a 52-week low of $131.02 and a 52-week high of $184.87. The stock has a market cap of $32.12 billion, a P/E ratio of 39.67, a PEG ratio of 7.57 and a beta of 0.91. The business has a fifty day moving average of $156.45 and a two-hundred day moving average of $164.83. 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 – Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($1.12). The firm had revenue of $824.80 million during the quarter, compared to analysts’ expectations of $826.93 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. Extra Space Storage’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.02 EPS. On average, research analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.
Extra Space Storage Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a $1.62 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.28%. Extra Space Storage’s payout ratio is 169.63%.
Analysts Set New Price Targets
EXR has been the topic of several recent research reports. Barclays decreased their price objective on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $175.00 target price on shares of Extra Space Storage in a research note on Monday, October 21st. Scotiabank upgraded shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective on the stock in a report on Friday, January 10th. StockNews.com downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Finally, Truist Financial upped their price objective on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $171.25.
Read Our Latest Analysis on Extra Space Storage
Insider Transactions at Extra Space Storage
In other Extra Space Storage news, Director Diane Olmstead sold 3,081 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $164.56, for a total transaction of $507,009.36. Following the transaction, the director now owns 5,877 shares of the company’s stock, valued at approximately $967,119.12. This trade represents a 34.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 16,690 shares in the company, valued at approximately $2,470,286.90. This represents a 31.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.36% of the company’s stock.
Extra Space Storage Profile
(Free Report)
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.
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