Smartleaf Asset Management LLC Purchases 119 Shares of Extra Space Storage Inc. (NYSE:EXR)

Smartleaf Asset Management LLC grew its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 18.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 760 shares of the real estate investment trust’s stock after buying an additional 119 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Extra Space Storage were worth $112,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in EXR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Extra Space Storage by 724.1% during the third 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 buying an additional 1,741,320 shares during the last quarter. Manning & Napier Advisors LLC grew its stake in Extra Space Storage by 1,127.2% during the fourth quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust’s stock worth $116,985,000 after buying an additional 718,266 shares during the last quarter. Mizuho Securities USA LLC grew its stake in Extra Space Storage by 1,664.3% during the third quarter. Mizuho Securities USA LLC now owns 288,094 shares of the real estate investment trust’s stock worth $51,912,000 after buying an additional 271,765 shares during the last quarter. State Street Corp grew its stake in Extra Space Storage by 1.7% during the third quarter. State Street Corp now owns 13,390,830 shares of the real estate investment trust’s stock worth $2,412,894,000 after buying an additional 227,006 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Extra Space Storage by 485.7% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 237,331 shares of the real estate investment trust’s stock worth $42,765,000 after buying an additional 196,811 shares during the last quarter. 99.11% of the stock is owned by institutional investors.

Insider Transactions at Extra Space Storage

In related news, EVP William N. Springer sold 1,220 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $152.66, for a total value of $186,245.20. Following the completion of the transaction, the executive vice president now owns 20,158 shares of the company’s stock, valued at approximately $3,077,320.28. This trade represents a 5.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm’s 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 directly owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Truist Financial upped 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. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday. Barclays reduced their target price 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. Royal Bank of Canada reduced their target price on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Finally, Scotiabank reduced their target price on shares of Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $171.36.

Extra Space Storage Trading Up 1.3 %

Shares of NYSE EXR opened at $157.11 on Friday. The company’s 50 day simple moving average is $152.91 and its 200 day simple moving average is $163.07. 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 capitalization of $33.31 billion, a P/E ratio of 41.13, a P/E/G ratio of 7.76 and a beta of 0.91. Extra Space Storage Inc. has a fifty-two week low of $131.02 and a fifty-two week high of $184.87.

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

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.12%. The ex-dividend date is Friday, March 14th. Extra Space Storage’s dividend payout ratio is 160.40%.

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.