Andra AP fonden Grows Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Andra AP fonden raised its stake in Extra Space Storage Inc. (NYSE:EXR) by 202.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,700 shares of the real estate investment trust’s stock after buying an additional 28,600 shares during the period. Andra AP fonden’s holdings in Extra Space Storage were worth $6,388,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Candriam S.C.A. grew its holdings in Extra Space Storage by 9.2% in the fourth quarter. Candriam S.C.A. now owns 14,507 shares of the real estate investment trust’s stock valued at $2,170,000 after purchasing an additional 1,228 shares during the last quarter. Lindbrook Capital LLC grew its position in shares of Extra Space Storage by 14.9% in the fourth quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust’s stock valued at $78,000 after purchasing an additional 68 shares during the last quarter. Carmel Capital Partners LLC increased its stake in shares of Extra Space Storage by 4.0% during the 4th quarter. Carmel Capital Partners LLC now owns 4,420 shares of the real estate investment trust’s stock worth $661,000 after purchasing an additional 170 shares in the last quarter. McDonough Capital Management Inc raised its position in shares of Extra Space Storage by 7.7% during the 4th quarter. McDonough Capital Management Inc now owns 8,983 shares of the real estate investment trust’s stock worth $1,344,000 after purchasing an additional 639 shares during the last quarter. Finally, Inceptionr LLC purchased a new stake in Extra Space Storage in the 4th quarter valued at approximately $463,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on EXR. Barclays dropped their price objective on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday. Wells Fargo & Company decreased their target price on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. Royal Bank of Canada cut their price target on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Finally, Scotiabank decreased their price objective on Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating on the stock in a report on Wednesday. Two analysts have rated the stock with a sell rating, six 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 an average target price of $171.36.

Insider Transactions at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the company’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 sale, the chief executive officer now directly owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. This represents a 31.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William N. Springer sold 1,220 shares of the firm’s stock in a transaction dated 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 directly owns 20,158 shares in the company, valued at $3,077,320.28. This trade represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Trading Up 1.3 %

Shares of EXR opened at $157.11 on Friday. Extra Space Storage Inc. has a twelve month low of $131.02 and a twelve month high of $184.87. The firm has a market capitalization of $33.31 billion, a P/E ratio of 41.13, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The stock’s fifty day simple moving average is $152.91 and its 200 day simple moving average is $163.02.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $707.34 million. On average, equities research analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

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

Extra Space Storage Company 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.