Ceredex Value Advisors LLC Buys 18,075 Shares of Extra Space Storage Inc. (NYSE:EXR)

Ceredex Value Advisors LLC raised its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 12.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 160,750 shares of the real estate investment trust’s stock after purchasing an additional 18,075 shares during the quarter. Ceredex Value Advisors LLC owned approximately 0.08% of Extra Space Storage worth $24,048,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in EXR. MML Investors Services LLC raised its stake in Extra Space Storage by 12.6% during the third quarter. MML Investors Services LLC now owns 5,994 shares of the real estate investment trust’s stock worth $1,080,000 after buying an additional 672 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in Extra Space Storage by 9.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 18,480 shares of the real estate investment trust’s stock worth $3,107,000 after acquiring an additional 1,549 shares during the period. World Investment Advisors LLC bought a new position in shares of Extra Space Storage in the 3rd quarter worth about $216,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Extra Space Storage in the 3rd quarter valued at about $654,000. Finally, Tidal Investments LLC lifted its stake in shares of Extra Space Storage by 34.4% in the 3rd quarter. Tidal Investments LLC now owns 12,640 shares of the real estate investment trust’s stock valued at $2,278,000 after purchasing an additional 3,234 shares during the period. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Up 0.4 %

EXR stock opened at $138.17 on Wednesday. The firm has a market capitalization of $29.32 billion, a PE ratio of 36.17, a P/E/G ratio of 7.76 and a beta of 0.96. 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 Inc. has a twelve month low of $121.03 and a twelve month high of $184.87. The stock’s 50 day moving average is $147.92 and its 200-day moving average is $156.07.

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

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $1.62 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.69%. Extra Space Storage’s payout ratio is presently 160.40%.

Insider Activity

In other news, EVP William N. Springer sold 1,220 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following the completion of the sale, the executive vice president now directly owns 20,158 shares of the company’s stock, valued at $3,077,320.28. This trade represents a 5.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the completion of the transaction, the chief executive officer now directly owns 9,190 shares in the company, valued at $1,355,065.50. This trade represents a 44.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,392 shares of company stock valued at $1,392,315 over the last three months. Corporate insiders own 1.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on EXR shares. The Goldman Sachs Group reiterated a “buy” rating on shares of Extra Space Storage in a report on Thursday, March 6th. Royal Bank of Canada dropped 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. Barclays reduced their price target on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. Mizuho initiated coverage on shares of Extra Space Storage in a report on Wednesday, April 9th. They set an “outperform” rating and a $141.00 price objective on the stock. Finally, Wells Fargo & Company reduced their target price on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Extra Space Storage has a consensus rating of “Hold” and a consensus price target of $167.25.

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.