Perpetual Ltd Sells 8,862 Shares of Extra Space Storage Inc. (NYSE:EXR)

Perpetual Ltd cut its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 78.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,446 shares of the real estate investment trust’s stock after selling 8,862 shares during the period. Perpetual Ltd’s holdings in Extra Space Storage were worth $366,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of EXR. Pathway Financial Advisers LLC lifted its stake in Extra Space Storage by 17,832.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust’s stock valued at $363,783,000 after acquiring an additional 2,007,626 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in 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 valued at $357,100,000 after acquiring an additional 1,741,320 shares in the last quarter. Mizuho Securities USA LLC lifted its stake in Extra Space Storage by 1,664.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 288,094 shares of the real estate investment trust’s stock valued at $51,912,000 after acquiring an additional 271,765 shares in the last quarter. Hamlin Capital Management LLC lifted its stake in Extra Space Storage by 44.8% during the 3rd quarter. Hamlin Capital Management LLC now owns 766,043 shares of the real estate investment trust’s stock valued at $138,033,000 after acquiring an additional 236,908 shares in the last quarter. Finally, State Street Corp lifted its stake in Extra Space Storage by 1.7% during 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 acquiring an additional 227,006 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on EXR shares. Evercore ISI dropped their price objective on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a research note on Monday, October 14th. StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $175.00 target price on shares of Extra Space Storage in a research report on Monday, October 21st. Barclays decreased their target price 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. Finally, Scotiabank raised Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 target price for the company in a research report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $171.25.

Extra Space Storage Trading Up 1.0 %

Shares of EXR opened at $151.54 on Friday. The business has a 50-day moving average of $156.45 and a 200 day moving average of $164.83. Extra Space Storage Inc. has a fifty-two week low of $131.02 and a fifty-two week high of $184.87. The firm has a market cap of $32.12 billion, a P/E ratio of 39.67, a price-to-earnings-growth ratio of 7.57 and a beta of 0.91. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). The company had revenue of $824.80 million for 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%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.02 EPS. As a group, research analysts forecast that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date was Monday, December 16th. Extra Space Storage’s payout ratio is presently 169.63%.

Insider Buying and Selling at Extra Space Storage

In other news, Director Diane Olmstead sold 3,081 shares of Extra Space Storage 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 completion of the sale, the director now owns 5,877 shares in the company, valued at approximately $967,119.12. This trade represents a 34.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total value of $1,110,075.00. Following the sale, the chief executive officer now 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. Insiders own 1.36% of the company’s stock.

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.