Andra AP fonden Boosts Stake in Extra Space Storage Inc. (NYSE:EXR)

Andra AP fonden lifted its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 202.8% during the fourth quarter, Holdings Channel reports. The fund owned 42,700 shares of the real estate investment trust’s stock after purchasing an additional 28,600 shares during the quarter. Andra AP fonden’s holdings in Extra Space Storage were worth $6,388,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of EXR. Golden State Wealth Management LLC purchased a new stake in Extra Space Storage during the 4th quarter worth approximately $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of Extra Space Storage during the third quarter worth approximately $33,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Extra Space Storage in the third quarter worth $42,000. Quent Capital LLC raised its holdings in Extra Space Storage by 89.0% in the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 154 shares in the last quarter. Finally, Asset Planning Inc bought a new position in Extra Space Storage during the 4th quarter valued at $52,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the 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 completion of the transaction, the chief executive officer now owns 16,690 shares in the company, valued at $2,470,286.90. This represents a 31.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP William N. Springer sold 1,220 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following the sale, the executive vice president now 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. 1.36% of the stock is owned by insiders.

Extra Space Storage Stock Performance

Shares of EXR opened at $157.11 on Friday. The firm has a fifty day moving average of $152.91 and a 200-day moving average of $163.02. The company has a market cap of $33.31 billion, a price-to-earnings ratio of 41.13, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90. 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 Inc. has a 1 year low of $131.02 and a 1 year 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.93. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The firm had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. As a group, equities analysts anticipate 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage’s dividend payout ratio is currently 160.40%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Barclays dropped their target price on shares of 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. Wells Fargo & Company cut their price objective on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Friday, February 21st. Royal Bank of Canada decreased their target price on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. Scotiabank dropped their price target on Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Finally, StockNews.com downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Extra Space Storage presently has a consensus rating of “Hold” and a consensus target price of $171.36.

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.