BI Asset Management Fondsmaeglerselskab A S Purchases 3,410 Shares of Extra Space Storage Inc. (NYSE:EXR)

BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 63.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,778 shares of the real estate investment trust’s stock after acquiring an additional 3,410 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Extra Space Storage were worth $1,313,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new position in Extra Space Storage during the 4th quarter worth about $25,000. Harbour Investments Inc. boosted its stake in shares of Extra Space Storage by 90.9% during the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 80 shares in the last quarter. Quent Capital LLC increased its holdings in Extra Space Storage by 89.0% during the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 154 shares during the period. Asset Planning Inc bought a new position in Extra Space Storage in the fourth quarter worth approximately $52,000. Finally, Kestra Investment Management LLC purchased a new stake in Extra Space Storage during the fourth quarter worth $54,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Buying and Selling

In other Extra Space Storage news, Director Joseph J. Bonner sold 672 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $149.10, for a total value of $100,195.20. Following the sale, the director now owns 4,557 shares in the company, valued at approximately $679,448.70. This represents a 12.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the transaction, the chief executive officer now directly owns 9,190 shares of the company’s stock, valued at approximately $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 90 days. Insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Performance

Shares of EXR stock opened at $141.95 on Wednesday. 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 business has a fifty day moving average of $146.31 and a 200 day moving average of $154.82. The firm has a market capitalization of $30.13 billion, a price-to-earnings ratio of 37.16, a price-to-earnings-growth ratio of 7.76 and a beta of 0.96. Extra Space Storage Inc. has a 1 year low of $121.03 and a 1 year high of $184.87.

Extra Space Storage (NYSE:EXR) last released its earnings results 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. The firm had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. As a group, research analysts expect 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 was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $1.62 dividend. The ex-dividend date was Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.56%. Extra Space Storage’s payout ratio is currently 160.40%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wells Fargo & Company reduced their price target on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research report on Friday, February 21st. Mizuho initiated coverage on shares of Extra Space Storage in a report on Wednesday, April 9th. They issued an “outperform” rating and a $141.00 target price for the company. Barclays lowered their price target on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. Royal Bank of Canada reduced their price objective on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Finally, StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $167.25.

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.