Extra Space Storage Inc. (NYSE:EXR) Shares Acquired by Metis Global Partners LLC

Metis Global Partners LLC increased its holdings in Extra Space Storage Inc. (NYSE:EXR) by 5.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 31,402 shares of the real estate investment trust’s stock after purchasing an additional 1,554 shares during the quarter. Metis Global Partners LLC’s holdings in Extra Space Storage were worth $4,698,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in EXR. Assenagon Asset Management S.A. grew its holdings in Extra Space Storage by 34.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,985 shares of the real estate investment trust’s stock valued at $718,000 after buying an additional 1,028 shares during the last quarter. First Trust Direct Indexing L.P. boosted its stake in shares of Extra Space Storage by 20.4% during the third quarter. First Trust Direct Indexing L.P. now owns 6,142 shares of the real estate investment trust’s stock valued at $1,107,000 after acquiring an additional 1,040 shares during the last quarter. HM Payson & Co. increased its position in Extra Space Storage by 948.0% during the 3rd quarter. HM Payson & Co. now owns 1,572 shares of the real estate investment trust’s stock worth $283,000 after purchasing an additional 1,422 shares in the last quarter. US Bancorp DE raised its stake in Extra Space Storage by 2.0% in the 3rd quarter. US Bancorp DE now owns 27,929 shares of the real estate investment trust’s stock valued at $5,033,000 after purchasing an additional 552 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in Extra Space Storage by 39.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,277 shares of the real estate investment trust’s stock valued at $230,000 after purchasing an additional 362 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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. Insiders own 1.36% of the company’s stock.

Extra Space Storage Price Performance

Shares of Extra Space Storage stock opened at $152.36 on Friday. The business’s fifty day moving average price is $152.27 and its 200 day moving average price is $163.45. Extra Space Storage Inc. has a twelve month low of $131.02 and a twelve month high of $184.87. 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 has a market capitalization of $32.30 billion, a P/E ratio of 39.88, a PEG ratio of 7.76 and a beta of 0.91.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.93. The business had revenue of $821.90 million for the quarter, compared to analyst estimates 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 anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.25%. The ex-dividend date is Friday, March 14th. Extra Space Storage’s payout ratio is currently 160.40%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Scotiabank upgraded shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price target for the company in a report on Friday, January 10th. Barclays decreased their target price on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Wells Fargo & Company cut their price target on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a report on Friday, February 21st. Royal Bank of Canada decreased their price objective on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a report on Thursday. Finally, StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $171.55.

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.