Foster & Motley Inc. Sells 2,385 Shares of Extra Space Storage Inc. (NYSE:EXR)

Foster & Motley Inc. cut its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 35.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,350 shares of the real estate investment trust’s stock after selling 2,385 shares during the quarter. Foster & Motley Inc.’s holdings in Extra Space Storage were worth $697,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Extra Space Storage by 55.7% in the 3rd quarter. Vanguard Group Inc. now owns 33,686,341 shares of the real estate investment trust’s stock valued at $4,095,585,000 after acquiring an additional 12,055,172 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Extra Space Storage by 22.1% during the 3rd quarter. Principal Financial Group Inc. now owns 6,505,834 shares of the real estate investment trust’s stock worth $790,975,000 after acquiring an additional 1,178,760 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Extra Space Storage by 599.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,345,787 shares of the real estate investment trust’s stock worth $406,781,000 after acquiring an additional 2,867,657 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Extra Space Storage by 33.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,032,090 shares of the real estate investment trust’s stock valued at $368,642,000 after purchasing an additional 763,493 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Extra Space Storage by 8.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 2,724,293 shares of the real estate investment trust’s stock valued at $436,786,000 after purchasing an additional 211,395 shares during the last quarter. 99.11% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total value of $195,750.00. Following the transaction, the executive vice president now directly owns 37,028 shares in the company, valued at $5,369,060. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Extra Space Storage news, CMO Samrat Sondhi sold 2,048 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $146.46, for a total value of $299,950.08. Following the completion of the sale, the chief marketing officer now owns 94,126 shares of the company’s stock, valued at $13,785,693.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $145.00, for a total value of $195,750.00. Following the completion of the sale, the executive vice president now directly owns 37,028 shares of the company’s stock, valued at approximately $5,369,060. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,532 shares of company stock worth $514,819. Insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Up 0.4 %

NYSE:EXR opened at $133.30 on Wednesday. The firm’s 50 day simple moving average is $142.28 and its 200 day simple moving average is $138.03. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.30 and a quick ratio of 0.30. Extra Space Storage Inc. has a one year low of $101.19 and a one year high of $164.99. The company has a market cap of $28.21 billion, a PE ratio of 26.98, a P/E/G ratio of 3.26 and a beta of 0.74.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.01). Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. The company had revenue of $797.77 million during the quarter, compared to analysts’ expectations of $778.05 million. During the same period last year, the firm posted $2.09 earnings per share. Extra Space Storage’s quarterly revenue was up 57.4% compared to the same quarter last year. On average, research analysts anticipate that Extra Space Storage Inc. will post 8.05 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.86%. The ex-dividend date was Thursday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is 131.17%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EXR. Raymond James restated an “outperform” rating and set a $160.00 target price on shares of Extra Space Storage in a report on Thursday, March 28th. TheStreet upgraded shares of Extra Space Storage from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Wells Fargo & Company upped their price objective on shares of Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Extra Space Storage in a report on Tuesday, January 30th. They issued a “hold” rating and a $141.00 price objective on the stock. Finally, Scotiabank began coverage on shares of Extra Space Storage in a report on Tuesday, February 13th. They issued a “sector underperform” rating and a $131.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $150.17.

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.