Acas LLC Sells 9,744 Shares of Extra Space Storage Inc. (NYSE:EXR)

Acas LLC lessened its holdings in Extra Space Storage Inc. (NYSE:EXR) by 58.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,908 shares of the real estate investment trust’s stock after selling 9,744 shares during the period. Extra Space Storage comprises 1.3% of Acas LLC’s holdings, making the stock its 25th biggest holding. Acas LLC’s holdings in Extra Space Storage were worth $1,108,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Whittier Trust Co. grew its holdings in shares of Extra Space Storage by 4.5% during the fourth quarter. Whittier Trust Co. now owns 1,656 shares of the real estate investment trust’s stock worth $266,000 after purchasing an additional 72 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Extra Space Storage by 30.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 515 shares of the real estate investment trust’s stock worth $83,000 after acquiring an additional 119 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Extra Space Storage by 162.5% in the third quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 143 shares during the period. Zions Bancorporation N.A. lifted its stake in shares of Extra Space Storage by 241.9% in the third quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 150 shares during the period. Finally, Marshall Financial Group LLC lifted its stake in shares of Extra Space Storage by 3.1% in the third quarter. Marshall Financial Group LLC now owns 5,132 shares of the real estate investment trust’s stock worth $624,000 after acquiring an additional 154 shares during the period. Institutional investors own 99.11% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of research firms recently commented on EXR. Truist Financial lifted their price objective on Extra Space Storage from $138.00 to $152.00 and gave the stock a “hold” rating in a research note on Thursday, December 28th. Wells Fargo & Company lifted their price objective on Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. The Goldman Sachs Group boosted their price target on Extra Space Storage from $168.00 to $187.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Barclays began coverage on Extra Space Storage in a research note on Wednesday, March 27th. They issued an “overweight” rating and a $157.00 price target on the stock. Finally, Scotiabank began coverage on Extra Space Storage in a research note on Tuesday, February 13th. They issued a “sector underperform” rating and a $131.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Extra Space Storage currently has a consensus rating of “Hold” and a consensus price target of $150.17.

Extra Space Storage Stock Performance

NYSE:EXR traded down $1.70 during trading on Thursday, reaching $132.94. The company’s stock had a trading volume of 126,834 shares, compared to its average volume of 1,162,146. The firm has a market cap of $28.13 billion, a price-to-earnings ratio of 27.26, a price-to-earnings-growth ratio of 3.27 and a beta of 0.74. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a 50 day moving average of $142.19 and a 200-day moving average of $138.01. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $164.99.

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

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.87%. Extra Space Storage’s dividend payout ratio is presently 131.17%.

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.