Extra Space Storage Inc. (NYSE:EXR) Shares Acquired by Plato Investment Management Ltd

Plato Investment Management Ltd grew its stake in Extra Space Storage Inc. (NYSE:EXR) by 110.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,182 shares of the real estate investment trust’s stock after purchasing an additional 620 shares during the period. Plato Investment Management Ltd’s holdings in Extra Space Storage were worth $174,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Beacon Capital Management LLC increased its holdings in shares of Extra Space Storage by 69.3% in the first quarter. Beacon Capital Management LLC now owns 828 shares of the real estate investment trust’s stock valued at $122,000 after purchasing an additional 339 shares during the period. Tidal Investments LLC boosted its stake in shares of Extra Space Storage by 262.5% in the first quarter. Tidal Investments LLC now owns 12,967 shares of the real estate investment trust’s stock valued at $1,906,000 after buying an additional 9,390 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Extra Space Storage by 1.3% in the first quarter. California State Teachers Retirement System now owns 342,652 shares of the real estate investment trust’s stock valued at $50,370,000 after buying an additional 4,396 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Extra Space Storage by 2,244.2% in the first quarter. Janus Henderson Group PLC now owns 597,729 shares of the real estate investment trust’s stock valued at $87,824,000 after buying an additional 572,231 shares in the last quarter. Finally, BROOKFIELD Corp ON boosted its stake in shares of Extra Space Storage by 37.3% in the first quarter. BROOKFIELD Corp ON now owns 289,968 shares of the real estate investment trust’s stock valued at $42,625,000 after buying an additional 78,823 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analysts Set New Price Targets

EXR has been the topic of a number of analyst reports. Raymond James lifted their price target on Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. StockNews.com upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Citigroup decreased their price target on Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, June 7th. Barclays lifted their price target on Extra Space Storage from $157.00 to $158.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Finally, Evercore ISI boosted their target price on Extra Space Storage from $140.00 to $151.00 and gave the stock an “in-line” rating in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $157.67.

Extra Space Storage Price Performance

Shares of NYSE EXR traded up $0.24 during trading on Thursday, reaching $159.86. The company had a trading volume of 1,257,721 shares, compared to its average volume of 1,079,939. Extra Space Storage Inc. has a twelve month low of $101.19 and a twelve month high of $171.46. The stock has a market capitalization of $33.85 billion, a PE ratio of 35.63, a price-to-earnings-growth ratio of 3.44 and a beta of 0.83. The stock has a 50-day moving average price of $155.26 and a two-hundred day moving average price of $147.47. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.73.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.00 by ($1.12). Extra Space Storage had a return on equity of 5.40% and a net margin of 25.82%. The company had revenue of $810.66 million during the quarter, compared to analyst estimates of $815.52 million. During the same period last year, the firm earned $2.06 earnings per share. The business’s revenue was up 58.5% compared to the same quarter last year. As a group, sell-side analysts predict that Extra Space Storage Inc. will post 8.04 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $1.62 dividend. The ex-dividend date was Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.05%. Extra Space Storage’s dividend payout ratio (DPR) is 144.32%.

Insider Transactions at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $152.58, for a total value of $1,144,350.00. Following the completion of the transaction, the chief executive officer now directly owns 31,690 shares in the company, valued at $4,835,260.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Joseph J. Bonner sold 677 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $148.22, for a total value of $100,344.94. Following the completion of the transaction, the director now directly owns 5,229 shares in the company, valued at $775,042.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $152.58, for a total value of $1,144,350.00. Following the completion of the transaction, the chief executive officer now owns 31,690 shares of the company’s stock, valued at $4,835,260.20. The disclosure for this sale can be found here. Insiders own 1.36% of the company’s stock.

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.