Federated Hermes Inc. Has $387,000 Holdings in Extra Space Storage Inc. (NYSE:EXR)

Federated Hermes Inc. increased its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 54.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,416 shares of the real estate investment trust’s stock after acquiring an additional 847 shares during the quarter. Federated Hermes Inc.’s holdings in Extra Space Storage were worth $387,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Zions Bancorporation N.A. grew its position in Extra Space Storage by 241.9% during the third quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 150 shares in the last quarter. Anchor Investment Management LLC purchased a new position in Extra Space Storage during the fourth quarter valued at approximately $35,000. EverSource Wealth Advisors LLC grew its position in Extra Space Storage by 162.5% during the third quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 143 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new position in Extra Space Storage during the fourth quarter valued at approximately $41,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in Extra Space Storage during the third quarter valued at approximately $32,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Stock Performance

EXR opened at $141.87 on Friday. Extra Space Storage Inc. has a 52-week low of $101.19 and a 52-week high of $164.99. The firm has a market capitalization of $30.02 billion, a PE ratio of 31.60, a PEG ratio of 3.43 and a beta of 0.76. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.30 and a current ratio of 0.15. The business’s 50-day simple moving average is $141.56 and its 200 day simple moving average is $138.84.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 EPS for the quarter, missing the consensus estimate of $2.03 by ($1.01). Extra Space Storage had a net margin of 29.10% and a return on equity of 6.76%. The firm had revenue of $797.77 million during the quarter, compared to analyst estimates of $778.05 million. During the same period in the previous year, the company posted $2.09 EPS. Extra Space Storage’s revenue for the quarter was up 57.4% compared to the same quarter last year. As a group, sell-side analysts expect that Extra Space Storage Inc. will post 8.05 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.57%. The ex-dividend date was Thursday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is currently 144.32%.

Insider Activity at Extra Space Storage

In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the business’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 in the company, valued at $5,369,060. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction 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 transaction, the chief marketing officer now directly owns 94,126 shares in the company, valued at approximately $13,785,693.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 37,028 shares of the company’s stock, valued at $5,369,060. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,532 shares of company stock worth $514,819. Company insiders own 1.36% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of Extra Space Storage from $168.00 to $187.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. TheStreet upgraded Extra Space Storage from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Wells Fargo & Company raised their price objective on shares of Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Barclays began coverage on shares of Extra Space Storage in a research note on Wednesday, March 27th. They set an “overweight” rating and a $157.00 target price for the company. Finally, Raymond James restated an “outperform” rating and issued a $160.00 price target on shares of Extra Space Storage in a research report on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $149.67.

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.