Dynamic Technology Lab Private Ltd Takes Position in Extra Space Storage Inc. (NYSE:EXR)

Dynamic Technology Lab Private Ltd bought a new position in shares of Extra Space Storage Inc. (NYSE:EXRFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,398 shares of the real estate investment trust’s stock, valued at approximately $224,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Extra Space Storage by 55.7% in the third 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 buying an additional 12,055,172 shares during the last quarter. Norges Bank bought a new position in Extra Space Storage during the fourth quarter worth $1,022,811,000. JPMorgan Chase & Co. increased its holdings in shares of Extra Space Storage by 599.8% in the third quarter. JPMorgan Chase & Co. now owns 3,345,787 shares of the real estate investment trust’s stock valued at $406,781,000 after purchasing an additional 2,867,657 shares during the last quarter. First Eagle Investment Management LLC raised its position in shares of Extra Space Storage by 233,362.8% in the third quarter. First Eagle Investment Management LLC now owns 1,323,734 shares of the real estate investment trust’s stock valued at $160,940,000 after purchasing an additional 1,323,167 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Extra Space Storage by 59.3% during the 3rd quarter. Northern Trust Corp now owns 2,724,282 shares of the real estate investment trust’s stock worth $331,218,000 after buying an additional 1,014,041 shares during the last quarter. 99.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on EXR shares. StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Saturday, March 2nd. Wells Fargo & Company raised their price target on shares of Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Extra Space Storage in a research report on Tuesday, January 30th. They set a “hold” rating and a $141.00 target price on the stock. Scotiabank assumed coverage on shares of Extra Space Storage in a research report on Tuesday, February 13th. They issued a “sector underperform” rating and a $131.00 price target for the company. Finally, Barclays boosted 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. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $149.75.

Get Our Latest Stock Report on Extra Space Storage

Extra Space Storage Stock Down 0.2 %

Shares of NYSE EXR opened at $142.36 on Wednesday. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.73. The company has a market cap of $30.14 billion, a price-to-earnings ratio of 31.71, a PEG ratio of 3.42 and a beta of 0.76. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $164.99. The stock has a 50-day moving average price of $142.46 and a two-hundred day moving average price of $143.53.

Extra Space Storage (NYSE:EXRGet Free Report) last issued 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). The business had revenue of $797.77 million for the quarter, compared to analyst estimates of $778.05 million. Extra Space Storage had a return on equity of 6.76% and a net margin of 29.10%. The firm’s revenue was up 57.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.09 EPS. As a group, analysts forecast that Extra Space Storage Inc. will post 8.05 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.55%. The ex-dividend date is Friday, June 14th. Extra Space Storage’s payout ratio is 144.32%.

Insiders Place Their Bets

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the business’s 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 completion of the transaction, the executive vice president now owns 37,028 shares of the company’s stock, valued at $5,369,060. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CMO Samrat Sondhi sold 2,048 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $146.46, for a total transaction of $299,950.08. Following the sale, the chief marketing officer now directly owns 94,126 shares in the company, valued at $13,785,693.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $145.00, for a total value of $195,750.00. Following the sale, the executive vice president now owns 37,028 shares in the company, valued at $5,369,060. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,532 shares of company stock valued at $514,819. 1.36% of the stock is currently owned by corporate insiders.

Extra Space Storage Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Extra Space Storage (NYSE:EXR)

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