Blair William & Co. IL Increases Stake in Extra Space Storage Inc (NYSE:EXR)

Blair William & Co. IL boosted its position in shares of Extra Space Storage Inc (NYSE:EXR) by 4.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 2,693 shares of the real estate investment trust’s stock after purchasing an additional 105 shares during the quarter. Blair William & Co. IL’s holdings in Extra Space Storage were worth $400,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Cohen & Steers Inc. grew its position in Extra Space Storage by 5.9% during the 4th quarter. Cohen & Steers Inc. now owns 9,246,133 shares of the real estate investment trust’s stock valued at $1,383,094,000 after purchasing an additional 516,941 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Extra Space Storage by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,136,640 shares of the real estate investment trust’s stock valued at $469,229,000 after purchasing an additional 24,533 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Extra Space Storage by 0.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,077,577 shares of the real estate investment trust’s stock valued at $456,989,000 after purchasing an additional 12,607 shares during the last quarter. Northern Trust Corp grew its position in Extra Space Storage by 48.7% during the 4th quarter. Northern Trust Corp now owns 2,875,049 shares of the real estate investment trust’s stock valued at $430,107,000 after purchasing an additional 941,212 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Extra Space Storage by 8.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,143,047 shares of the real estate investment trust’s stock valued at $320,600,000 after purchasing an additional 161,248 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $150.35, for a total value of $1,127,625.00. Following the completion of the transaction, the chief executive officer directly owned 27,260 shares of the company’s stock, valued at approximately $4,098,541. This trade represents a 21.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.36% of the stock is currently owned by insiders.

Extra Space Storage Price Performance

Shares of NYSE:EXR opened at $135.17 on Tuesday. Extra Space Storage Inc has a twelve month low of $121.03 and a twelve month high of $184.87. The stock has a market capitalization of $28.69 billion, a PE ratio of 29.32, a price-to-earnings-growth ratio of 3.31 and a beta of 1.07. The firm’s 50 day moving average price is $147.34 and its 200-day moving average price is $147.72. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.88.

Extra Space Storage (NYSE:EXR) last released its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.01). Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%. The firm had revenue of $841.62 million for the quarter, compared to the consensus estimate of $719.43 million. During the same quarter in the previous year, the business posted $2.06 EPS. Extra Space Storage’s revenue was up 3.8% on a year-over-year basis. Equities research analysts expect that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a dividend of $1.62 per share. The ex-dividend date was Monday, June 16th. This represents a $6.48 annualized dividend and a dividend yield of 4.8%. Extra Space Storage’s dividend payout ratio (DPR) is presently 140.56%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Barclays dropped their price target on shares of Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday. Wells Fargo & Company dropped their price target on shares of Extra Space Storage from $165.00 to $160.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 23rd. Wall Street Zen raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a report on Wednesday, April 30th. Bank of America raised their price target on shares of Extra Space Storage from $155.00 to $161.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. Finally, Scotiabank raised their price target on shares of Extra Space Storage from $149.00 to $166.00 and gave the company a “sector outperform” rating in a report on Monday, May 12th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Extra Space Storage has an average rating of “Hold” and a consensus target price of $155.85.

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.