International Assets Investment Management LLC Makes New Investment in Extra Space Storage Inc. (NYSE:EXR)

International Assets Investment Management LLC acquired a new position in shares of Extra Space Storage Inc. (NYSE:EXR) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 155,039 shares of the real estate investment trust’s stock, valued at approximately $24,857,000. International Assets Investment Management LLC owned about 0.07% of Extra Space Storage at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. NewEdge Wealth LLC acquired a new stake in shares of Extra Space Storage during the 3rd quarter worth about $341,000. Vanguard Personalized Indexing Management LLC increased its position in shares of Extra Space Storage by 110.8% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,914 shares of the real estate investment trust’s stock worth $1,448,000 after purchasing an additional 6,262 shares during the last quarter. Pallas Capital Advisors LLC acquired a new stake in shares of Extra Space Storage during the 4th quarter worth about $1,287,000. Vert Asset Management LLC increased its position in shares of Extra Space Storage by 15.7% during the 4th quarter. Vert Asset Management LLC now owns 85,522 shares of the real estate investment trust’s stock worth $13,712,000 after purchasing an additional 11,612 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Extra Space Storage by 55.7% during the 3rd quarter. Vanguard Group Inc. now owns 33,686,341 shares of the real estate investment trust’s stock worth $4,095,585,000 after purchasing an additional 12,055,172 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Stock Performance

Shares of EXR opened at $142.50 on Thursday. The stock has a 50-day simple moving average of $143.39 and a 200-day simple moving average of $136.84. 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 stock has a market capitalization of $30.16 billion, a PE ratio of 28.85, a PEG ratio of 3.66 and a beta of 0.74. Extra Space Storage Inc. has a 1 year low of $101.19 and a 1 year high of $165.85.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.01). The business had revenue of $797.77 million during the quarter, compared to analyst estimates of $778.05 million. Extra Space Storage had a net margin of 31.81% and a return on equity of 8.34%. The business’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same period last year, the company earned $2.09 earnings per share. On average, analysts predict that Extra Space Storage Inc. will post 8.05 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.55%. The ex-dividend date of this dividend was Thursday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is presently 131.17%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EXR. Wells Fargo & Company raised their price objective on Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Scotiabank initiated coverage on Extra Space Storage in a research report on Tuesday, February 13th. They issued a “sector underperform” rating and a $131.00 target price for the company. TheStreet raised Extra Space Storage from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Morgan Stanley raised Extra Space Storage from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $115.00 to $150.00 in a research report on Thursday, December 21st. Finally, StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. Two equities research 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $150.17.

Insider Transactions at Extra Space Storage

In other news, CMO Samrat Sondhi sold 2,048 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $146.46, for a total transaction of $299,950.08. Following the completion of the sale, the chief marketing officer now owns 94,126 shares in the company, valued at $13,785,693.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the stock in a transaction 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 transaction, the executive vice president now owns 37,028 shares in the company, valued at $5,369,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 owns 94,126 shares of the company’s stock, valued at approximately $13,785,693.96. The disclosure for this sale can be found here. Insiders sold 3,532 shares of company stock worth $514,819 over the last 90 days. 1.55% of the stock is currently owned by insiders.

About Extra Space Storage

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.