abrdn plc Acquires 135,497 Shares of Extra Space Storage Inc. (NYSE:EXR)

abrdn plc grew its holdings in Extra Space Storage Inc. (NYSE:EXR) by 141.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 231,409 shares of the real estate investment trust’s stock after purchasing an additional 135,497 shares during the quarter. abrdn plc’s holdings in Extra Space Storage were worth $37,102,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Extra Space Storage by 17.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,087 shares of the real estate investment trust’s stock worth $18,933,000 after buying an additional 17,163 shares during the last quarter. NewEdge Wealth LLC acquired a new stake in shares of Extra Space Storage in the third quarter worth $341,000. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Extra Space Storage by 110.8% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,914 shares of the real estate investment trust’s stock worth $1,448,000 after buying an additional 6,262 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Extra Space Storage by 8.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 2,724,293 shares of the real estate investment trust’s stock worth $436,786,000 after buying an additional 211,395 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake 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 worth $4,095,585,000 after buying an additional 12,055,172 shares during the last quarter. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Stock Up 0.2 %

EXR opened at $132.74 on Tuesday. The firm’s 50-day simple moving average is $142.39 and its 200-day simple moving average is $137.93. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.30 and a current ratio of 0.30. Extra Space Storage Inc. has a twelve month low of $101.19 and a twelve month high of $164.99. The firm has a market cap of $28.09 billion, a price-to-earnings ratio of 26.87, a PEG ratio of 3.25 and a beta of 0.74.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.01). Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. The company had revenue of $797.77 million for the quarter, compared to the consensus estimate of $778.05 million. During the same period in the prior year, the company earned $2.09 EPS. The firm’s revenue was up 57.4% compared to the same quarter last year. Equities research analysts anticipate that Extra Space Storage Inc. will post 8.05 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date of this dividend was Thursday, March 14th. Extra Space Storage’s dividend payout ratio is currently 131.17%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

EXR has been the subject of a number of analyst reports. Scotiabank initiated coverage on shares of Extra Space Storage in a research note on Tuesday, February 13th. They issued a “sector underperform” rating and a $131.00 price objective for the company. The Goldman Sachs Group upped their target price on shares of Extra Space Storage from $168.00 to $187.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Barclays initiated 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. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Saturday, March 2nd. Finally, Wells Fargo & Company upped their target price on shares of Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Two 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $150.17.

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.