Los Angeles Capital Management LLC Sells 2,379 Shares of Extra Space Storage Inc. (NYSE:EXR)

Los Angeles Capital Management LLC trimmed its position in Extra Space Storage Inc. (NYSE:EXR) by 11.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,030 shares of the real estate investment trust’s stock after selling 2,379 shares during the period. Los Angeles Capital Management LLC’s holdings in Extra Space Storage were worth $2,891,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Zions Bancorporation N.A. increased its stake in Extra Space Storage by 241.9% in 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 acquired a new position in shares of Extra Space Storage in the 4th quarter valued at $35,000. EverSource Wealth Advisors LLC increased its position in shares of Extra Space Storage by 162.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 143 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in Extra Space Storage during the 4th quarter worth $41,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Extra Space Storage during the 3rd quarter worth $32,000. Institutional investors own 99.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on EXR. Wells Fargo & Company boosted their target price on Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Barclays began coverage on 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. The Goldman Sachs Group lifted their price target 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. StockNews.com downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. Finally, TheStreet upgraded shares of Extra Space Storage from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $149.67.

Insider Buying and Selling at Extra Space Storage

In other news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the business’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 directly owns 37,028 shares in the company, valued at approximately $5,369,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm’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 of the company’s stock, valued at $5,369,060. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Samrat Sondhi sold 2,048 shares of the business’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 value of $299,950.08. Following the transaction, the chief marketing officer now directly owns 94,126 shares in the company, valued at $13,785,693.96. The disclosure for this sale can be found here. Insiders sold a total of 3,532 shares of company stock worth $514,819 over the last quarter. 1.36% of the stock is currently owned by insiders.

Extra Space Storage Stock Up 0.6 %

Shares of EXR stock opened at $142.69 on Tuesday. The firm’s fifty day moving average price is $141.63 and its two-hundred day moving average price is $139.21. The company has a current ratio of 0.15, a quick ratio of 0.30 and a debt-to-equity ratio of 0.73. Extra Space Storage Inc. has a 1 year low of $101.19 and a 1 year high of $164.99. The firm has a market capitalization of $30.20 billion, a P/E ratio of 31.78, a PEG ratio of 3.48 and a beta of 0.76.

Extra Space Storage (NYSE:EXR) last released its 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). Extra Space Storage had a net margin of 29.10% and a return on equity of 6.76%. The company had revenue of $797.77 million during the quarter, compared to analyst estimates of $778.05 million. During the same period in the prior year, the firm posted $2.09 EPS. Extra Space Storage’s revenue was up 57.4% compared to the same quarter last year. On average, equities analysts predict that Extra Space Storage Inc. will post 8.05 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend was Thursday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is currently 144.32%.

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.