Everence Capital Management Inc. Purchases New Position in Extra Space Storage Inc. (NYSE:EXR)

Everence Capital Management Inc. purchased a new stake in Extra Space Storage Inc. (NYSE:EXR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,150 shares of the real estate investment trust’s stock, valued at approximately $505,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Private Advisor Group LLC increased its stake in Extra Space Storage by 5.6% during the 1st quarter. Private Advisor Group LLC now owns 1,404 shares of the real estate investment trust’s stock worth $289,000 after buying an additional 74 shares in the last quarter. Blair William & Co. IL increased its stake in Extra Space Storage by 16.5% during the 1st quarter. Blair William & Co. IL now owns 1,502 shares of the real estate investment trust’s stock worth $309,000 after buying an additional 213 shares in the last quarter. Prudential PLC purchased a new stake in Extra Space Storage during the 1st quarter worth approximately $625,000. Cetera Investment Advisers increased its stake in Extra Space Storage by 8.2% during the 1st quarter. Cetera Investment Advisers now owns 2,522 shares of the real estate investment trust’s stock worth $519,000 after buying an additional 192 shares in the last quarter. Finally, Dakota Wealth Management purchased a new stake in Extra Space Storage during the 1st quarter worth approximately $332,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on EXR shares. Truist Financial boosted their price objective on Extra Space Storage from $138.00 to $152.00 and gave the stock a “hold” rating in a research note on Thursday, December 28th. TheStreet upgraded Extra Space Storage from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, March 2nd. The Goldman Sachs Group boosted their target price on Extra Space Storage from $168.00 to $187.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Finally, Barclays started coverage on Extra Space Storage in a report on Wednesday, March 27th. They set an “overweight” rating and a $157.00 target price on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $150.17.

Insider Transactions at Extra Space Storage

In related news, 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 transaction, the chief marketing officer now owns 94,126 shares of the company’s stock, valued at $13,785,693.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related 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 transaction, the executive vice president now owns 37,028 shares of the company’s stock, valued at $5,369,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Samrat Sondhi sold 2,048 shares of the firm’s stock in a transaction dated 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 approximately $13,785,693.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,532 shares of company stock valued at $514,819. 1.36% of the stock is currently owned by company insiders.

Extra Space Storage Stock Up 0.2 %

NYSE:EXR opened at $136.10 on Thursday. Extra Space Storage Inc. has a 52 week low of $101.19 and a 52 week high of $164.99. The stock’s fifty day moving average is $142.98 and its two-hundred day moving average is $137.45. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $28.80 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 3.34 and a beta of 0.74.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share 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 analysts’ expectations of $778.05 million. During the same period in the prior year, the company posted $2.09 EPS. The firm’s revenue was up 57.4% compared to the same quarter last year. Research analysts anticipate that Extra Space Storage Inc. will post 8.05 EPS for the current year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date of this dividend was Thursday, March 14th. Extra Space Storage’s dividend payout ratio is currently 131.17%.

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.