Landscape Capital Management L.L.C. Takes $3.74 Million Position in Extra Space Storage Inc. (NYSE:EXR)

Landscape Capital Management L.L.C. bought a new position in Extra Space Storage Inc. (NYSE:EXR) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 20,764 shares of the real estate investment trust’s stock, valued at approximately $3,741,000.

A number of other institutional investors have also recently bought and sold shares of EXR. Pathway Financial Advisers LLC raised its stake in shares of Extra Space Storage by 17,832.9% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust’s stock valued at $363,783,000 after buying an additional 2,007,626 shares in the last quarter. Boston Partners bought a new stake in Extra Space Storage in the first quarter valued at about $130,554,000. Janus Henderson Group PLC raised its position in Extra Space Storage by 2,244.2% in the first quarter. Janus Henderson Group PLC now owns 597,729 shares of the real estate investment trust’s stock worth $87,824,000 after purchasing an additional 572,231 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Extra Space Storage by 43.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,557,135 shares of the real estate investment trust’s stock worth $228,899,000 after purchasing an additional 473,559 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Extra Space Storage by 543.5% during the second quarter. American Century Companies Inc. now owns 397,170 shares of the real estate investment trust’s stock worth $61,724,000 after purchasing an additional 335,447 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EXR. Barclays increased their target price on Extra Space Storage from $188.00 to $192.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Evercore ISI cut their price objective on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a report on Monday, October 14th. Wells Fargo & Company restated an “equal weight” rating and issued a $175.00 target price on shares of Extra Space Storage in a research note on Monday, October 21st. KeyCorp increased their target price on shares of Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Finally, Jefferies Financial Group raised shares of Extra Space Storage from a “hold” rating to a “buy” rating and lifted their price target for the company from $162.00 to $204.00 in a report on Wednesday, September 18th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $171.50.

Extra Space Storage Price Performance

NYSE:EXR opened at $165.04 on Thursday. Extra Space Storage Inc. has a 52-week low of $125.32 and a 52-week high of $184.87. The company has a market cap of $34.99 billion, a P/E ratio of 43.20, a P/E/G ratio of 8.34 and a beta of 0.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The stock’s 50-day simple moving average is $171.06 and its 200 day simple moving average is $163.16.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). The company had revenue of $824.80 million for the quarter, compared to the consensus estimate of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.02 EPS. As a group, sell-side analysts forecast that Extra Space Storage Inc. will post 8.09 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend is Monday, December 16th. Extra Space Storage’s dividend payout ratio (DPR) is presently 169.63%.

Insiders Place Their Bets

In related news, EVP William N. Springer sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total transaction of $350,660.00. Following the transaction, the executive vice president now directly owns 11,919 shares of the company’s stock, valued at approximately $2,089,758.27. This trade represents a 14.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gwyn Goodson Mcneal sold 2,823 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $177.01, for a total transaction of $499,699.23. Following the transaction, the executive vice president now directly owns 32,855 shares in the company, valued at $5,815,663.55. This represents a 7.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,051 shares of company stock valued at $3,874,316 over the last 90 days. 1.36% of the stock is currently owned by insiders.

Extra Space Storage Company 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.