Schroder Investment Management Group Purchases 9,699 Shares of Extra Space Storage Inc. (NYSE:EXR)

Schroder Investment Management Group grew its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 21.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,887 shares of the real estate investment trust’s stock after acquiring an additional 9,699 shares during the period. Schroder Investment Management Group’s holdings in Extra Space Storage were worth $8,229,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Golden State Wealth Management LLC acquired a new stake in Extra Space Storage during the fourth quarter worth approximately $25,000. Harbour Investments Inc. boosted its holdings in shares of Extra Space Storage by 90.9% during the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 80 shares in the last quarter. Quent Capital LLC grew its position in shares of Extra Space Storage by 89.0% during the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 154 shares during the period. Asset Planning Inc bought a new stake in shares of Extra Space Storage in the 4th quarter valued at $52,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Extra Space Storage in the 4th quarter valued at $54,000. 99.11% of the stock is owned by institutional investors.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, EVP William N. Springer sold 1,220 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $152.66, for a total transaction of $186,245.20. Following the completion of the transaction, the executive vice president now owns 20,158 shares in the company, valued at $3,077,320.28. This trade represents a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the sale, the chief executive officer now owns 9,190 shares in the company, valued at $1,355,065.50. The trade was a 44.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,392 shares of company stock worth $1,392,315 over the last ninety days. 1.36% of the stock is currently owned by company insiders.

Extra Space Storage Price Performance

EXR opened at $138.05 on Friday. Extra Space Storage Inc. has a 1 year low of $131.02 and a 1 year high of $184.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The company has a market capitalization of $29.27 billion, a price-to-earnings ratio of 36.14, a P/E/G ratio of 7.76 and a beta of 0.90. The firm’s fifty day moving average price is $151.74 and its two-hundred day moving average price is $159.02.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.93. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. As a group, analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date was Friday, March 14th. Extra Space Storage’s dividend payout ratio is currently 160.40%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Wells Fargo & Company cut their price objective on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. Royal Bank of Canada decreased their target price on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday, March 7th. Finally, Scotiabank decreased their price objective on Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating for the company in a report on Wednesday, March 5th. 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $171.09.

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.