SG Americas Securities LLC Acquires 160,489 Shares of Extra Space Storage Inc. (NYSE:EXR)

SG Americas Securities LLC grew its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 763.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 181,513 shares of the real estate investment trust’s stock after buying an additional 160,489 shares during the period. SG Americas Securities LLC’s holdings in Extra Space Storage were worth $27,154,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. State Street Corp boosted its holdings in shares of Extra Space Storage by 1.7% during the 3rd quarter. State Street Corp now owns 13,390,830 shares of the real estate investment trust’s stock valued at $2,412,894,000 after buying an additional 227,006 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Extra Space Storage by 4.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,366,107 shares of the real estate investment trust’s stock valued at $426,349,000 after buying an additional 111,137 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Extra Space Storage by 10.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,020,459 shares of the real estate investment trust’s stock valued at $364,066,000 after buying an additional 189,949 shares in the last quarter. Pathway Financial Advisers LLC boosted its holdings in shares of Extra Space Storage by 17,832.9% during 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Extra Space Storage by 724.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust’s stock worth $357,100,000 after purchasing an additional 1,741,320 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $175.00 price target on shares of Extra Space Storage in a research report on Monday, October 21st. Barclays lowered their price target on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Scotiabank raised Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price target for the company in a research report on Friday, January 10th. Evercore ISI lowered their price target on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a research report on Monday, October 14th. Finally, Truist Financial lifted their price target on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $171.25.

Extra Space Storage Price Performance

NYSE EXR opened at $150.04 on Thursday. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87. The firm has a market capitalization of $31.80 billion, a P/E ratio of 39.28, a PEG ratio of 7.57 and a beta of 0.91. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The company has a 50-day moving average price of $156.73 and a 200-day moving average price of $164.94.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing the consensus estimate of $2.03 by ($1.12). Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business had revenue of $824.80 million for the quarter, compared to analysts’ expectations of $826.93 million. During the same period in the previous year, the company earned $2.02 EPS. Extra Space Storage’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities research analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend was Monday, December 16th. Extra Space Storage’s payout ratio is currently 169.63%.

Insider Activity

In related news, Director Diane Olmstead sold 3,081 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $164.56, for a total transaction of $507,009.36. Following the completion of the transaction, the director now directly owns 5,877 shares in the company, valued at approximately $967,119.12. The trade was a 34.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total value of $1,110,075.00. Following the transaction, the chief executive officer now owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.36% of the company’s stock.

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.