Extra Space Storage Inc. (NYSE:EXR) Holdings Lowered by Davis Selected Advisers

Davis Selected Advisers decreased its position in Extra Space Storage Inc. (NYSE:EXR) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,085 shares of the real estate investment trust’s stock after selling 410 shares during the quarter. Davis Selected Advisers’ holdings in Extra Space Storage were worth $9,138,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Golden State Wealth Management LLC acquired a new stake in shares of Extra Space Storage in the fourth quarter worth $25,000. Ashton Thomas Securities LLC bought a new position in shares of Extra Space Storage in the 3rd quarter valued at approximately $33,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Extra Space Storage in the third quarter worth $42,000. Quent Capital LLC lifted its position in 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 acquiring an additional 154 shares during the last quarter. Finally, Asset Planning Inc bought a new stake in Extra Space Storage during the 4th quarter valued at approximately $52,000. 99.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP William N. Springer sold 1,220 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $152.66, for a total value of $186,245.20. Following the sale, the executive vice president now directly owns 20,158 shares of the company’s stock, 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 SEC, which is available through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction dated 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 directly owns 16,690 shares in the company, valued at approximately $2,470,286.90. This 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.

Analyst Ratings Changes

Several analysts have recently weighed in on EXR shares. Truist Financial lifted their price objective on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday. Royal Bank of Canada cut their price target on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Scotiabank reduced their price objective on Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating on the stock in a report on Wednesday. Finally, Wells Fargo & Company cut their target price 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. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $171.36.

Extra Space Storage Trading Up 1.3 %

Shares of EXR stock opened at $157.11 on Friday. The stock has a market cap of $33.31 billion, a price-to-earnings ratio of 41.13, a PEG ratio of 7.76 and a beta of 0.90. The stock has a 50-day moving average of $152.91 and a 200-day moving average of $163.07. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 1-year low of $131.02 and a 1-year high of $184.87.

Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.93. The company had revenue of $821.90 million for the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. On average, equities research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.12%. Extra Space Storage’s dividend payout ratio (DPR) is presently 160.40%.

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.