Ranger Global Real Estate Advisors LLC Raises Holdings in Extra Space Storage Inc. (NYSE:EXR)

Ranger Global Real Estate Advisors LLC increased its position in Extra Space Storage Inc. (NYSE:EXRFree Report) by 59,342.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 297,210 shares of the real estate investment trust’s stock after purchasing an additional 296,710 shares during the period. Extra Space Storage comprises about 5.5% of Ranger Global Real Estate Advisors LLC’s investment portfolio, making the stock its 5th biggest holding. Ranger Global Real Estate Advisors LLC owned 0.14% of Extra Space Storage worth $36,135,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors boosted its stake in Extra Space Storage by 29.7% in the 2nd quarter. Capital World Investors now owns 17,876,089 shares of the real estate investment trust’s stock worth $2,660,805,000 after purchasing an additional 4,096,408 shares during the period. State Street Corp boosted its stake in shares of Extra Space Storage by 0.3% during the 2nd quarter. State Street Corp now owns 9,421,581 shares of the real estate investment trust’s stock valued at $1,402,402,000 after buying an additional 23,698 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Extra Space Storage by 22.1% during the 3rd quarter. Principal Financial Group Inc. now owns 6,505,834 shares of the real estate investment trust’s stock valued at $790,975,000 after buying an additional 1,178,760 shares during the period. Cohen & Steers Inc. boosted its stake in shares of Extra Space Storage by 23.2% during the 2nd quarter. Cohen & Steers Inc. now owns 5,599,950 shares of the real estate investment trust’s stock valued at $833,528,000 after buying an additional 1,054,442 shares during the period. Finally, Capital International Investors boosted its stake in shares of Extra Space Storage by 98.7% during the 2nd quarter. Capital International Investors now owns 4,216,200 shares of the real estate investment trust’s stock valued at $627,581,000 after buying an additional 2,094,409 shares during the period. Institutional investors and hedge funds own 66.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of Extra Space Storage from $168.00 to $187.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Wednesday, February 21st. TheStreet raised shares of Extra Space Storage from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Stifel Nicolaus reduced their price objective on shares of Extra Space Storage from $185.00 to $165.00 and set a “buy” rating for the company in a research note on Wednesday, November 8th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Extra Space Storage in a research note on Tuesday, January 30th. They issued a “hold” rating and a $141.00 price objective for the company. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Extra Space Storage has a consensus rating of “Hold” and an average target price of $149.75.

Get Our Latest Report on EXR

Insider Activity

In other news, Director Joseph Saffire sold 10,000 shares of Extra Space Storage stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $139.32, for a total transaction of $1,393,200.00. Following the sale, the director now directly owns 82,344 shares in the company, valued at approximately $11,472,166.08. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.55% of the stock is owned by company insiders.

Extra Space Storage Stock Performance

Shares of NYSE:EXR traded down $1.93 on Wednesday, hitting $138.29. 2,505,740 shares of the company were exchanged, compared to its average volume of 1,188,852. The company’s 50 day moving average price is $149.08 and its two-hundred day moving average price is $133.18. Extra Space Storage Inc. has a one year low of $101.19 and a one year high of $170.30. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.50 and a current ratio of 0.50. The firm has a market capitalization of $29.22 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 3.44 and a beta of 0.75.

Extra Space Storage (NYSE:EXRGet Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($1.01). Extra Space Storage had a return on equity of 11.64% and a net margin of 35.54%. The company had revenue of $797.77 million for the quarter, compared to the consensus estimate of $778.05 million. During the same quarter in the previous year, the firm posted $2.09 EPS. The business’s revenue for the quarter was up 57.4% compared to the same quarter last year. Research analysts expect that Extra Space Storage Inc. will post 8.13 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be given a dividend of $1.62 per share. The ex-dividend date is Thursday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.69%. Extra Space Storage’s dividend payout ratio (DPR) is currently 119.12%.

Extra Space Storage Company Profile

(Free Report)

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 September 30, 2023, the Company owned and/or operated 3,651 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.5 million units and approximately 279.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.

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Institutional Ownership by Quarter for Extra Space Storage (NYSE:EXR)

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