Russell Investments Group Ltd. Acquires 144,546 Shares of Extra Space Storage Inc. (NYSE:EXR)

Russell Investments Group Ltd. boosted its holdings in Extra Space Storage Inc. (NYSE:EXR) by 21.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 813,310 shares of the real estate investment trust’s stock after purchasing an additional 144,546 shares during the quarter. Russell Investments Group Ltd. owned about 0.38% of Extra Space Storage worth $130,525,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Zions Bancorporation N.A. increased its holdings in Extra Space Storage by 241.9% in the third quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 150 shares in the last quarter. Anchor Investment Management LLC bought a new stake in shares of Extra Space Storage during the fourth quarter valued at approximately $35,000. EverSource Wealth Advisors LLC increased its holdings in shares of Extra Space Storage by 162.5% during the third quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 143 shares in the last quarter. Bruce G. Allen Investments LLC bought a new stake in shares of Extra Space Storage during the fourth quarter valued at approximately $41,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Extra Space Storage during the third quarter valued at approximately $32,000. 99.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on EXR shares. Scotiabank started coverage on Extra Space Storage in a report on Tuesday, February 13th. They set a “sector underperform” rating and a $131.00 price objective for the company. TheStreet upgraded Extra Space Storage from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Deutsche Bank Aktiengesellschaft assumed coverage on Extra Space Storage in a report on Tuesday, January 30th. They set a “hold” rating and a $141.00 price target for the company. The Goldman Sachs Group upped their price target on Extra Space Storage from $168.00 to $187.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Finally, StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, March 2nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $150.17.

Extra Space Storage Price Performance

Shares of Extra Space Storage stock traded down $0.36 during trading on Friday, hitting $133.47. 716,541 shares of the stock traded hands, compared to its average volume of 1,021,555. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.71. The stock has a market cap of $28.24 billion, a price-to-earnings ratio of 27.04, a PEG ratio of 3.29 and a beta of 0.74. The firm’s fifty day moving average is $141.87 and its 200-day moving average is $138.07. Extra Space Storage Inc. has a 52 week low of $101.19 and a 52 week high of $164.99.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.02 EPS for the quarter, missing the consensus estimate of $2.03 by ($1.01). The firm had revenue of $797.77 million for the quarter, compared to the consensus estimate of $778.05 million. Extra Space Storage had a net margin of 31.81% and a return on equity of 8.34%. Extra Space Storage’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.09 earnings per share. Research analysts expect that Extra Space Storage Inc. will post 8.05 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.86%. The ex-dividend date was Thursday, March 14th. Extra Space Storage’s dividend payout ratio is presently 131.17%.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $146.46, for a total value of $299,950.08. Following the completion of the sale, the chief marketing officer now owns 94,126 shares in the company, valued at approximately $13,785,693.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $145.00, for a total value of $195,750.00. Following the completion of the sale, the executive vice president now owns 37,028 shares in the company, valued at approximately $5,369,060. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CMO Samrat Sondhi sold 2,048 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $146.46, for a total value of $299,950.08. Following the completion of the transaction, the chief marketing officer now owns 94,126 shares of the company’s stock, valued at approximately $13,785,693.96. The disclosure for this sale can be found here. Insiders sold 3,532 shares of company stock worth $514,819 in the last ninety days. 1.36% of the stock is owned by company insiders.

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.