Perpetual Ltd Sells 8,862 Shares of Extra Space Storage Inc. (NYSE:EXR)

Perpetual Ltd decreased its position in Extra Space Storage Inc. (NYSE:EXR) by 78.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,446 shares of the real estate investment trust’s stock after selling 8,862 shares during the quarter. Perpetual Ltd’s holdings in Extra Space Storage were worth $366,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of EXR. Pathway Financial Advisers LLC lifted its position in Extra Space Storage by 17,832.9% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust’s stock worth $363,783,000 after buying an additional 2,007,626 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in 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 buying an additional 1,741,320 shares during the last quarter. Mizuho Securities USA LLC lifted its position in Extra Space Storage by 1,664.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 288,094 shares of the real estate investment trust’s stock worth $51,912,000 after buying an additional 271,765 shares during the last quarter. Hamlin Capital Management LLC lifted its position in Extra Space Storage by 44.8% in the 3rd quarter. Hamlin Capital Management LLC now owns 766,043 shares of the real estate investment trust’s stock worth $138,033,000 after buying an additional 236,908 shares during the last quarter. Finally, State Street Corp lifted its position in Extra Space Storage by 1.7% in the 3rd quarter. State Street Corp now owns 13,390,830 shares of the real estate investment trust’s stock worth $2,412,894,000 after buying an additional 227,006 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Price Performance

EXR opened at $151.54 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. Extra Space Storage Inc. has a 52-week low of $131.02 and a 52-week high of $184.87. The stock has a market capitalization of $32.12 billion, a PE ratio of 39.67, a price-to-earnings-growth ratio of 7.57 and a beta of 0.91. The stock’s 50 day moving average price is $156.45 and its 200-day moving average price is $164.83.

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

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $1.62 dividend. The ex-dividend date was Monday, December 16th. This represents a $6.48 annualized dividend and a yield of 4.28%. Extra Space Storage’s payout ratio is 169.63%.

Insider Buying and Selling

In related news, Director Diane Olmstead sold 3,081 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $164.56, for a total value of $507,009.36. Following the sale, the director now directly owns 5,877 shares of the company’s stock, valued at $967,119.12. This represents a 34.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the sale, the chief executive officer now directly owns 16,690 shares in the company, valued at $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. 1.36% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Wells Fargo & Company restated an “equal weight” rating and issued a $175.00 target price on shares of Extra Space Storage in a research report on Monday, October 21st. Barclays decreased their price target on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Evercore ISI decreased their price target on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a research note on Monday, October 14th. 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 note on Thursday, December 5th. Finally, StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $171.25.

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.