Ieq Capital LLC Purchases 3,576 Shares of Extra Space Storage Inc. (NYSE:EXR)

Ieq Capital LLC increased its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 59.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,622 shares of the real estate investment trust’s stock after buying an additional 3,576 shares during the quarter. Ieq Capital LLC’s holdings in Extra Space Storage were worth $1,439,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp raised its position in shares of Extra Space Storage by 1.7% during the third quarter. State Street Corp now owns 13,390,830 shares of the real estate investment trust’s stock worth $2,412,894,000 after purchasing an additional 227,006 shares during the period. Charles Schwab Investment Management Inc. increased its stake in 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 purchasing an additional 111,137 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Extra Space Storage by 10.4% during the third quarter. Daiwa Securities Group Inc. now owns 2,020,459 shares of the real estate investment trust’s stock worth $364,066,000 after buying an additional 189,949 shares during the last quarter. Pathway Financial Advisers LLC lifted its stake in shares of Extra Space Storage by 17,832.9% in the third 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 grew its holdings in shares of Extra Space Storage by 724.1% during the third 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 valued at $357,100,000 after buying an additional 1,741,320 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Trading Up 2.0 %

Shares of Extra Space Storage stock opened at $159.14 on Tuesday. The stock has a fifty day moving average price of $151.61 and a 200-day moving average price of $163.74. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The firm has a market cap of $33.73 billion, a PE ratio of 41.66, a P/E/G ratio of 7.76 and a beta of 0.91. Extra Space Storage Inc. has a 1 year low of $131.02 and a 1 year high of $184.87.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage’s dividend payout ratio is 169.63%.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm’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 transaction of $1,110,075.00. Following the completion of the sale, the chief executive officer now owns 16,690 shares in the company, valued at $2,470,286.90. This trade represents a 31.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on EXR shares. Wells Fargo & Company lowered 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 report on Friday. Scotiabank raised Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective for the company in a research note on Friday, January 10th. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. 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. Finally, Truist Financial raised their price objective on Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Extra Space Storage currently has an average rating of “Hold” and a consensus price target of $173.09.

Extra Space Storage Company 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.