NEOS Investment Management LLC Purchases 2,485 Shares of Extra Space Storage Inc. (NYSE:EXR)

NEOS Investment Management LLC grew its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 29.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,926 shares of the real estate investment trust’s stock after purchasing an additional 2,485 shares during the quarter. NEOS Investment Management LLC’s holdings in Extra Space Storage were worth $1,635,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Tidal Investments LLC raised its stake in shares of Extra Space Storage by 34.4% during the third quarter. Tidal Investments LLC now owns 12,640 shares of the real estate investment trust’s stock worth $2,278,000 after acquiring an additional 3,234 shares in the last quarter. Duff & Phelps Investment Management Co. grew its holdings in shares of Extra Space Storage by 9.5% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 35,503 shares of the real estate investment trust’s stock valued at $6,397,000 after purchasing an additional 3,093 shares during the last quarter. Brown Financial Advisors raised its position in Extra Space Storage by 69.1% in the 3rd quarter. Brown Financial Advisors now owns 9,134 shares of the real estate investment trust’s stock worth $1,646,000 after purchasing an additional 3,731 shares during the period. Manning & Napier Advisors LLC lifted its stake in Extra Space Storage by 1,127.2% in the fourth quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust’s stock worth $116,985,000 after purchasing an additional 718,266 shares during the last quarter. Finally, Vert Asset Management LLC boosted its position in Extra Space Storage by 8.0% during the fourth quarter. Vert Asset Management LLC now owns 93,473 shares of the real estate investment trust’s stock valued at $13,984,000 after buying an additional 6,910 shares during the period. Institutional investors own 99.11% of the company’s stock.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, Director Joseph J. Bonner sold 672 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $149.10, for a total transaction of $100,195.20. Following the completion of the transaction, the director now owns 4,557 shares of the company’s stock, valued at approximately $679,448.70. This trade represents a 12.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction that occurred 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 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. Over the last 90 days, insiders sold 9,392 shares of company stock valued at $1,396,515. 1.36% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

EXR has been the topic of several analyst reports. Scotiabank decreased 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, March 5th. StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Friday, March 7th. Wells Fargo & Company dropped their price objective on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. Royal Bank of Canada decreased their target price on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Finally, Barclays dropped their price target on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a research report on Wednesday, March 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Extra Space Storage presently has an average rating of “Hold” and an average target price of $171.09.

Extra Space Storage Trading Up 0.2 %

NYSE:EXR opened at $145.41 on Friday. The company has a 50-day moving average price of $152.33 and a 200-day moving average price of $160.01. The stock has a market cap of $30.83 billion, a price-to-earnings ratio of 38.07, a P/E/G ratio of 7.76 and a beta of 0.90. 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 12 month low of $131.02 and a 12 month high of $184.87.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, topping the consensus estimate of $1.10 by $0.93. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. Equities 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 disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $1.62 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.46%. Extra Space Storage’s dividend payout ratio (DPR) is 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.