UniSuper Management Pty Ltd Buys 4,729 Shares of Extra Space Storage Inc. (NYSE:EXR)

UniSuper Management Pty Ltd increased its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 6.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 78,625 shares of the real estate investment trust’s stock after acquiring an additional 4,729 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Extra Space Storage were worth $11,762,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Extra Space Storage during the third quarter valued at about $334,000. Cerity Partners LLC grew its holdings in Extra Space Storage by 39.9% during the 3rd quarter. Cerity Partners LLC now owns 14,426 shares of the real estate investment trust’s stock valued at $2,599,000 after buying an additional 4,114 shares in the last quarter. Fisher Asset Management LLC increased its stake in Extra Space Storage by 0.5% in the 3rd quarter. Fisher Asset Management LLC now owns 59,231 shares of the real estate investment trust’s stock worth $10,673,000 after acquiring an additional 308 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Extra Space Storage in the 3rd quarter worth approximately $42,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Extra Space Storage by 3.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 147,115 shares of the real estate investment trust’s stock worth $26,509,000 after acquiring an additional 4,358 shares in the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, Director Joseph J. Bonner sold 672 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $149.10, for a total value of $100,195.20. Following the completion of the sale, the director now directly owns 4,557 shares in the company, valued at approximately $679,448.70. This represents a 12.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the 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 transaction, the chief executive officer now directly owns 16,690 shares in the company, valued at $2,470,286.90. The trade was a 31.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,392 shares of company stock valued at $1,396,515. 1.36% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

EXR has been the topic of several research reports. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Truist Financial boosted their target price on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Wells Fargo & Company lowered their price target on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a report on Friday, February 21st. The Goldman Sachs Group reissued a “buy” rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Finally, 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 research report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $171.09.

Extra Space Storage Price Performance

Shares of EXR stock opened at $145.32 on Friday. The stock has a 50 day moving average price of $152.44 and a 200 day moving average price of $160.33. Extra Space Storage Inc. has a 52-week low of $131.02 and a 52-week high of $184.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The firm has a market capitalization of $30.81 billion, a P/E ratio of 38.04, a P/E/G ratio of 7.76 and a beta of 0.90.

Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.93. The business had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. As a group, sell-side analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid 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 is currently 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.