Extra Space Storage Inc. (NYSE:EXR) Position Increased by PGGM Investments

PGGM Investments increased its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 10.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,332,057 shares of the real estate investment trust’s stock after buying an additional 125,397 shares during the period. Extra Space Storage comprises about 3.3% of PGGM Investments’ portfolio, making the stock its 4th biggest position. PGGM Investments owned 0.63% of Extra Space Storage worth $213,569,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Zions Bancorporation N.A. increased its stake 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 valued at $26,000 after purchasing an additional 150 shares during the last quarter. Anchor Investment Management LLC acquired a new stake in shares of Extra Space Storage in the fourth quarter valued at approximately $35,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Extra Space Storage by 162.5% in 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 during the period. Bruce G. Allen Investments LLC acquired a new stake in shares of Extra Space Storage during the fourth quarter worth $41,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Extra Space Storage during the third quarter worth $32,000. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Extra Space Storage news, CMO Samrat Sondhi sold 2,048 shares of Extra Space Storage stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $146.46, for a total transaction of $299,950.08. Following the sale, the chief marketing officer now directly owns 94,126 shares in the company, valued at approximately $13,785,693.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CMO Samrat Sondhi sold 2,048 shares of the business’s 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 directly owns 94,126 shares in the company, valued at approximately $13,785,693.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were 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 of the company’s stock, valued at $5,369,060. The disclosure for this sale can be found here. Insiders have sold 3,532 shares of company stock worth $514,819 in the last three months. 1.36% of the stock is owned by insiders.

Extra Space Storage Stock Down 0.3 %

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

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results 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 company had revenue of $797.77 million for the quarter, compared to analyst estimates of $778.05 million. Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. The business’s revenue was up 57.4% on a year-over-year basis. During the same period last year, the firm posted $2.09 earnings per share. On average, research analysts predict that Extra Space Storage Inc. will post 8.05 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on EXR shares. Raymond James reaffirmed an “outperform” rating and set a $160.00 price target on shares of Extra Space Storage in a report on Thursday, March 28th. Scotiabank initiated coverage on Extra Space Storage in a report on Tuesday, February 13th. They issued a “sector underperform” rating and a $131.00 price target for the company. TheStreet upgraded Extra Space Storage from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Saturday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Extra Space Storage in a research note on Tuesday, January 30th. They issued a “hold” rating and a $141.00 price objective on the stock. Two 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’s stock. According to MarketBeat.com, Extra Space Storage has an average rating of “Hold” and an average price target of $150.17.

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.