Pensionfund DSM Netherlands lowered its holdings in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 18.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,840 shares of the real estate investment trust's stock after selling 4,000 shares during the period. Extra Space Storage comprises about 1.7% of Pensionfund DSM Netherlands' portfolio, making the stock its 19th biggest holding. Pensionfund DSM Netherlands' holdings in Extra Space Storage were worth $2,669,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Graypoint LLC lifted its holdings in shares of Extra Space Storage by 4.3% in the third quarter. Graypoint LLC now owns 1,575 shares of the real estate investment trust's stock worth $284,000 after acquiring an additional 65 shares during the last quarter. Hummer Financial Advisory Services Inc increased its position in Extra Space Storage by 1.2% during the 3rd quarter. Hummer Financial Advisory Services Inc now owns 5,920 shares of the real estate investment trust's stock worth $1,067,000 after purchasing an additional 70 shares in the last quarter. Buckley Wealth Management LLC lifted its stake in Extra Space Storage by 1.9% in the 3rd quarter. Buckley Wealth Management LLC now owns 3,811 shares of the real estate investment trust's stock valued at $687,000 after purchasing an additional 71 shares during the last quarter. Bleakley Financial Group LLC boosted its position in Extra Space Storage by 4.1% in the third quarter. Bleakley Financial Group LLC now owns 1,973 shares of the real estate investment trust's stock valued at $356,000 after buying an additional 77 shares in the last quarter. Finally, Aptus Capital Advisors LLC grew its stake in shares of Extra Space Storage by 5.5% during the third quarter. Aptus Capital Advisors LLC now owns 1,570 shares of the real estate investment trust's stock worth $283,000 after buying an additional 82 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.
Several equities research analysts recently weighed in on the company. 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 report on Thursday, December 5th. Evercore ISI reduced their price target on Extra Space Storage from $170.00 to $168.00 and set an "in-line" rating on the stock in a report on Monday, October 14th. Barclays upped their price objective on Extra Space Storage from $188.00 to $192.00 and gave the company an "overweight" rating in a research note on Monday, October 28th. Jefferies Financial Group upgraded shares of Extra Space Storage from a "hold" rating to a "buy" rating and lifted their target price for the stock from $162.00 to $204.00 in a research report on Wednesday, September 18th. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating and set a $175.00 price target on shares of Extra Space Storage in a research note on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five 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 price target of $173.08.
Check Out Our Latest Research Report on EXR
In related news, Director Diane Olmstead sold 3,081 shares of Extra Space Storage stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $164.56, for a total value of $507,009.36. Following the completion of the transaction, the director now directly owns 5,877 shares in the company, valued at approximately $967,119.12. The trade was a 34.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.36% of the company's stock.
Shares of NYSE EXR traded down $0.47 during midday trading on Monday, reaching $150.57. The company's stock had a trading volume of 71,580 shares, compared to its average volume of 534,276. 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 stock has a market capitalization of $31.92 billion, a P/E ratio of 39.42, a PEG ratio of 8.03 and a beta of 0.91. The firm has a 50 day moving average price of $160.44 and a 200-day moving average price of $165.46. 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 - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.03 by ($1.12). The business had revenue of $824.80 million during the quarter, compared to the consensus estimate of $826.93 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The firm's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.02 EPS. As a group, equities analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $1.62 per share. The ex-dividend date was Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a yield of 4.30%. Extra Space Storage's dividend payout ratio is presently 169.63%.
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.
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