South Dakota Investment Council Buys 475 Shares of Extra Space Storage Inc. (NYSE:EXR)

South Dakota Investment Council boosted its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 1.1% during the fourth quarter, Holdings Channel reports. The firm owned 41,984 shares of the real estate investment trust’s stock after acquiring an additional 475 shares during the quarter. South Dakota Investment Council’s holdings in Extra Space Storage were worth $6,731,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of EXR. Zions Bancorporation N.A. grew its holdings in shares of Extra Space Storage by 241.9% during the 3rd quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 150 shares during the period. EverSource Wealth Advisors LLC lifted its position in Extra Space Storage by 162.5% in the 3rd 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 in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in Extra Space Storage in the 3rd quarter valued at approximately $32,000. Anchor Investment Management LLC bought a new position in Extra Space Storage in the 4th quarter valued at approximately $35,000. Finally, Riverview Trust Co bought a new position in Extra Space Storage in the 3rd quarter valued at approximately $38,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft began coverage on Extra Space Storage in a research report on Tuesday, January 30th. They issued a “hold” rating and a $141.00 price objective on the stock. StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, March 2nd. Scotiabank began coverage on Extra Space Storage in a report on Tuesday, February 13th. They set a “sector underperform” rating and a $131.00 price target on the stock. The Goldman Sachs Group increased their price target on Extra Space Storage from $168.00 to $187.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Finally, Wells Fargo & Company upped their price objective on Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $150.17.

Extra Space Storage Price Performance

Extra Space Storage stock traded up $1.74 during midday trading on Wednesday, reaching $135.02. The company had a trading volume of 692,756 shares, compared to its average volume of 1,169,600. The company has a market capitalization of $28.57 billion, a P/E ratio of 27.37, a P/E/G ratio of 3.26 and a beta of 0.74. Extra Space Storage Inc. has a 12-month low of $101.19 and a 12-month high of $164.99. The firm’s fifty day simple moving average is $142.28 and its 200-day simple moving average is $138.03. 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 (NYSE:EXR) last issued its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.01). The company had revenue of $797.77 million during the quarter, compared to analysts’ expectations of $778.05 million. Extra Space Storage had a net margin of 31.81% and a return on equity of 8.34%. The company’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.09 earnings per share. As a group, equities analysts anticipate that Extra Space Storage Inc. will post 8.05 EPS for the current 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 $1.62 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.80%. Extra Space Storage’s payout ratio is 131.17%.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction dated Monday, March 4th. The shares were 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 owns 94,126 shares in the company, valued at approximately $13,785,693.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Extra Space Storage news, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction dated Monday, March 4th. The shares were 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 owns 94,126 shares in the company, valued at approximately $13,785,693.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $145.00, for a total transaction of $195,750.00. Following the sale, the executive vice president now owns 37,028 shares of the company’s stock, valued at approximately $5,369,060. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,532 shares of company stock worth $514,819. Insiders own 1.36% of the company’s stock.

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.