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

UniSuper Management Pty Ltd increased its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 6.4% in the 4th quarter, HoldingsChannel reports. The fund owned 78,625 shares of the real estate investment trust’s stock after acquiring an additional 4,729 shares during the period. UniSuper Management Pty Ltd’s holdings in Extra Space Storage were worth $11,762,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Elo Mutual Pension Insurance Co grew its holdings in Extra Space Storage by 14.2% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 21,351 shares of the real estate investment trust’s stock worth $3,194,000 after purchasing an additional 2,661 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Extra Space Storage by 10.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 482,162 shares of the real estate investment trust’s stock worth $72,826,000 after purchasing an additional 44,382 shares in the last quarter. Korea Investment CORP grew its stake in Extra Space Storage by 4.4% during the 4th quarter. Korea Investment CORP now owns 121,796 shares of the real estate investment trust’s stock worth $18,221,000 after buying an additional 5,098 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in Extra Space Storage by 5.7% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,370 shares of the real estate investment trust’s stock valued at $803,000 after buying an additional 290 shares in the last quarter. Finally, Prestige Wealth Management Group LLC raised its stake in Extra Space Storage by 10.3% in the fourth quarter. Prestige Wealth Management Group LLC now owns 3,020 shares of the real estate investment trust’s stock valued at $452,000 after buying an additional 283 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Performance

NYSE EXR opened at $145.32 on Friday. Extra Space Storage Inc. has a fifty-two week low of $131.02 and a fifty-two 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 PEG ratio of 7.76 and a beta of 0.90. The stock has a 50-day simple moving average of $152.44 and a two-hundred day simple moving average of $160.33.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.93. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company had revenue of $821.90 million during the quarter, compared to analysts’ expectations of $707.34 million. On average, equities analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date is Friday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is presently 160.40%.

Analyst Ratings Changes

EXR has been the topic of a number of research analyst reports. Truist Financial boosted their price target on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Barclays cut their price target on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 12th. StockNews.com downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Friday, March 7th. Royal Bank of Canada cut their target price on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Finally, Wells Fargo & Company lowered their price target on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research report on Friday, February 21st. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $171.09.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, EVP William N. Springer sold 1,220 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following the transaction, the executive vice president now owns 20,158 shares in the company, valued at approximately $3,077,320.28. This represents a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were 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. The trade was a 31.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,392 shares of company stock worth $1,396,515. 1.36% of the stock is owned by company insiders.

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.