NEOS Investment Management LLC Acquires 2,485 Shares of Extra Space Storage Inc. (NYSE:EXR)

NEOS Investment Management LLC raised its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 29.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,926 shares of the real estate investment trust’s stock after purchasing an additional 2,485 shares during the period. NEOS Investment Management LLC’s holdings in Extra Space Storage were worth $1,635,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Extra Space Storage during the third quarter valued at $334,000. Cerity Partners LLC boosted its holdings in shares of 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 acquiring an additional 4,114 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Extra Space Storage by 3.1% in the third 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 during the period. D.A. Davidson & CO. bought a new stake in shares of Extra Space Storage in the third quarter worth approximately $257,000. Finally, Townsquare Capital LLC raised its holdings in shares of Extra Space Storage by 30.9% during the third quarter. Townsquare Capital LLC now owns 8,267 shares of the real estate investment trust’s stock valued at $1,490,000 after purchasing an additional 1,953 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on EXR. Royal Bank of Canada dropped their target price on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Friday, March 7th. Barclays reduced their price objective on Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a research report on Wednesday, March 12th. The Goldman Sachs Group reissued a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Finally, Wells Fargo & Company reduced 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 research report on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $171.09.

Insider Buying and Selling at Extra Space Storage

In related news, EVP William N. Springer sold 1,220 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following the completion of the sale, the executive vice president now owns 20,158 shares in the company, valued at approximately $3,077,320.28. This trade represents a 5.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph J. Bonner sold 672 shares of Extra Space Storage stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $149.10, for a total value of $100,195.20. Following the sale, the director now directly owns 4,557 shares in the company, valued at $679,448.70. This trade represents a 12.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,392 shares of company stock valued at $1,396,515 over the last ninety days. 1.36% of the stock is currently owned by company insiders.

Extra Space Storage Stock Up 0.2 %

EXR stock opened at $145.41 on Friday. The business’s 50-day moving average price is $152.33 and its 200-day moving average price is $160.01. The stock has a market cap of $30.83 billion, a P/E ratio of 38.07, a PEG ratio of 7.76 and a beta of 0.90. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a twelve month low of $131.02 and a twelve month high of $184.87.

Extra Space Storage (NYSE:EXR) last issued 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. The business had revenue of $821.90 million for the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. On average, equities research analysts forecast that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The firm also recently declared 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 payout ratio is presently 160.40%.

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.