Extra Space Storage Inc. (NYSE:EXR) Shares Bought by PGGM Investments

PGGM Investments lifted its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 10.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,332,057 shares of the real estate investment trust’s stock after purchasing an additional 125,397 shares during the quarter. Extra Space Storage accounts for about 3.3% of PGGM Investments’ investment portfolio, making the stock its 4th biggest holding. PGGM Investments’ holdings in Extra Space Storage were worth $213,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the company. Russell Investments Group Ltd. boosted its position in shares of Extra Space Storage by 21.6% during the fourth quarter. Russell Investments Group Ltd. now owns 813,310 shares of the real estate investment trust’s stock worth $130,525,000 after buying an additional 144,546 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Extra Space Storage by 19.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 706 shares of the real estate investment trust’s stock worth $113,000 after buying an additional 113 shares during the period. Supplemental Annuity Collective Trust of NJ acquired a new position in shares of Extra Space Storage during the fourth quarter worth about $216,000. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Extra Space Storage by 2.9% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,050 shares of the real estate investment trust’s stock worth $810,000 after buying an additional 142 shares during the period. Finally, Atria Wealth Solutions Inc. boosted its position in shares of Extra Space Storage by 177.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 7,775 shares of the real estate investment trust’s stock worth $1,247,000 after buying an additional 4,968 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

EXR has been the topic of several analyst reports. StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, March 2nd. The Goldman Sachs Group upped their target price on Extra Space Storage from $168.00 to $187.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. TheStreet upgraded Extra Space Storage from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Wells Fargo & Company upped their target price on Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Finally, Scotiabank initiated coverage on Extra Space Storage in a report on Tuesday, February 13th. They set a “sector underperform” rating and a $131.00 target price on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $150.17.

Insider Transactions at Extra Space Storage

In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the 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 $5,369,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the 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 $5,369,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Samrat Sondhi sold 2,048 shares of the 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 sale, the chief marketing officer now directly owns 94,126 shares in the company, valued at approximately $13,785,693.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,532 shares of company stock worth $514,819. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Performance

NYSE:EXR traded down $0.36 on Friday, hitting $133.47. The company’s stock had a trading volume of 716,541 shares, compared to its average volume of 1,021,555. The firm has a market capitalization of $28.24 billion, a P/E ratio of 27.04, a price-to-earnings-growth ratio of 3.29 and a beta of 0.74. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.71. Extra Space Storage Inc. has a one year low of $101.19 and a one year high of $164.99. The stock has a fifty day moving average of $141.87 and a two-hundred day moving average of $138.07.

Extra Space Storage (NYSE:EXR) last announced its 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 firm had revenue of $797.77 million for the quarter, compared to the consensus estimate of $778.05 million. Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. Extra Space Storage’s revenue for the quarter was up 57.4% on a year-over-year basis. During the same quarter last year, the business posted $2.09 EPS. Research analysts predict that Extra Space Storage Inc. will post 8.05 earnings per share for the current year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.86%. Extra Space Storage’s dividend payout ratio (DPR) is currently 131.17%.

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.