Russell Investments Group Ltd. Raises Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Russell Investments Group Ltd. increased its stake in Extra Space Storage Inc. (NYSE:EXR) by 21.6% in the fourth quarter, Holdings Channel reports. The firm owned 813,310 shares of the real estate investment trust’s stock after purchasing an additional 144,546 shares during the period. Russell Investments Group Ltd.’s holdings in Extra Space Storage were worth $130,525,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Extra Space Storage by 17.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,087 shares of the real estate investment trust’s stock valued at $18,933,000 after purchasing an additional 17,163 shares during the period. NewEdge Wealth LLC purchased a new stake in Extra Space Storage in the 3rd quarter worth $341,000. Vanguard Personalized Indexing Management LLC increased its holdings in Extra Space Storage by 110.8% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,914 shares of the real estate investment trust’s stock worth $1,448,000 after acquiring an additional 6,262 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Extra Space Storage by 8.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,724,293 shares of the real estate investment trust’s stock worth $436,786,000 after acquiring an additional 211,395 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Extra Space Storage by 55.7% in the 3rd quarter. Vanguard Group Inc. now owns 33,686,341 shares of the real estate investment trust’s stock worth $4,095,585,000 after acquiring an additional 12,055,172 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Trading Down 0.3 %

NYSE EXR traded down $0.36 during trading hours on Friday, reaching $133.47. The company had a trading volume of 716,541 shares, compared to its average volume of 1,021,555. The stock has a 50-day moving average of $141.87 and a 200 day moving average of $138.07. Extra Space Storage Inc. has a 1-year low of $101.19 and a 1-year high of $164.99. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.71. The stock 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.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.01). Extra Space Storage had a net margin of 31.81% and a return on equity of 8.34%. The company had revenue of $797.77 million during the quarter, compared to analyst estimates of $778.05 million. During the same period in the previous year, the company earned $2.09 EPS. The company’s quarterly revenue was up 57.4% compared to the same quarter last year. As a group, research analysts anticipate that Extra Space Storage Inc. will post 8.05 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given 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 4.86%. Extra Space Storage’s payout ratio is currently 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 that occurred on Monday, March 4th. The shares were sold at an average price of $146.46, for a total value of $299,950.08. Following the transaction, the chief marketing officer now directly owns 94,126 shares in the company, valued at $13,785,693.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the transaction, the executive vice president now directly owns 37,028 shares in the company, valued at $5,369,060. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CMO Samrat Sondhi sold 2,048 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $146.46, for a total transaction of $299,950.08. Following the transaction, the chief marketing officer now owns 94,126 shares in the company, valued at $13,785,693.96. The disclosure for this sale can be found here. Insiders have sold 3,532 shares of company stock worth $514,819 over the last three months. Insiders own 1.36% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, March 2nd. The Goldman Sachs Group boosted their price target on shares of Extra Space Storage from $168.00 to $187.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Barclays began coverage on shares of Extra Space Storage in a report on Wednesday, March 27th. They set an “overweight” rating and a $157.00 target price for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Extra Space Storage in a report on Tuesday, January 30th. They set a “hold” rating and a $141.00 target price for the company. Finally, TheStreet raised shares of Extra Space Storage from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. 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.com, the stock has an average rating of “Hold” and an average price target of $150.17.

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.