Yousif Capital Management LLC trimmed its stake in Extra Space Storage Inc. (NYSE:EXR – Get Rating) by 19.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,925 shares of the real estate investment trust’s stock after selling 5,866 shares during the quarter. Yousif Capital Management LLC’s holdings in Extra Space Storage were worth $3,521,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Parkside Financial Bank & Trust raised its holdings in shares of Extra Space Storage by 80.0% in the third quarter. Parkside Financial Bank & Trust now owns 144 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 64 shares during the last quarter. EdgeRock Capital LLC purchased a new position in Extra Space Storage during the third quarter worth about $27,000. Ronald Blue Trust Inc. acquired a new stake in Extra Space Storage in the 2nd quarter worth about $35,000. SJS Investment Consulting Inc. purchased a new stake in Extra Space Storage in the 3rd quarter valued at about $35,000. Finally, Ten Capital Wealth Advisors LLC acquired a new position in shares of Extra Space Storage during the 3rd quarter valued at about $36,000. 95.32% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
EXR has been the subject of a number of recent analyst reports. Raymond James upgraded shares of Extra Space Storage from a “market perform” rating to an “outperform” rating and set a $170.00 target price for the company in a report on Monday, January 9th. Citigroup cut their price target on shares of Extra Space Storage from $175.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday, December 12th. Morgan Stanley cut their price target on shares of Extra Space Storage from $153.00 to $145.00 and set an “underweight” rating on the stock in a research note on Wednesday, December 14th. Truist Financial increased their price target on shares of Extra Space Storage from $160.00 to $165.00 and gave the stock a “hold” rating in a research note on Wednesday, March 8th. Finally, Wolfe Research downgraded shares of Extra Space Storage from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 18th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $170.89.
Extra Space Storage Price Performance
Extra Space Storage (NYSE:EXR – Get Rating) last announced its earnings results on Wednesday, February 22nd. The real estate investment trust reported $1.52 earnings per share for the quarter, missing the consensus estimate of $2.08 by ($0.56). The firm had revenue of $506.70 million during the quarter, compared to analysts’ expectations of $433.39 million. Extra Space Storage had a net margin of 45.52% and a return on equity of 22.01%. Extra Space Storage’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.91 earnings per share. As a group, analysts predict that Extra Space Storage Inc. will post 8.52 EPS for the current year.
Extra Space Storage Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be paid a $1.62 dividend. The ex-dividend date is Tuesday, March 14th. This is an increase from Extra Space Storage’s previous quarterly dividend of $1.50. This represents a $6.48 annualized dividend and a dividend yield of 4.04%. Extra Space Storage’s dividend payout ratio is 101.09%.
Insider Activity
In other news, CMO Samrat Sondhi sold 6,290 shares of the company’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $161.88, for a total value of $1,018,225.20. Following the completion of the transaction, the chief marketing officer now directly owns 82,653 shares in the company, valued at $13,379,867.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CMO Samrat Sondhi sold 6,290 shares of the company’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $161.88, for a total value of $1,018,225.20. Following the completion of the transaction, the chief marketing officer now directly owns 82,653 shares in the company, valued at $13,379,867.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Matthew T. Herrington sold 650 shares of the company’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $165.75, for a total transaction of $107,737.50. Following the completion of the sale, the chief operating officer now directly owns 6,405 shares in the company, valued at $1,061,628.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,440 shares of company stock worth $1,371,963. 1.52% of the stock is currently owned by company insiders.
Extra Space Storage Profile
Extra Space Storage, Inc is a real estate investment trust. It operates through the following segments: Self-Storage Operations and Tenant Reinsurance. The Self-Storage Operations segment includes rental operations of wholly-owned stores. The Tenant Reinsurance segment includes reinsurance of risks relating to the loss of goods stored by tenants in stores.
Read More
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