abrdn plc Boosts Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

abrdn plc increased its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 141.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 231,409 shares of the real estate investment trust’s stock after purchasing an additional 135,497 shares during the period. abrdn plc owned approximately 0.11% of Extra Space Storage worth $37,102,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Zions Bancorporation N.A. raised its holdings in Extra Space Storage by 241.9% during the third quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 150 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Extra Space Storage by 162.5% during the third quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 143 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Extra Space Storage during the third quarter worth about $32,000. Anchor Investment Management LLC purchased a new position in Extra Space Storage during the fourth quarter worth about $35,000. Finally, Riverview Trust Co purchased a new position in Extra Space Storage during the third quarter worth about $38,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CMO Samrat Sondhi sold 2,048 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $146.46, for a total transaction of $299,950.08. Following the sale, the chief marketing officer now owns 94,126 shares in the company, valued at $13,785,693.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction of $299,950.08. Following the transaction, the chief marketing officer now owns 94,126 shares of the company’s stock, valued at $13,785,693.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 transaction, the executive vice president now directly owns 37,028 shares in the company, valued at approximately $5,369,060. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,532 shares of company stock worth $514,819. 1.36% of the stock is owned by insiders.

Extra Space Storage Stock Up 0.2 %

EXR stock opened at $132.74 on Tuesday. The company’s 50 day simple moving average is $142.39 and its 200-day simple moving average is $137.93. The firm has a market capitalization of $28.09 billion, a PE ratio of 26.87, a P/E/G ratio of 3.25 and a beta of 0.74. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $164.99. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.30 and a quick ratio of 0.30.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.01). Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. The firm had revenue of $797.77 million for the quarter, compared to analyst estimates of $778.05 million. During the same quarter last year, the business posted $2.09 EPS. The firm’s revenue was up 57.4% compared to the same quarter last year. Equities analysts expect that Extra Space Storage Inc. will post 8.05 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given 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 yield of 4.88%. Extra Space Storage’s dividend payout ratio (DPR) is currently 131.17%.

Analyst Ratings Changes

A number of brokerages have issued reports on EXR. Barclays began coverage on shares of Extra Space Storage in a report on Wednesday, March 27th. They issued an “overweight” rating and a $157.00 target price for the company. Raymond James reaffirmed an “outperform” rating and issued a $160.00 target price on shares of Extra Space Storage in a report on Thursday, March 28th. Truist Financial increased their target price on shares of Extra Space Storage from $138.00 to $152.00 and gave the company a “hold” rating in a report on Thursday, December 28th. TheStreet raised shares of Extra Space Storage from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Extra Space Storage in a report on Tuesday, January 30th. They issued a “hold” rating and a $141.00 target price for the company. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Extra Space Storage has an average rating of “Hold” and an average target price of $150.17.

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.