Los Angeles Capital Management LLC Decreases Holdings in Extra Space Storage Inc. (NYSE:EXR)

Los Angeles Capital Management LLC lowered its position in Extra Space Storage Inc. (NYSE:EXR) by 11.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,030 shares of the real estate investment trust’s stock after selling 2,379 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Extra Space Storage were worth $2,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Zions Bancorporation N.A. boosted its stake in shares of Extra Space Storage by 241.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 150 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Extra Space Storage by 162.5% in 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 during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Extra Space Storage in the third quarter worth $32,000. Anchor Investment Management LLC purchased a new stake in Extra Space Storage during the fourth quarter valued at about $35,000. Finally, Bruce G. Allen Investments LLC bought a new position in shares of Extra Space Storage during the fourth quarter valued at about $41,000. 99.11% of the stock is currently owned by institutional investors.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction 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 completion of the transaction, the chief marketing officer now owns 94,126 shares in the company, valued at $13,785,693.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CMO Samrat Sondhi sold 2,048 shares of Extra Space Storage stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $146.46, for a total transaction of $299,950.08. Following the completion of the transaction, the chief marketing officer now directly owns 94,126 shares of the company’s stock, valued at approximately $13,785,693.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the sale, the executive vice president now owns 37,028 shares in the company, valued at approximately $5,369,060. The disclosure for this sale can be found here. Insiders have sold 3,532 shares of company stock worth $514,819 over the last ninety days. 1.36% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on EXR shares. Wells Fargo & Company boosted their target price on Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Scotiabank started coverage on Extra Space Storage in a research report on Tuesday, February 13th. They issued a “sector underperform” rating and a $131.00 price objective for the company. The Goldman Sachs Group raised their target price 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. Raymond James reiterated an “outperform” rating and set a $160.00 price target on shares of Extra Space Storage in a report on Thursday, March 28th. Finally, TheStreet raised shares of Extra Space Storage from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Extra Space Storage has an average rating of “Hold” and a consensus price target of $149.67.

Extra Space Storage Stock Up 0.6 %

Shares of NYSE EXR opened at $142.69 on Tuesday. The firm has a fifty day simple moving average of $141.63 and a two-hundred day simple moving average of $139.21. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $164.99. The company has a current ratio of 0.15, a quick ratio of 0.30 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $30.20 billion, a PE ratio of 31.78, a price-to-earnings-growth ratio of 3.48 and a beta of 0.76.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($1.01). Extra Space Storage had a net margin of 29.10% and a return on equity of 6.76%. The company had revenue of $797.77 million for the quarter, compared to analysts’ expectations of $778.05 million. During the same quarter in the prior year, the firm earned $2.09 EPS. Extra Space Storage’s quarterly 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 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 $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date was Thursday, March 14th. Extra Space Storage’s payout ratio is presently 144.32%.

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.