M&G Plc Purchases Shares of 1,164 Extra Space Storage Inc. (NYSE:EXR)

M&G Plc acquired a new position in shares of Extra Space Storage Inc. (NYSE:EXR) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,164 shares of the real estate investment trust’s stock, valued at approximately $210,000.

Several other hedge funds and other institutional investors have also made changes to their positions in EXR. Pathway Financial Advisers LLC increased its holdings in shares of Extra Space Storage by 17,832.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust’s stock worth $363,783,000 after acquiring an additional 2,007,626 shares during the last quarter. Boston Partners acquired a new position in Extra Space Storage in the 1st quarter valued at about $130,554,000. Janus Henderson Group PLC raised its holdings in Extra Space Storage by 2,244.2% in the 1st quarter. Janus Henderson Group PLC now owns 597,729 shares of the real estate investment trust’s stock valued at $87,824,000 after acquiring an additional 572,231 shares during the period. Canada Pension Plan Investment Board lifted its position in Extra Space Storage by 43.7% during the first quarter. Canada Pension Plan Investment Board now owns 1,557,135 shares of the real estate investment trust’s stock worth $228,899,000 after acquiring an additional 473,559 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of Extra Space Storage by 543.5% in the second quarter. American Century Companies Inc. now owns 397,170 shares of the real estate investment trust’s stock valued at $61,724,000 after purchasing an additional 335,447 shares during the last quarter. 99.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on EXR shares. Truist Financial increased their price objective on Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. KeyCorp increased their price target on Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Royal Bank of Canada began coverage on shares of Extra Space Storage in a report on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 price objective for the company. StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Finally, Raymond James lifted their price objective on Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $171.50.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total value of $1,338,900.00. Following the transaction, the chief executive officer now directly owns 24,190 shares in the company, valued at $4,318,398.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total value of $1,338,900.00. Following the transaction, the chief executive officer now owns 24,190 shares in the company, valued at approximately $4,318,398.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William N. Springer sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total transaction of $350,660.00. Following the completion of the transaction, the executive vice president now directly owns 11,919 shares in the company, valued at approximately $2,089,758.27. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,970 shares of company stock valued at $3,367,307. 1.36% of the stock is owned by corporate insiders.

Extra Space Storage Trading Up 2.2 %

NYSE:EXR opened at $167.70 on Friday. The stock has a market cap of $35.55 billion, a price-to-earnings ratio of 43.90, a price-to-earnings-growth ratio of 6.06 and a beta of 0.87. The business’s 50-day simple moving average is $172.62 and its 200 day simple moving average is $161.43. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.20 and a current ratio of 0.23. Extra Space Storage Inc. has a one year low of $116.23 and a one year high of $184.87.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business had revenue of $824.80 million during the quarter, compared to analyst estimates of $826.93 million. During the same quarter in the prior year, the company earned $2.02 EPS. Extra Space Storage’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, sell-side analysts predict that Extra Space Storage Inc. will post 8.08 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $1.62 dividend. The ex-dividend date was Monday, September 16th. This represents a $6.48 annualized dividend and a dividend yield of 3.86%. Extra Space Storage’s dividend payout ratio (DPR) is currently 169.63%.

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.