Vert Asset Management LLC Buys 6,910 Shares of Extra Space Storage Inc. (NYSE:EXR)

Vert Asset Management LLC increased its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 8.0% in the 4th quarter, Holdings Channel reports. The firm owned 93,473 shares of the real estate investment trust’s stock after purchasing an additional 6,910 shares during the period. Extra Space Storage accounts for 4.8% of Vert Asset Management LLC’s investment portfolio, making the stock its 7th largest holding. Vert Asset Management LLC’s holdings in Extra Space Storage were worth $13,984,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Extra Space Storage in the third quarter valued at about $33,000. Harvest Fund Management Co. Ltd purchased a new stake in Extra Space Storage during the 3rd quarter valued at about $42,000. Continuum Advisory LLC raised its holdings in Extra Space Storage by 68.1% in the 3rd quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust’s stock valued at $56,000 after acquiring an additional 126 shares during the last quarter. Sunbelt Securities Inc. lifted its stake in Extra Space Storage by 441.2% in the 2nd quarter. Sunbelt Securities Inc. now owns 617 shares of the real estate investment trust’s stock worth $96,000 after purchasing an additional 503 shares in the last quarter. Finally, DiNuzzo Private Wealth Inc. acquired a new position in shares of Extra Space Storage during the 3rd quarter worth approximately $129,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Price Performance

EXR stock opened at $156.04 on Tuesday. The business’s fifty day moving average price is $155.96 and its 200 day moving average price is $164.88. Extra Space Storage Inc. has a 12-month low of $131.02 and a 12-month high of $184.87. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $33.08 billion, a PE ratio of 40.85, a P/E/G ratio of 7.48 and a beta of 0.91.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). The business had revenue of $824.80 million for the quarter, compared to analysts’ expectations of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the company earned $2.02 earnings per share. On average, sell-side analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a dividend of $1.62 per share. The ex-dividend date was Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a yield of 4.15%. Extra Space Storage’s dividend payout ratio (DPR) is presently 169.63%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EXR. Truist Financial boosted their price objective on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Evercore ISI lowered their price target on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a research report on Monday, October 14th. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Barclays decreased their target price on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Finally, Scotiabank upgraded shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price target for the company in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Extra Space Storage has a consensus rating of “Hold” and a consensus target price of $171.25.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the sale, the chief executive officer now owns 16,690 shares of the company’s stock, valued at $2,470,286.90. This trade represents a 31.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Diane Olmstead sold 3,081 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $164.56, for a total value of $507,009.36. Following the transaction, the director now directly owns 5,877 shares of the company’s stock, valued at approximately $967,119.12. This represents a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by corporate insiders.

About Extra Space Storage

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.