Fisher Asset Management LLC Acquires 308 Shares of Extra Space Storage Inc. (NYSE:EXR)

Fisher Asset Management LLC increased its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 0.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,231 shares of the real estate investment trust’s stock after acquiring an additional 308 shares during the quarter. Fisher Asset Management LLC’s holdings in Extra Space Storage were worth $10,673,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA grew its position in Extra Space Storage by 4.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,549,231 shares of the real estate investment trust’s stock worth $551,586,000 after purchasing an additional 157,763 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Extra Space Storage by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,127,012 shares of the real estate investment trust’s stock valued at $485,973,000 after acquiring an additional 45,717 shares during the period. Diamond Hill Capital Management Inc. raised its holdings in Extra Space Storage by 7.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,965,638 shares of the real estate investment trust’s stock valued at $460,890,000 after acquiring an additional 198,888 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Extra Space Storage by 4.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,366,107 shares of the real estate investment trust’s stock worth $426,349,000 after acquiring an additional 111,137 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Extra Space Storage by 10.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,020,459 shares of the real estate investment trust’s stock worth $364,066,000 after purchasing an additional 189,949 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Kenneth M. Woolley sold 6,647 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $177.23, for a total value of $1,178,047.81. Following the transaction, the director now owns 404,306 shares in the company, valued at $71,655,152.38. This trade represents a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total value of $1,338,900.00. Following the completion of the sale, the chief executive officer now owns 24,190 shares of the company’s stock, valued at approximately $4,318,398.80. The trade was a 23.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,228 shares of company stock valued at $3,023,957. 1.36% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

EXR has been the subject of a number of recent research reports. Bank of America lowered Extra Space Storage from a “neutral” rating to an “underperform” rating and cut their target price for the company from $172.00 to $155.00 in a research note on Monday, August 5th. KeyCorp raised their price objective on shares of Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Scotiabank lowered their target price on shares of Extra Space Storage from $169.00 to $167.00 and set a “sector underperform” rating on the stock in a research note on Monday. Wells Fargo & Company reissued an “equal weight” rating and issued a $175.00 price target on shares of Extra Space Storage in a research report on Monday, October 21st. Finally, Royal Bank of Canada began coverage on Extra Space Storage in a report on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Extra Space Storage presently has a consensus rating of “Hold” and a consensus price target of $171.36.

Extra Space Storage Price Performance

Shares of EXR stock opened at $172.68 on Thursday. Extra Space Storage Inc. has a 52 week low of $125.82 and a 52 week high of $184.87. The stock has a market capitalization of $36.60 billion, a PE ratio of 45.20, a PEG ratio of 8.58 and a beta of 0.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The stock’s fifty day moving average is $169.97 and its 200-day moving average is $164.09.

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 the consensus estimate of $2.03 by ($1.12). The company had revenue of $824.80 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the company earned $2.02 EPS. Equities research analysts expect that Extra Space Storage Inc. will post 8.09 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.75%. The ex-dividend date is Monday, December 16th. Extra Space Storage’s dividend payout ratio (DPR) is presently 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.