Clearbridge Investments LLC boosted its position in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 56.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 222,920 shares of the real estate investment trust's stock after purchasing an additional 80,825 shares during the period. Clearbridge Investments LLC owned 0.11% of Extra Space Storage worth $35,741,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Zions Bancorporation N.A. increased its stake in shares of Extra Space Storage by 241.9% in the third quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 150 shares during the period. EdgeRock Capital LLC acquired a new stake in shares of Extra Space Storage in the fourth quarter valued at about $26,000. EverSource Wealth Advisors LLC increased its stake in shares of 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 valued at $28,000 after buying an additional 143 shares during the period. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Extra Space Storage during the 3rd quarter valued at about $32,000. Finally, Anchor Investment Management LLC bought a new stake in shares of Extra Space Storage during the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 99.11% of the company's stock.
Insider Transactions at Extra Space Storage
In other news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $145.00, for a total value of $195,750.00. Following the completion of the transaction, the executive vice president now directly owns 37,028 shares of the company's stock, valued at $5,369,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the business'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 transaction, the executive vice president now directly owns 37,028 shares in the company, valued at $5,369,060. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CMO Samrat Sondhi sold 2,048 shares of the business's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $146.46, for a total value 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 disclosure for this sale can be found here. Insiders sold 3,532 shares of company stock valued at $514,819 over the last three months. Company insiders own 1.36% of the company's stock.
Extra Space Storage Stock Performance
Shares of EXR traded down $2.32 on Thursday, reaching $144.05. 116,234 shares of the company's stock traded hands, compared to its average volume of 1,135,913. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.73. The stock has a market cap of $30.50 billion, a PE ratio of 32.60, a PEG ratio of 3.50 and a beta of 0.76. The stock's 50 day simple moving average is $142.22 and its two-hundred day simple moving average is $142.52. Extra Space Storage Inc. has a 52-week low of $101.19 and a 52-week high of $164.99.
Extra Space Storage (NYSE:EXR - Get Free Report) last released 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 6.76% and a net margin of 29.10%. The firm had revenue of $797.77 million during the quarter, compared to analysts' expectations of $778.05 million. During the same period in the prior year, the business earned $2.09 earnings per share. The business's quarterly revenue was up 57.4% compared to the same quarter last year. On average, analysts forecast that Extra Space Storage Inc. will post 8.05 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several equities research analysts recently commented on EXR shares. Wells Fargo & Company upped their target price on Extra Space Storage from $150.00 to $160.00 and gave the company an "overweight" rating in a research report on Friday, April 5th. Deutsche Bank Aktiengesellschaft started coverage on Extra Space Storage in a research report on Tuesday, January 30th. They set a "hold" rating and a $141.00 target price on the stock. StockNews.com lowered Extra Space Storage from a "hold" rating to a "sell" rating in a report on Saturday, March 2nd. Evercore ISI cut their price target on Extra Space Storage from $145.00 to $139.00 in a report on Wednesday, May 1st. Finally, Scotiabank started coverage on Extra Space Storage in a report on Tuesday, February 13th. They issued a "sector underperform" rating and a $131.00 price target on the stock. Two investment 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. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $149.75.
Read Our Latest Report on EXR
About Extra Space Storage
(Free Report)
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.
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