Metis Global Partners LLC Buys 736 Shares of Extra Space Storage Inc. (NYSE:EXR)

Metis Global Partners LLC boosted its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,447 shares of the real estate investment trust’s stock after purchasing an additional 736 shares during the period. Metis Global Partners LLC’s holdings in Extra Space Storage were worth $3,599,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Zions Bancorporation N.A. raised its position in 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 buying an additional 150 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings 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 purchasing an additional 143 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Extra Space Storage in the third quarter worth $32,000. Anchor Investment Management LLC acquired a new position in Extra Space Storage during the fourth quarter worth $35,000. Finally, Bruce G. Allen Investments LLC bought a new position in Extra Space Storage in the fourth quarter valued at $41,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, CMO Samrat Sondhi sold 2,048 shares of the company’s stock in a transaction that occurred 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 sale, the chief marketing officer now owns 94,126 shares of the company’s stock, valued at $13,785,693.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Extra Space Storage news, CMO Samrat Sondhi sold 2,048 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was 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 owns 94,126 shares of the company’s stock, valued at approximately $13,785,693.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm’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 of the company’s stock, valued at $5,369,060. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,532 shares of company stock valued at $514,819. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Up 0.6 %

NYSE:EXR traded up $0.81 during trading hours on Monday, hitting $142.68. 1,070,719 shares of the company traded hands, compared to its average volume of 1,185,638. Extra Space Storage Inc. has a one year low of $101.19 and a one year high of $164.99. The company has a market cap of $30.19 billion, a PE ratio of 31.60, a PEG ratio of 3.48 and a beta of 0.76. The firm’s 50-day simple moving average is $141.56 and its 200-day simple moving average is $139.00. The company has a quick ratio of 0.30, a current ratio of 0.15 and a debt-to-equity ratio of 0.73.

Extra Space Storage (NYSE:EXR) last issued 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 return on equity of 6.76% and a net margin of 29.10%. 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 previous year, the business earned $2.09 EPS. The company’s revenue for the quarter was up 57.4% on a year-over-year basis. Equities analysts predict that Extra Space Storage Inc. will post 8.05 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.54%. The ex-dividend date was Thursday, March 14th. Extra Space Storage’s dividend payout ratio is presently 144.32%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Scotiabank initiated coverage on Extra Space Storage in a research note on Tuesday, February 13th. They set a “sector underperform” rating and a $131.00 price objective on the stock. TheStreet raised shares of Extra Space Storage from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. The Goldman Sachs Group boosted their price objective on shares of Extra Space Storage from $168.00 to $187.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Evercore ISI cut their target price on shares of Extra Space Storage from $145.00 to $139.00 in a research note on Wednesday, May 1st. Finally, Barclays initiated coverage on Extra Space Storage in a research report on Wednesday, March 27th. They set an “overweight” rating and a $157.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $149.67.

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.