Fisher Asset Management LLC Sells 13,641 Shares of Extra Space Storage Inc. (NYSE:EXR)

Fisher Asset Management LLC cut its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 23.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,126 shares of the real estate investment trust’s stock after selling 13,641 shares during the quarter. Fisher Asset Management LLC’s holdings in Extra Space Storage were worth $7,075,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in EXR. Zions Bancorporation N.A. lifted its holdings in Extra Space Storage by 241.9% during the 3rd quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 150 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Extra Space Storage by 162.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 143 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Extra Space Storage during the 3rd quarter worth approximately $32,000. Anchor Investment Management LLC acquired a new stake in Extra Space Storage during the 4th quarter valued at $35,000. Finally, Bruce G. Allen Investments LLC bought a new position in Extra Space Storage in the 4th quarter valued at $41,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Stock Up 0.6 %

Extra Space Storage stock opened at $142.69 on Tuesday. The company has a 50 day moving average of $141.63 and a 200-day moving average of $139.21. 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 Inc. has a twelve month low of $101.19 and a twelve month high of $164.99. The stock has a market capitalization of $30.20 billion, a PE ratio of 31.78, a price-to-earnings-growth ratio of 3.48 and a beta of 0.76.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.02 EPS for the quarter, missing the consensus estimate of $2.03 by ($1.01). The company had revenue of $797.77 million during the quarter, compared to the consensus estimate of $778.05 million. Extra Space Storage had a net margin of 29.10% and a return on equity of 6.76%. The company’s revenue was up 57.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.09 earnings per share. On average, equities research analysts anticipate that Extra Space Storage Inc. will post 8.05 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

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

Insider Buying and Selling at Extra Space Storage

In other news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were 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 of the company’s stock, valued at approximately $5,369,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Extra Space Storage news, CMO Samrat Sondhi sold 2,048 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $146.46, for a total transaction of $299,950.08. Following the completion of the sale, the chief marketing officer now directly owns 94,126 shares in the company, valued at $13,785,693.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were 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 in the company, valued at approximately $5,369,060. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,532 shares of company stock worth $514,819. Corporate insiders own 1.36% of the company’s stock.

Analyst Ratings Changes

EXR has been the topic of several research analyst reports. TheStreet upgraded Extra Space Storage from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Extra Space Storage in a research report on Tuesday, January 30th. They set a “hold” rating and a $141.00 target price for the company. Evercore ISI reduced their price target on Extra Space Storage from $145.00 to $139.00 in a research report on Wednesday, May 1st. StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, March 2nd. Finally, Barclays initiated coverage on Extra Space Storage in a report on Wednesday, March 27th. They set an “overweight” rating and a $157.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Extra Space Storage has an average rating of “Hold” and a consensus target price of $149.67.

Extra Space Storage 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.