BI Asset Management Fondsmaeglerselskab A S Purchases 2,060 Shares of Extra Space Storage Inc. (NYSE:EXR)

BI Asset Management Fondsmaeglerselskab A S raised its position in Extra Space Storage Inc. (NYSE:EXR) by 59.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,543 shares of the real estate investment trust’s stock after purchasing an additional 2,060 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Extra Space Storage were worth $889,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. EdgeRock Capital LLC bought a new stake in shares of Extra Space Storage during the 4th quarter worth approximately $26,000. Zions Bancorporation N.A. lifted its position in shares of Extra Space Storage by 241.9% during the third quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 150 shares during the last quarter. Anchor Investment Management LLC purchased a new stake in shares of Extra Space Storage during the fourth quarter valued at $35,000. EverSource Wealth Advisors LLC increased its stake in 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 buying an additional 143 shares during the period. Finally, Bruce G. Allen Investments LLC bought a new stake in Extra Space Storage during the 4th quarter valued at about $41,000. Institutional investors own 99.11% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Raymond James reaffirmed an “outperform” rating and set a $160.00 target price on shares of Extra Space Storage in a research report on Thursday, March 28th. Scotiabank assumed coverage on Extra Space Storage in a report on Tuesday, February 13th. They issued a “sector underperform” rating and a $131.00 target price for the company. Evercore ISI cut their price target on Extra Space Storage from $145.00 to $139.00 in a research note on Wednesday, May 1st. Barclays upped their price objective on shares of Extra Space Storage from $157.00 to $158.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, March 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $149.75.

Extra Space Storage Stock Up 0.2 %

EXR opened at $146.36 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.15. Extra Space Storage Inc. has a fifty-two week low of $101.19 and a fifty-two week high of $164.99. The company has a fifty day moving average of $142.22 and a two-hundred day moving average of $142.52. The stock has a market capitalization of $30.99 billion, a price-to-earnings ratio of 32.60, a PEG ratio of 3.50 and a beta of 0.76.

Extra Space Storage (NYSE:EXR) last issued 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 business had revenue of $797.77 million during the quarter, compared to analyst estimates of $778.05 million. Extra Space Storage had a net margin of 29.10% and a return on equity of 6.76%. The firm’s revenue for the quarter was up 57.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.09 earnings per share. On average, research analysts expect that Extra Space Storage Inc. will post 8.05 earnings per share for the current year.

Insider Activity

In other news, CMO Samrat Sondhi sold 2,048 shares of Extra Space Storage 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 sale, the chief marketing officer now directly owns 94,126 shares of the company’s stock, valued at $13,785,693.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Extra Space Storage 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 sale, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Samrat Sondhi sold 2,048 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $146.46, for a total transaction of $299,950.08. Following the transaction, the chief marketing officer now directly owns 94,126 shares in the company, valued at approximately $13,785,693.96. The disclosure for this sale can be found here. Insiders have sold a total of 3,532 shares of company stock worth $514,819 over the last 90 days. 1.36% of the stock is currently owned by company insiders.

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.