Pictet Asset Management Holding SA Raises Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Pictet Asset Management Holding SA increased its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 0.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 500,293 shares of the real estate investment trust’s stock after acquiring an additional 3,820 shares during the period. Pictet Asset Management Holding SA’s holdings in Extra Space Storage were worth $74,844,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. State Street Corp raised its holdings in Extra Space Storage by 1.7% in the third quarter. State Street Corp now owns 13,390,830 shares of the real estate investment trust’s stock valued at $2,412,894,000 after acquiring an additional 227,006 shares in the last quarter. Norges Bank acquired a new position in Extra Space Storage during the 4th quarter worth $938,647,000. Charles Schwab Investment Management Inc. lifted its holdings in Extra Space Storage by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,409,330 shares of the real estate investment trust’s stock worth $360,436,000 after purchasing an additional 43,223 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Extra Space Storage by 5.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 2,127,067 shares of the real estate investment trust’s stock valued at $318,209,000 after acquiring an additional 106,608 shares in the last quarter. Finally, Boston Partners boosted its stake in Extra Space Storage by 5.9% during the 4th quarter. Boston Partners now owns 1,466,816 shares of the real estate investment trust’s stock valued at $219,437,000 after purchasing an additional 82,104 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the transaction, the chief executive officer now owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. This represents a 31.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William N. Springer sold 1,220 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following the sale, the executive vice president now directly owns 20,158 shares in the company, valued at approximately $3,077,320.28. The trade was a 5.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,392 shares of company stock worth $1,396,515 in the last quarter. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Trading Up 0.2 %

NYSE EXR opened at $145.41 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87. The stock has a market capitalization of $30.83 billion, a price-to-earnings ratio of 38.07, a PEG ratio of 7.76 and a beta of 0.90. The stock’s 50 day moving average price is $152.33 and its two-hundred day moving average price is $160.01.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, beating the consensus estimate of $1.10 by $0.93. The company had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. As a group, analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $1.62 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.46%. Extra Space Storage’s dividend payout ratio (DPR) is presently 160.40%.

Analyst Ratings Changes

Several research firms have issued reports on EXR. The Goldman Sachs Group restated a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Wells Fargo & Company decreased their target price on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Friday, March 7th. Truist Financial increased their target price on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Finally, Barclays dropped their price target on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. Two 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. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $171.09.

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.