GAMMA Investing LLC Has $438,000 Stake in Extra Space Storage Inc. (NYSE:EXR)

GAMMA Investing LLC raised its holdings in Extra Space Storage Inc. (NYSE:EXR) by 6.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,927 shares of the real estate investment trust’s stock after buying an additional 189 shares during the period. GAMMA Investing LLC’s holdings in Extra Space Storage were worth $438,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC grew its stake in Extra Space Storage by 17,832.9% in the third quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust’s stock valued at $363,783,000 after purchasing an additional 2,007,626 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Extra Space Storage by 724.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust’s stock valued at $357,100,000 after buying an additional 1,741,320 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Extra Space Storage by 543.5% in the second quarter. American Century Companies Inc. now owns 397,170 shares of the real estate investment trust’s stock valued at $61,724,000 after buying an additional 335,447 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Extra Space Storage by 20.5% during the second quarter. Canada Pension Plan Investment Board now owns 1,877,100 shares of the real estate investment trust’s stock worth $291,720,000 after acquiring an additional 319,965 shares in the last quarter. Finally, Mizuho Securities USA LLC lifted its stake in Extra Space Storage by 1,664.3% in the third quarter. Mizuho Securities USA LLC now owns 288,094 shares of the real estate investment trust’s stock valued at $51,912,000 after acquiring an additional 271,765 shares during the last quarter. 99.11% of the stock is owned by institutional investors.

Insider Buying and Selling at Extra Space Storage

In related news, Director Diane Olmstead sold 3,081 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $164.56, for a total value of $507,009.36. Following the sale, the director now directly owns 5,877 shares of the company’s stock, valued at $967,119.12. This trade represents a 34.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Up 2.2 %

Shares of NYSE EXR opened at $151.04 on Monday. The stock has a market capitalization of $32.02 billion, a P/E ratio of 39.54, a PEG ratio of 8.03 and a beta of 0.91. The stock’s fifty day moving average is $160.44 and its 200 day moving average is $165.46. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87. 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 (NYSE:EXR) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing the consensus estimate of $2.03 by ($1.12). Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The firm had revenue of $824.80 million during the quarter, compared to the consensus estimate of $826.93 million. During the same period in the prior year, the business earned $2.02 earnings per share. Extra Space Storage’s quarterly revenue was up 10.2% compared to the same quarter last year. Sell-side analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.29%. The ex-dividend date was Monday, December 16th. Extra Space Storage’s payout ratio is presently 169.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Barclays raised their target price on shares of Extra Space Storage from $188.00 to $192.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Scotiabank reduced their target price on Extra Space Storage from $169.00 to $167.00 and set a “sector underperform” rating for the company in a research note on Monday, November 25th. KeyCorp increased their price target on Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Evercore ISI reduced their price objective on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a research report on Monday, October 14th. Finally, StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Three 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, the company has an average rating of “Hold” and an average target price of $173.08.

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.