Metis Global Partners LLC Increases Holdings in Extra Space Storage Inc. (NYSE:EXR)

Metis Global Partners LLC grew its holdings in Extra Space Storage Inc. (NYSE:EXR) by 5.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 31,402 shares of the real estate investment trust’s stock after acquiring an additional 1,554 shares during the quarter. Metis Global Partners LLC’s holdings in Extra Space Storage were worth $4,698,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in Extra Space Storage in the fourth quarter valued at approximately $25,000. Ashton Thomas Securities LLC acquired a new position in shares of Extra Space Storage in the 3rd quarter valued at $33,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Extra Space Storage in the 3rd quarter valued at $42,000. Continuum Advisory LLC grew its position in shares of Extra Space Storage by 68.1% in the 3rd quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 126 shares during the last quarter. Finally, Quent Capital LLC raised its stake in Extra Space Storage by 89.0% during the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 154 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insider Transactions at Extra Space Storage

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 in the company, valued at $2,470,286.90. This trade represents a 31.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Price Performance

Shares of NYSE EXR opened at $152.36 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The company has a market cap of $32.30 billion, a PE ratio of 39.88, a P/E/G ratio of 7.76 and a beta of 0.91. The stock has a fifty day moving average price of $152.27 and a 200 day moving average price of $163.45. Extra Space Storage Inc. has a 1-year low of $131.02 and a 1-year high of $184.87.

Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, topping the consensus estimate of $1.10 by $0.93. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The company had revenue of $821.90 million during the quarter, compared to analysts’ expectations of $707.34 million. Sell-side analysts forecast that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.25%. The ex-dividend date is Friday, March 14th. Extra Space Storage’s payout ratio is 160.40%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Wells Fargo & Company dropped their price objective on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday, February 21st. Barclays dropped their price target on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Truist Financial lifted their price target on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Finally, Royal Bank of Canada cut their target price on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $171.55.

About Extra Space Storage

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.