Ruffer LLP Acquires Shares of 336,942 Extra Space Storage Inc $EXR

Ruffer LLP bought a new position in shares of Extra Space Storage Inc (NYSE:EXR) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 336,942 shares of the real estate investment trust’s stock, valued at approximately $47,487,000. Extra Space Storage comprises about 2.6% of Ruffer LLP’s portfolio, making the stock its 12th largest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Federated Hermes Inc. grew its position in Extra Space Storage by 40.8% during the 3rd quarter. Federated Hermes Inc. now owns 2,707 shares of the real estate investment trust’s stock worth $382,000 after purchasing an additional 784 shares during the last quarter. Truist Financial Corp grew its holdings in shares of Extra Space Storage by 5.2% during the third quarter. Truist Financial Corp now owns 14,686 shares of the real estate investment trust’s stock worth $2,070,000 after buying an additional 724 shares during the last quarter. Y Intercept Hong Kong Ltd increased its position in Extra Space Storage by 8.3% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 28,122 shares of the real estate investment trust’s stock valued at $3,964,000 after acquiring an additional 2,158 shares during the period. Resona Asset Management Co. Ltd. raised its stake in Extra Space Storage by 6.6% during the 3rd quarter. Resona Asset Management Co. Ltd. now owns 127,235 shares of the real estate investment trust’s stock valued at $17,982,000 after acquiring an additional 7,831 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in Extra Space Storage by 43.9% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 133,249 shares of the real estate investment trust’s stock worth $18,780,000 after acquiring an additional 40,625 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Price Performance

Shares of NYSE:EXR opened at $137.05 on Thursday. The firm has a market capitalization of $29.09 billion, a price-to-earnings ratio of 30.59, a price-to-earnings-growth ratio of 2.69 and a beta of 1.27. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.24 and a quick ratio of 0.24. The business’s 50 day simple moving average is $134.70 and its 200-day simple moving average is $139.37. Extra Space Storage Inc has a 12 month low of $121.03 and a 12 month high of $162.77.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.02. The firm had revenue of $858.46 million during the quarter, compared to the consensus estimate of $736.26 million. Extra Space Storage had a return on equity of 6.56% and a net margin of 28.40%.Extra Space Storage’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the business posted $2.07 EPS. As a group, equities 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 company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend was Monday, December 15th. Extra Space Storage’s payout ratio is 144.64%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Evercore ISI reaffirmed a “cautious” rating on shares of Extra Space Storage in a report on Monday, November 3rd. UBS Group lowered their target price on shares of Extra Space Storage from $156.00 to $148.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Royal Bank Of Canada cut their price target on shares of Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating for the company in a report on Friday, November 7th. Truist Financial lifted their price objective on Extra Space Storage from $142.00 to $146.00 and gave the company a “hold” rating in a report on Tuesday, January 20th. Finally, Mizuho increased their target price on Extra Space Storage from $137.00 to $143.00 and gave the stock an “outperform” rating in a research note on Monday, January 12th. Six investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $146.53.

Extra Space Storage Company Profile

Extra Space Storage (NYSE: EXR) is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.