Ruffer LLP Invests $47.49 Million in Extra Space Storage Inc $EXR

Ruffer LLP bought a new stake in Extra Space Storage Inc (NYSE:EXR) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 investment portfolio, making the stock its 12th largest position. Ruffer LLP owned about 0.16% of Extra Space Storage at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Chung Wu Investment Group LLC purchased a new stake in shares of Extra Space Storage in the 2nd quarter valued at $29,000. Versant Capital Management Inc grew its position in Extra Space Storage by 60.2% in the 3rd quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 80 shares in the last quarter. Davis Capital Management purchased a new stake in Extra Space Storage during the third quarter worth about $35,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Extra Space Storage during the second quarter worth about $37,000. Finally, MTM Investment Management LLC purchased a new position in shares of Extra Space Storage in the second quarter valued at approximately $38,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on EXR. Truist Financial upped their target price on shares of Extra Space Storage from $142.00 to $146.00 and gave the stock a “hold” rating in a research note on Tuesday, January 20th. Morgan Stanley cut their price objective on Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating on the stock in a research report on Friday, December 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Extra Space Storage in a report on Thursday, January 22nd. Royal Bank Of Canada cut their price target on Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating on the stock in a report on Friday, November 7th. Finally, Evercore ISI reiterated a “cautious” rating on shares of Extra Space Storage in a research note on Monday, November 3rd. Six equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $146.53.

Extra Space Storage Price Performance

EXR stock opened at $137.05 on Thursday. The business has a 50 day moving average price of $134.70 and a 200 day moving average price of $139.37. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.89. The stock has a market cap of $29.09 billion, a price-to-earnings ratio of 30.59, a PEG ratio of 2.69 and a beta of 1.27. Extra Space Storage Inc has a fifty-two week low of $121.03 and a fifty-two week high of $162.77.

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

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.