abrdn plc Buys 2,354 Shares of Extra Space Storage Inc. (NYSE:EXR)

abrdn plc increased its stake in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 155,288 shares of the real estate investment trust's stock after purchasing an additional 2,354 shares during the period. abrdn plc owned approximately 0.07% of Extra Space Storage worth $23,012,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tidal Investments LLC lifted its position in shares of Extra Space Storage by 34.4% during the 3rd quarter. Tidal Investments LLC now owns 12,640 shares of the real estate investment trust's stock worth $2,278,000 after buying an additional 3,234 shares during the last quarter. Swedbank AB raised its stake in Extra Space Storage by 4.5% during the third quarter. Swedbank AB now owns 243,130 shares of the real estate investment trust's stock worth $43,810,000 after acquiring an additional 10,408 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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 worth $357,100,000 after acquiring an additional 1,741,320 shares during the last quarter. Duff & Phelps Investment Management Co. grew its holdings in shares of Extra Space Storage by 9.5% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 35,503 shares of the real estate investment trust's stock valued at $6,397,000 after purchasing an additional 3,093 shares during the last quarter. Finally, Brown Financial Advisors increased its position in Extra Space Storage by 69.1% during the 3rd quarter. Brown Financial Advisors now owns 9,134 shares of the real estate investment trust's stock worth $1,646,000 after purchasing an additional 3,731 shares in the last quarter. Institutional investors own 99.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on EXR shares. Evercore ISI cut their target price on shares of Extra Space Storage from $170.00 to $168.00 and set an "in-line" rating on the stock in a research report on Monday, October 14th. Scotiabank raised Extra Space Storage from a "sector underperform" rating to a "sector perform" rating and set a $167.00 price objective on the stock in a report on Friday, January 10th. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $175.00 target price on shares of Extra Space Storage in a report on Monday, October 21st. Truist Financial lifted their price target on Extra Space Storage from $167.00 to $168.00 and gave the company a "hold" rating in a research note on Thursday, December 5th. Finally, StockNews.com raised Extra Space Storage from a "sell" rating to a "hold" rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $174.00.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the completion of the sale, the chief executive officer now directly owns 16,690 shares in the company, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Diane Olmstead sold 3,081 shares of Extra Space Storage 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 completion of the transaction, the director now directly owns 5,877 shares of the company's stock, valued at approximately $967,119.12. This trade represents a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is owned by insiders.

Extra Space Storage Trading Up 0.3 %

EXR stock traded up $0.52 during trading on Monday, hitting $156.52. The company had a trading volume of 810,834 shares, compared to its average volume of 1,291,040. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a one year low of $131.02 and a one year high of $184.87. The business has a 50-day moving average of $153.06 and a 200-day moving average of $164.20. The stock has a market cap of $33.18 billion, a PE ratio of 40.97, a PEG ratio of 7.77 and a beta of 0.91.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.14%. The ex-dividend date was Monday, December 16th. Extra Space Storage's dividend payout ratio (DPR) is presently 169.63%.

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.