Advisors Asset Management Inc. Sells 4,087 Shares of Extra Space Storage Inc. (NYSE:EXR)

Advisors Asset Management Inc. lowered its holdings in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 22.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,753 shares of the real estate investment trust's stock after selling 4,087 shares during the quarter. Advisors Asset Management Inc.'s holdings in Extra Space Storage were worth $2,478,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EdgeRock Capital LLC acquired a new position in shares of Extra Space Storage during the second quarter valued at about $25,000. Centerpoint Advisors LLC bought a new stake in Extra Space Storage during the 2nd quarter worth approximately $27,000. Ashton Thomas Securities LLC bought a new stake in Extra Space Storage during the 3rd quarter worth approximately $33,000. Blue Trust Inc. raised its stake in shares of Extra Space Storage by 540.5% in the second quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 200 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Extra Space Storage by 2,760.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust's stock valued at $44,000 after purchasing an additional 276 shares in the last quarter. Institutional investors own 99.11% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Jefferies Financial Group upgraded Extra Space Storage from a "hold" rating to a "buy" rating and upped their price target for the stock from $162.00 to $204.00 in a report on Wednesday, September 18th. Barclays upped their target price on shares of Extra Space Storage from $188.00 to $192.00 and gave the stock an "overweight" rating in a research note on Monday, October 28th. Wells Fargo & Company reissued an "equal weight" rating and set a $175.00 price target on shares of Extra Space Storage in a research report on Monday, October 21st. Royal Bank of Canada assumed coverage on shares of Extra Space Storage in a research report on Tuesday, September 10th. They issued a "sector perform" rating and a $180.00 price objective for the company. Finally, StockNews.com cut 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, seven have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $171.50.

Insider Activity

In other news, EVP William N. Springer sold 2,000 shares of Extra Space Storage stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total value of $350,660.00. Following the completion of the transaction, the executive vice president now directly owns 11,919 shares in the company, valued at approximately $2,089,758.27. The trade was a 14.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Diane Olmstead sold 3,081 shares of the 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 in the company, valued at $967,119.12. This trade represents a 34.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,228 shares of company stock valued at $3,374,617 over the last quarter. Company insiders own 1.36% of the company's stock.

Extra Space Storage Price Performance

Shares of NYSE EXR opened at $168.14 on Friday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The stock has a fifty day simple moving average of $170.44 and a two-hundred day simple moving average of $163.38. Extra Space Storage Inc. has a 1-year low of $125.32 and a 1-year high of $184.87. The firm has a market cap of $35.64 billion, a price-to-earnings ratio of 44.02, a price-to-earnings-growth ratio of 8.40 and a beta of 0.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($1.12). Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The firm had revenue of $824.80 million for the quarter, compared to the consensus estimate of $826.93 million. During the same quarter in the previous year, the company posted $2.02 EPS. The firm's revenue was up 10.2% compared to the same quarter last year. Analysts anticipate that Extra Space Storage Inc. will post 8.09 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.85%. The ex-dividend date is Monday, December 16th. Extra Space Storage's dividend payout ratio (DPR) is currently 169.63%.

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.