Aew Capital Management L P Sells 432,308 Shares of Extra Space Storage Inc. (NYSE:EXR)

Aew Capital Management L P trimmed its stake in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 74.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 149,379 shares of the real estate investment trust's stock after selling 432,308 shares during the period. Extra Space Storage comprises about 1.1% of Aew Capital Management L P's holdings, making the stock its 28th biggest holding. Aew Capital Management L P owned 0.07% of Extra Space Storage worth $22,347,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp boosted its holdings in shares of Extra Space Storage by 1.7% in the third quarter. State Street Corp now owns 13,390,830 shares of the real estate investment trust's stock worth $2,412,894,000 after buying an additional 227,006 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Extra Space Storage by 4.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,366,107 shares of the real estate investment trust's stock valued at $426,349,000 after purchasing an additional 111,137 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Extra Space Storage by 10.4% in the third quarter. Daiwa Securities Group Inc. now owns 2,020,459 shares of the real estate investment trust's stock valued at $364,066,000 after purchasing an additional 189,949 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position 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 buying an additional 1,741,320 shares during the period. Finally, Hamlin Capital Management LLC grew its holdings in shares of Extra Space Storage by 11.1% during the fourth quarter. Hamlin Capital Management LLC now owns 850,800 shares of the real estate investment trust's stock valued at $127,280,000 after buying an additional 84,757 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Extra Space Storage Stock Up 2.5 %

Shares of EXR traded up $3.82 during trading hours on Wednesday, hitting $157.24. 1,251,657 shares of the company were exchanged, compared to its average volume of 1,350,730. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The company has a market cap of $33.33 billion, a PE ratio of 41.16, a PEG ratio of 7.76 and a beta of 0.91. The firm's 50 day moving average is $152.47 and its 200-day moving average is $163.25. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.93. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The firm had revenue of $821.90 million during the quarter, compared to analysts' expectations of $707.34 million. On average, equities research analysts forecast that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.12%. Extra Space Storage's dividend payout ratio (DPR) is presently 160.40%.

Analyst Ratings Changes

EXR has been the subject of several research analyst reports. Barclays reduced their price objective on Extra Space Storage from $192.00 to $184.00 and set an "overweight" rating for the company in a research note on Monday, January 13th. Royal Bank of Canada decreased their price target on shares of Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating for the company in a report on Thursday, February 27th. Wells Fargo & Company lowered their price objective on shares of Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating on the stock in a research report on Friday, February 21st. Truist Financial increased their target price on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a "hold" rating in a research report on Thursday, December 5th. Finally, Scotiabank lowered their price target on shares of Extra Space Storage from $167.00 to $165.00 and set a "sector perform" rating on the stock in a report on Wednesday. One equities research 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's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $171.36.

Insiders Place Their Bets

In other news, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the completion of the transaction, the chief executive officer now owns 16,690 shares of the company's stock, valued at approximately $2,470,286.90. This represents a 31.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $152.66, for a total value of $186,245.20. Following the sale, the executive vice president now directly owns 20,158 shares in the company, valued at approximately $3,077,320.28. This trade represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.36% of the company's stock.

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.