Dimensional Fund Advisors LP Increases Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Dimensional Fund Advisors LP increased its position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,136,640 shares of the real estate investment trust's stock after acquiring an additional 24,533 shares during the quarter. Dimensional Fund Advisors LP owned about 1.48% of Extra Space Storage worth $469,229,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. First Trust Advisors LP increased its stake in Extra Space Storage by 110.1% during the 4th quarter. First Trust Advisors LP now owns 86,826 shares of the real estate investment trust's stock valued at $12,989,000 after purchasing an additional 45,501 shares in the last quarter. GeoWealth Management LLC raised its stake in Extra Space Storage by 22.6% in the 4th quarter. GeoWealth Management LLC now owns 9,438 shares of the real estate investment trust's stock worth $1,412,000 after acquiring an additional 1,740 shares during the last quarter. Commerce Bank lifted its position in Extra Space Storage by 1.2% during the 4th quarter. Commerce Bank now owns 15,677 shares of the real estate investment trust's stock worth $2,345,000 after acquiring an additional 179 shares during the period. Capital International Sarl lifted its position in Extra Space Storage by 22.5% during the 4th quarter. Capital International Sarl now owns 10,709 shares of the real estate investment trust's stock worth $1,602,000 after acquiring an additional 1,968 shares during the period. Finally, Adams Wealth Management grew its stake in Extra Space Storage by 20.2% during the 4th quarter. Adams Wealth Management now owns 5,581 shares of the real estate investment trust's stock valued at $834,000 after purchasing an additional 936 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company's stock.

Extra Space Storage Price Performance

EXR stock traded down $0.85 during trading on Friday, hitting $141.01. The stock had a trading volume of 230,899 shares, compared to its average volume of 1,058,757. Extra Space Storage Inc. has a twelve month low of $121.03 and a twelve month high of $184.87. The company's 50-day moving average price is $145.78 and its two-hundred day moving average price is $154.53. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The stock has a market capitalization of $29.93 billion, a P/E ratio of 36.88, a PEG ratio of 7.76 and a beta of 0.96.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly 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 for the quarter, compared to analyst estimates of $707.34 million. As a group, research analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.60%. The ex-dividend date was Friday, March 14th. Extra Space Storage's payout ratio is currently 160.40%.

Analyst Upgrades and Downgrades

EXR has been the topic of several research reports. The Goldman Sachs Group reiterated a "buy" rating on shares of Extra Space Storage in a report on Thursday, March 6th. Mizuho assumed coverage on shares of Extra Space Storage in a report on Wednesday, April 9th. They set an "outperform" rating and a $141.00 target price for the company. Royal Bank of Canada cut their price target on Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 27th. Barclays reduced their price objective on Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating for the company in a research note on Wednesday, March 12th. Finally, Wells Fargo & Company lowered their target price on Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating on the stock in a research note on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $167.25.

Insiders Place Their Bets

In other news, Director Joseph J. Bonner sold 672 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $149.10, for a total value of $100,195.20. Following the completion of the sale, the director now owns 4,557 shares of the company's stock, valued at $679,448.70. This represents a 12.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $152.66, for a total transaction 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. The trade was a 5.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,392 shares of company stock valued at $1,392,315 in the last three months. 1.36% of the stock is currently owned by insiders.

Extra Space Storage Company 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.