Duff & Phelps Investment Management Co. Has $6.40 Million Stake in Extra Space Storage Inc. (NYSE:EXR)

Duff & Phelps Investment Management Co. grew its holdings in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 9.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,503 shares of the real estate investment trust's stock after purchasing an additional 3,093 shares during the quarter. Duff & Phelps Investment Management Co.'s holdings in Extra Space Storage were worth $6,397,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of EXR. EdgeRock Capital LLC purchased a new position in Extra Space Storage during the second quarter worth approximately $25,000. Centerpoint Advisors LLC acquired a new stake in Extra Space Storage in the second quarter worth $27,000. Ashton Thomas Securities LLC bought a new position in Extra Space Storage in the 3rd quarter worth about $33,000. Blue Trust Inc. raised its stake in shares of Extra Space Storage by 540.5% during the second quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust's stock valued at $35,000 after purchasing an additional 200 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in Extra Space Storage during the 3rd quarter valued at $42,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Extra Space Storage Stock Up 0.6 %

EXR stock traded up $1.02 during trading on Monday, hitting $164.56. 997,761 shares of the company's stock were exchanged, compared to its average volume of 1,022,350. The stock has a market capitalization of $34.88 billion, a price-to-earnings ratio of 42.81, a PEG ratio of 8.23 and a beta of 0.89. Extra Space Storage Inc. has a 52-week low of $131.02 and a 52-week high of $184.87. 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 business has a 50-day moving average price of $168.16 and a two-hundred day moving average price of $165.07.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS 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 company had revenue of $824.80 million for the quarter, compared to analysts' expectations of $826.93 million. During the same quarter last year, the company earned $2.02 EPS. Extra Space Storage's revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, equities research analysts expect that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $1.62 dividend. The ex-dividend date is Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.94%. Extra Space Storage's dividend payout ratio (DPR) is 169.63%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EXR. KeyCorp raised their price target on shares of Extra Space Storage from $172.00 to $178.00 and gave the company an "overweight" rating in a report on Monday, September 9th. Evercore ISI reduced 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. Royal Bank of Canada initiated coverage on Extra Space Storage in a research note on Tuesday, September 10th. They set a "sector perform" rating and a $180.00 price objective for the company. Wells Fargo & Company restated an "equal weight" rating and set a $175.00 target price on shares of Extra Space Storage in a report on Monday, October 21st. Finally, StockNews.com downgraded shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $171.43.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, Director Diane Olmstead sold 3,081 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $164.56, for a total value of $507,009.36. Following the sale, the director now owns 5,877 shares in the company, valued at approximately $967,119.12. This trade represents a 34.39 % 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 this link. Also, Director Kenneth M. Woolley sold 6,647 shares of the business's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $177.23, for a total value of $1,178,047.81. Following the completion of the sale, the director now directly owns 404,306 shares in the company, valued at $71,655,152.38. This represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 17,228 shares of company stock worth $3,023,957. Corporate insiders own 1.36% of the company's stock.

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.