Boston Partners Purchases 82,104 Shares of Extra Space Storage Inc. (NYSE:EXR)

Boston Partners boosted its position in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 5.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,466,816 shares of the real estate investment trust's stock after buying an additional 82,104 shares during the period. Boston Partners owned approximately 0.69% of Extra Space Storage worth $219,437,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of EXR. OneDigital Investment Advisors LLC acquired a new position in Extra Space Storage in the third quarter valued at $210,000. Empowered Funds LLC increased its stake in Extra Space Storage by 7.2% in the third quarter. Empowered Funds LLC now owns 3,928 shares of the real estate investment trust's stock valued at $708,000 after purchasing an additional 264 shares in the last quarter. Natixis Advisors LLC increased its stake in Extra Space Storage by 2.0% in the third quarter. Natixis Advisors LLC now owns 108,688 shares of the real estate investment trust's stock valued at $19,585,000 after purchasing an additional 2,095 shares in the last quarter. Swiss National Bank increased its stake in Extra Space Storage by 0.3% in the third quarter. Swiss National Bank now owns 628,327 shares of the real estate investment trust's stock valued at $113,218,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Pathstone Holdings LLC increased its stake in Extra Space Storage by 1.1% in the third quarter. Pathstone Holdings LLC now owns 13,027 shares of the real estate investment trust's stock valued at $2,347,000 after purchasing an additional 148 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

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Extra Space Storage Stock Down 1.3 %

Extra Space Storage stock traded down $1.96 during midday trading on Friday, hitting $143.92. 1,769,806 shares of the stock were exchanged, compared to its average volume of 1,001,523. Extra Space Storage Inc. has a 52-week low of $131.02 and a 52-week high of $184.87. The stock has a market capitalization of $30.51 billion, a price-to-earnings ratio of 37.67, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90. The business's 50-day moving average price is $152.76 and its 200-day moving average price is $161.05. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77.

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 the consensus estimate of $1.10 by $0.93. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The company had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. On average, research analysts expect that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $1.62 per share. The ex-dividend date is Friday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.50%. Extra Space Storage's payout ratio is currently 160.40%.

Insider Transactions at Extra Space Storage

In related news, Director Joseph J. Bonner sold 672 shares of the firm's 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 transaction, the director now directly owns 4,557 shares of the company's stock, valued at approximately $679,448.70. This trade represents a 12.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction on 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 directly owns 16,690 shares of the company's stock, valued at approximately $2,470,286.90. The trade was a 31.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,392 shares of company stock worth $1,396,515 in the last quarter. Insiders own 1.36% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on EXR shares. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Scotiabank decreased their price target on shares of Extra Space Storage from $167.00 to $165.00 and set a "sector perform" rating for the company in a research note on Wednesday, March 5th. Truist Financial boosted 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. Wells Fargo & Company decreased their target price on shares of Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating for the company in a research report on Friday, February 21st. Finally, Royal Bank of Canada decreased their target price on shares of Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating for the company in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $171.09.

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.