Extra Space Storage Inc. (NYSE:EXR) Position Raised by Achmea Investment Management B.V.

Achmea Investment Management B.V. grew its holdings in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 72.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,480 shares of the real estate investment trust's stock after acquiring an additional 3,134 shares during the period. Achmea Investment Management B.V.'s holdings in Extra Space Storage were worth $1,119,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in EXR. Oregon Public Employees Retirement Fund raised its position in Extra Space Storage by 0.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,160 shares of the real estate investment trust's stock valued at $2,717,000 after purchasing an additional 66 shares during the period. Wedge Capital Management L L P NC raised its holdings in shares of Extra Space Storage by 1.3% during the 4th quarter. Wedge Capital Management L L P NC now owns 5,138 shares of the real estate investment trust's stock valued at $769,000 after buying an additional 68 shares during the period. Lindbrook Capital LLC lifted its position in Extra Space Storage by 14.9% during the 4th quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust's stock worth $78,000 after acquiring an additional 68 shares in the last quarter. Checchi Capital Advisers LLC boosted its holdings in Extra Space Storage by 2.2% in the 4th quarter. Checchi Capital Advisers LLC now owns 3,449 shares of the real estate investment trust's stock worth $516,000 after acquiring an additional 75 shares during the period. Finally, Aptus Capital Advisors LLC grew its position in Extra Space Storage by 5.5% in the third quarter. Aptus Capital Advisors LLC now owns 1,570 shares of the real estate investment trust's stock valued at $283,000 after acquiring an additional 82 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

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Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group restated a "buy" rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Barclays decreased their price objective on shares of Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating for the company in a research report on Wednesday, March 12th. Truist Financial lifted their target price on Extra Space Storage from $167.00 to $168.00 and gave the stock a "hold" rating in a research report on Thursday, December 5th. Royal Bank of Canada reduced their price target on 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. Finally, StockNews.com downgraded Extra Space Storage from a "hold" rating to a "sell" rating in a report on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Extra Space Storage currently has a consensus rating of "Hold" and a consensus price target of $171.09.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total value of $1,110,075.00. Following the sale, the chief executive officer now owns 16,690 shares in the company, valued at approximately $2,470,286.90. This trade represents a 31.00 % 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 Joseph J. Bonner sold 672 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $149.10, for a total value of $100,195.20. Following the transaction, the director now owns 4,557 shares of the company's stock, valued at approximately $679,448.70. This represents a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,392 shares of company stock valued at $1,396,515. Insiders own 1.36% of the company's stock.

Extra Space Storage Stock Performance

EXR traded down $1.22 during trading hours on Wednesday, hitting $146.71. 1,192,127 shares of the stock were exchanged, compared to its average volume of 1,003,756. The stock has a market cap of $31.10 billion, a price-to-earnings ratio of 38.40, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90. The stock has a 50-day simple moving average of $152.88 and a 200-day simple moving average of $161.60. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. Extra Space Storage Inc. has a 12 month low of $131.02 and a 12 month high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted 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 net margin of 25.35% and a return on equity of 5.51%. The company had revenue of $821.90 million for the quarter, compared to the consensus estimate of $707.34 million. Analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

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 given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage's payout ratio is 160.40%.

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.