Extra Space Storage Inc. (NYSE:EXR) Shares Sold by APG Asset Management US Inc.

APG Asset Management US Inc. cut its holdings in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,533,561 shares of the real estate investment trust's stock after selling 45,052 shares during the quarter. Extra Space Storage accounts for approximately 2.9% of APG Asset Management US Inc.'s investment portfolio, making the stock its 12th largest position. APG Asset Management US Inc. owned 1.20% of Extra Space Storage worth $379,021,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Norges Bank purchased a new stake in Extra Space Storage during the 4th quarter valued at $938,647,000. Massachusetts Financial Services Co. MA grew its holdings in Extra Space Storage by 3.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,064,970 shares of the real estate investment trust's stock valued at $458,520,000 after purchasing an additional 104,986 shares during the last quarter. Invesco Ltd. raised its position in Extra Space Storage by 3.5% in the 4th quarter. Invesco Ltd. now owns 2,575,742 shares of the real estate investment trust's stock worth $385,331,000 after purchasing an additional 87,354 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Extra Space Storage by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,409,330 shares of the real estate investment trust's stock worth $360,436,000 after purchasing an additional 43,223 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of Extra Space Storage by 5.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 2,127,067 shares of the real estate investment trust's stock valued at $318,209,000 after buying an additional 106,608 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company's stock.

Extra Space Storage Price Performance

Shares of Extra Space Storage stock traded up $1.89 during trading hours on Monday, reaching $135.76. 256,484 shares of the company's stock were exchanged, compared to its average volume of 1,068,788. The business has a fifty day moving average of $148.62 and a two-hundred day moving average of $156.48. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $28.81 billion, a P/E ratio of 35.54, a price-to-earnings-growth ratio of 7.76 and a beta of 0.96. Extra Space Storage Inc. has a 1 year low of $121.03 and a 1 year high of $184.87.

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

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date was Friday, March 14th. Extra Space Storage's dividend payout ratio is presently 160.40%.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total value of $1,105,875.00. Following the completion of the sale, the chief executive officer now owns 9,190 shares in the company, valued at approximately $1,355,065.50. The trade was a 44.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William N. Springer sold 1,220 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following the transaction, the executive vice president now 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. Over the last ninety days, insiders have sold 9,392 shares of company stock worth $1,392,315. Company insiders own 1.36% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Scotiabank upgraded shares of Extra Space Storage from a "sector perform" rating to a "sector outperform" rating and decreased their price objective for the company from $165.00 to $149.00 in a report on Wednesday, April 9th. Royal Bank of Canada lowered their price objective on shares of Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating for the company in a research note on Thursday, February 27th. Barclays dropped their price objective on shares of Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 12th. Mizuho initiated coverage on shares of Extra Space Storage in a research report on Wednesday, April 9th. They set an "outperform" rating and a $141.00 price target for the company. Finally, StockNews.com downgraded shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research report on Friday, March 7th. Two analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $167.25.

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.