Massachusetts Financial Services Co. MA Acquires 104,986 Shares of Extra Space Storage Inc. (NYSE:EXR)

Massachusetts Financial Services Co. MA grew its stake in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,064,970 shares of the real estate investment trust's stock after purchasing an additional 104,986 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.45% of Extra Space Storage worth $458,520,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of EXR. Tidal Investments LLC raised its holdings in Extra Space Storage by 34.4% in the 3rd quarter. Tidal Investments LLC now owns 12,640 shares of the real estate investment trust's stock valued at $2,278,000 after acquiring an additional 3,234 shares during the period. Duff & Phelps Investment Management Co. increased its stake in shares of Extra Space Storage by 9.5% during the third quarter. Duff & Phelps Investment Management Co. now owns 35,503 shares of the real estate investment trust's stock worth $6,397,000 after purchasing an additional 3,093 shares during the period. Brown Financial Advisors lifted its holdings in Extra Space Storage by 69.1% during the 3rd quarter. Brown Financial Advisors now owns 9,134 shares of the real estate investment trust's stock worth $1,646,000 after purchasing an additional 3,731 shares during the last quarter. Manning & Napier Advisors LLC boosted its stake in Extra Space Storage by 1,127.2% in the 4th quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust's stock valued at $116,985,000 after purchasing an additional 718,266 shares during the period. Finally, Vert Asset Management LLC grew its holdings in Extra Space Storage by 8.0% in the 4th quarter. Vert Asset Management LLC now owns 93,473 shares of the real estate investment trust's stock valued at $13,984,000 after buying an additional 6,910 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

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Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Scotiabank reduced their price target on shares of Extra Space Storage from $167.00 to $165.00 and set a "sector perform" rating on the stock in a research report on Wednesday, March 5th. StockNews.com downgraded Extra Space Storage from a "hold" rating to a "sell" rating in a research note on Friday, March 7th. Royal Bank of Canada cut their target price on shares of 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 decreased their price target 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. Finally, Wells Fargo & Company cut their price target on shares of Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating on the stock in a report on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $171.09.

Extra Space Storage Trading Down 4.2 %

Shares of EXR stock traded down $6.11 during mid-day trading on Friday, hitting $138.05. The company's stock had a trading volume of 1,378,935 shares, compared to its average volume of 1,055,579. The company has a market cap of $29.27 billion, a PE ratio of 36.14, a P/E/G ratio of 7.76 and a beta of 0.90. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The company's fifty day simple moving average is $151.74 and its 200-day simple moving average is $159.02. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, topping analysts' consensus estimates of $1.10 by $0.93. The business had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. As a group, equities research analysts expect 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 declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.69%. The ex-dividend date was Friday, March 14th. Extra Space Storage's dividend payout ratio (DPR) is currently 160.40%.

Insider Activity

In related news, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction dated 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 directly owns 9,190 shares of the company's stock, valued at $1,355,065.50. The trade was a 44.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph J. Bonner sold 672 shares of the 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 completion of the transaction, the director now owns 4,557 shares in the company, valued at approximately $679,448.70. The trade was a 12.85 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,392 shares of company stock worth $1,392,315. Company insiders own 1.36% of the company's stock.

Extra Space Storage 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.