Natixis Advisors LLC Sells 39,126 Shares of Extra Space Storage Inc. (NYSE:EXR)

Natixis Advisors LLC cut its position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 36.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,562 shares of the real estate investment trust's stock after selling 39,126 shares during the period. Natixis Advisors LLC's holdings in Extra Space Storage were worth $10,406,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tidal Investments LLC raised its stake in shares of 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 in the last quarter. Swedbank AB raised its stake in shares of Extra Space Storage by 4.5% in the 3rd quarter. Swedbank AB now owns 243,130 shares of the real estate investment trust's stock valued at $43,810,000 after acquiring an additional 10,408 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Extra Space Storage by 724.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust's stock valued at $357,100,000 after acquiring an additional 1,741,320 shares in the last quarter. Duff & Phelps Investment Management Co. raised its stake in shares of Extra Space Storage by 9.5% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 35,503 shares of the real estate investment trust's stock valued at $6,397,000 after acquiring an additional 3,093 shares in the last quarter. Finally, Brown Financial Advisors raised its stake in shares of Extra Space Storage by 69.1% in the 3rd quarter. Brown Financial Advisors now owns 9,134 shares of the real estate investment trust's stock valued at $1,646,000 after acquiring an additional 3,731 shares in the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In related news, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $152.66, for a total transaction of $186,245.20. Following the completion of the transaction, the executive vice president now directly owns 20,158 shares of the company's stock, valued at $3,077,320.28. This trade represents a 5.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated 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 transaction, the chief executive officer now directly owns 16,690 shares of the company's stock, valued at $2,470,286.90. This represents a 31.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,392 shares of company stock worth $1,396,515 over the last three months. 1.36% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on EXR. The Goldman Sachs Group reissued a "buy" rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Royal Bank of Canada dropped their price target on 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. StockNews.com downgraded Extra Space Storage from a "hold" rating to a "sell" rating in a research report on Friday, March 7th. Scotiabank dropped their price target on 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. Finally, Wells Fargo & Company dropped their price target on Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating on the stock in a research report on Friday, February 21st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $171.09.

Extra Space Storage Stock Performance

Shares of NYSE:EXR traded down $1.96 during 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 1-year low of $131.02 and a 1-year high of $184.87. The company 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 company's fifty day simple moving average is $152.76 and its 200-day simple moving average is $161.05. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23.

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 for the quarter, topping the consensus estimate of $1.10 by $0.93. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company had revenue of $821.90 million for the quarter, compared to analyst estimates of $707.34 million. Sell-side 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. Shareholders of record on Friday, March 14th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date is Friday, March 14th. Extra Space Storage's dividend payout ratio (DPR) is 160.40%.

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.