Ceredex Value Advisors LLC Has $25.71 Million Holdings in Extra Space Storage Inc. (NYSE:EXR)

Ceredex Value Advisors LLC trimmed its stake in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 35.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 142,675 shares of the real estate investment trust's stock after selling 78,075 shares during the quarter. Ceredex Value Advisors LLC owned approximately 0.07% of Extra Space Storage worth $25,709,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Extra Space Storage by 19.3% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 247,203 shares of the real estate investment trust's stock valued at $36,307,000 after acquiring an additional 40,055 shares during the last quarter. Norden Group LLC purchased a new position in Extra Space Storage during the first quarter worth about $1,947,000. Gateway Investment Advisers LLC acquired a new stake in Extra Space Storage in the 2nd quarter worth about $16,026,000. Centersquare Investment Management LLC grew its holdings in Extra Space Storage by 1.3% in the 1st quarter. Centersquare Investment Management LLC now owns 2,546,475 shares of the real estate investment trust's stock valued at $341,941,000 after buying an additional 32,591 shares during the period. Finally, MADDEN SECURITIES Corp acquired a new position in shares of Extra Space Storage during the 2nd quarter valued at about $1,002,000. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Extra Space Storage Stock Down 1.3 %

EXR stock traded down $2.17 during mid-day trading on Friday, hitting $161.13. 749,578 shares of the company were exchanged, compared to its average volume of 1,038,952. The firm has a fifty day simple moving average of $173.78 and a 200 day simple moving average of $160.54. Extra Space Storage Inc. has a twelve month low of $104.72 and a twelve month high of $184.87. The company has a market capitalization of $34.15 billion, a PE ratio of 42.18, a price-to-earnings-growth ratio of 6.20 and a beta of 0.86. The company has a current ratio of 0.23, a quick ratio of 0.20 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($1.12). Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company had revenue of $824.80 million during the quarter, compared to the consensus estimate of $826.93 million. During the same period last year, the business posted $2.02 EPS. The company's revenue for the quarter was up 10.2% on a year-over-year basis. On average, research analysts forecast that Extra Space Storage Inc. will post 8.08 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $1.62 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.02%. Extra Space Storage's dividend payout ratio (DPR) is presently 169.63%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on EXR shares. Royal Bank of Canada began coverage on shares of Extra Space Storage in a report on Tuesday, September 10th. They issued a "sector perform" rating and a $180.00 target price for the company. Barclays boosted their price objective on shares of Extra Space Storage from $188.00 to $192.00 and gave the company an "overweight" rating in a research note on Monday, October 28th. Scotiabank increased their target price on Extra Space Storage from $159.00 to $169.00 and gave the stock a "sector underperform" rating in a research report on Thursday, August 22nd. StockNews.com downgraded Extra Space Storage from a "hold" rating to a "sell" rating in a research report on Thursday. Finally, Truist Financial raised their price objective on Extra Space Storage from $152.00 to $167.00 and gave the stock a "hold" rating in a report on Friday, August 16th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $171.07.

Insider Activity at Extra Space Storage

In other news, EVP William N. Springer sold 2,000 shares of Extra Space Storage stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total transaction of $350,660.00. Following the sale, the executive vice president now owns 11,919 shares of the company's stock, valued at approximately $2,089,758.27. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the transaction, the chief executive officer now owns 24,190 shares in the company, valued at $4,318,398.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William N. Springer sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total value of $350,660.00. Following the completion of the sale, the executive vice president now owns 11,919 shares of the company's stock, valued at $2,089,758.27. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,970 shares of company stock worth $3,367,307 in the last ninety days. 1.36% of the stock is owned by insiders.

About Extra Space Storage

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.