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

Ostrum Asset Management lowered its position in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 56.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,015 shares of the real estate investment trust's stock after selling 3,955 shares during the period. Ostrum Asset Management's holdings in Extra Space Storage were worth $451,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. 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 worth $2,278,000 after purchasing an additional 3,234 shares during the period. Manning & Napier Advisors LLC raised its stake in shares of Extra Space Storage by 1,127.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust's stock worth $116,985,000 after buying an additional 718,266 shares during the period. Vert Asset Management LLC raised its stake in shares of Extra Space Storage by 8.0% during the 4th quarter. Vert Asset Management LLC now owns 93,473 shares of the real estate investment trust's stock worth $13,984,000 after buying an additional 6,910 shares during the period. Pacer Advisors Inc. lifted its position in shares of Extra Space Storage by 134.3% during the 4th quarter. Pacer Advisors Inc. now owns 167,735 shares of the real estate investment trust's stock valued at $25,093,000 after buying an additional 96,136 shares in the last quarter. Finally, Brentview Investment Management LLC acquired a new stake in Extra Space Storage in the 4th quarter valued at $2,852,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Extra Space Storage Trading Down 0.6 %

Shares of EXR traded down $0.81 during trading on Friday, reaching $141.05. 729,981 shares of the company traded hands, compared to its average volume of 1,288,692. The stock has a 50-day simple moving average of $145.78 and a 200-day simple moving average of $154.53. The stock has a market cap of $29.93 billion, a PE ratio of 36.92, a price-to-earnings-growth ratio of 7.76 and a beta of 0.96. Extra Space Storage Inc. has a twelve month low of $121.03 and a twelve month high of $184.87. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.93. The firm had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. On average, analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage's payout ratio is 160.40%.

Insider Activity at Extra Space Storage

In other news, EVP William N. Springer sold 1,220 shares of the firm's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $152.66, for a total value of $186,245.20. Following the sale, the executive vice president now directly owns 20,158 shares in the company, valued at approximately $3,077,320.28. This trade represents a 5.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were 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. This represents a 44.94 % 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 $1,392,315 in the last three months. 1.36% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

EXR has been the topic of several research analyst reports. Scotiabank upgraded shares of Extra Space Storage from a "sector perform" rating to a "sector outperform" rating and dropped their target price for the company from $165.00 to $149.00 in a research report on Wednesday, April 9th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Extra Space Storage in a report on Thursday, March 6th. Wells Fargo & Company lowered their price objective on Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating on the stock in a research note on Friday, February 21st. Royal Bank of Canada cut their target price on 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. Finally, Barclays lowered their price target on shares of Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 12th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently 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.