Robeco Institutional Asset Management B.V. Decreases Stake in Extra Space Storage Inc. (NYSE:EXR)

Robeco Institutional Asset Management B.V. trimmed its holdings in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 23.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 111,175 shares of the real estate investment trust's stock after selling 33,420 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.05% of Extra Space Storage worth $20,033,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. EdgeRock Capital LLC bought a new stake in shares of Extra Space Storage in the second quarter worth $25,000. Centerpoint Advisors LLC bought a new stake in shares of Extra Space Storage during the 2nd quarter valued at about $27,000. Blue Trust Inc. increased its position in shares of Extra Space Storage by 540.5% during the 2nd quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust's stock valued at $35,000 after purchasing an additional 200 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Extra Space Storage by 2,760.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust's stock worth $44,000 after purchasing an additional 276 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its holdings in Extra Space Storage by 19.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust's stock valued at $72,000 after buying an additional 76 shares during the last quarter. Institutional investors own 99.11% of the company's stock.

Extra Space Storage Stock Performance

NYSE:EXR traded up $3.08 during mid-day trading on Thursday, hitting $164.12. The company's stock had a trading volume of 487,136 shares, compared to its average volume of 1,038,278. The stock has a market cap of $34.78 billion, a price-to-earnings ratio of 42.15, a PEG ratio of 6.15 and a beta of 0.87. The business's fifty day moving average is $173.03 and its two-hundred day moving average is $161.17. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.20. Extra Space Storage Inc. has a 1 year low of $114.35 and a 1 year high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $824.80 million for the quarter, compared to analyst estimates of $826.93 million. During the same period in the previous year, the business earned $2.02 EPS. Extra Space Storage's revenue for the quarter was up 10.2% compared to the same quarter last year. Analysts anticipate that Extra Space Storage Inc. will post 8.08 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.95%. The ex-dividend date was Monday, September 16th. Extra Space Storage's payout ratio is currently 169.63%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on EXR shares. Bank of America downgraded Extra Space Storage from a "neutral" rating to an "underperform" rating and cut their price objective for the company from $172.00 to $155.00 in a research note on Monday, August 5th. Truist Financial upped their price target on shares of Extra Space Storage from $152.00 to $167.00 and gave the stock a "hold" rating in a research report on Friday, August 16th. Royal Bank of Canada assumed coverage on shares of Extra Space Storage in a research note on Tuesday, September 10th. They set a "sector perform" rating and a $180.00 target price on the stock. Evercore ISI decreased their price target on Extra Space Storage from $170.00 to $168.00 and set an "in-line" rating on the stock in a report on Monday, October 14th. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $175.00 price objective on shares of Extra Space Storage in a research note on Monday, October 21st. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $171.07.

Insider Activity

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was 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 approximately $4,318,398.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Kenneth M. Woolley sold 6,647 shares of the company's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $177.23, for a total transaction of $1,178,047.81. Following the completion of the transaction, the director now owns 404,306 shares in the company, valued at $71,655,152.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total value of $1,338,900.00. Following the completion of the sale, the chief executive officer now owns 24,190 shares in the company, valued at approximately $4,318,398.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,970 shares of company stock worth $3,367,307 in the last ninety days. Company insiders own 1.36% of the company's stock.

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.