Russell Investments Group Ltd. Sells 151,238 Shares of Extra Space Storage Inc. (NYSE:EXR)

Russell Investments Group Ltd. lowered its stake in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 21.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 542,315 shares of the real estate investment trust's stock after selling 151,238 shares during the quarter. Russell Investments Group Ltd. owned about 0.26% of Extra Space Storage worth $81,116,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Walleye Capital LLC boosted its holdings in shares of Extra Space Storage by 174.8% in the third quarter. Walleye Capital LLC now owns 1,280 shares of the real estate investment trust's stock valued at $231,000 after acquiring an additional 2,992 shares in the last quarter. Benjamin Edwards Inc. increased its position in shares of Extra Space Storage by 168.5% during the 3rd quarter. Benjamin Edwards Inc. now owns 4,629 shares of the real estate investment trust's stock valued at $835,000 after purchasing an additional 2,905 shares during the period. HighTower Advisors LLC raised its stake in shares of Extra Space Storage by 3.5% in the 3rd quarter. HighTower Advisors LLC now owns 44,420 shares of the real estate investment trust's stock worth $8,008,000 after buying an additional 1,486 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Extra Space Storage by 1.7% during the third quarter. Janus Henderson Group PLC now owns 29,117 shares of the real estate investment trust's stock valued at $5,246,000 after buying an additional 500 shares in the last quarter. Finally, IHT Wealth Management LLC bought a new position in Extra Space Storage during the third quarter valued at about $282,000. Institutional investors own 99.11% of the company's stock.

Extra Space Storage Stock Down 0.6 %

Shares of Extra Space Storage stock traded down $0.82 during trading on Friday, hitting $131.02. 469,839 shares of the stock traded hands, compared to its average volume of 1,066,197. The stock has a market cap of $27.81 billion, a P/E ratio of 34.25, a PEG ratio of 7.76 and a beta of 0.96. The company has a fifty day moving average price of $148.99 and a two-hundred day moving average price of $156.95. Extra Space Storage Inc. has a twelve month low of $121.03 and a twelve month high of $184.87. 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 posted its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, topping the consensus estimate of $1.10 by $0.93. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The company had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. Equities research analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage's dividend payout ratio is 160.40%.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, EVP William N. Springer sold 1,220 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $152.66, for a total value of $186,245.20. Following the sale, the executive vice president now 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred 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 directly owns 9,190 shares of the company's stock, valued at $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. In the last ninety days, insiders have sold 9,392 shares of company stock valued at $1,392,315. Corporate insiders own 1.36% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. 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 for the company in a report on Friday, February 21st. The Goldman Sachs Group restated a "buy" rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Scotiabank raised Extra Space Storage from a "sector perform" rating to a "sector outperform" rating and reduced their price objective for the stock from $165.00 to $149.00 in a research note on Wednesday. Barclays cut their target price on 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. Finally, 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 note on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $167.25.

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.