Van Lanschot Kempen Investment Management N.V. Trims Stake in Extra Space Storage Inc. (NYSE:EXR)

Van Lanschot Kempen Investment Management N.V. decreased its holdings in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 154,395 shares of the real estate investment trust's stock after selling 4,337 shares during the quarter. Van Lanschot Kempen Investment Management N.V. owned 0.07% of Extra Space Storage worth $23,097,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in EXR. Cohen & Steers Inc. boosted its stake in shares of Extra Space Storage by 5.9% during the 4th quarter. Cohen & Steers Inc. now owns 9,246,133 shares of the real estate investment trust's stock worth $1,383,094,000 after acquiring an additional 516,941 shares during the last quarter. Norges Bank purchased a new position in Extra Space Storage during the fourth quarter valued at $938,647,000. Dimensional Fund Advisors LP grew its holdings in Extra Space Storage by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,136,640 shares of the real estate investment trust's stock valued at $469,229,000 after purchasing an additional 24,533 shares during the period. Massachusetts Financial Services Co. MA increased its position in Extra Space Storage by 3.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,064,970 shares of the real estate investment trust's stock worth $458,520,000 after buying an additional 104,986 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Extra Space Storage by 3.5% in the fourth quarter. Invesco Ltd. now owns 2,575,742 shares of the real estate investment trust's stock worth $385,331,000 after buying an additional 87,354 shares during the period. 99.11% of the stock is currently owned by institutional investors.

Extra Space Storage Price Performance

NYSE EXR traded down $0.81 during trading on Friday, hitting $141.05. 730,000 shares of the stock traded hands, compared to its average volume of 1,288,692. 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 Inc. has a 12-month low of $121.03 and a 12-month high of $184.87. The firm has a 50-day simple moving average of $145.78 and a 200-day simple moving average of $154.53. The company has a market capitalization of $29.93 billion, a P/E ratio of 36.92, a price-to-earnings-growth ratio of 7.76 and a beta of 0.96.

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 analysts' consensus estimates of $1.10 by $0.93. The firm had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. As a group, analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $1.62 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.59%. Extra Space Storage's dividend payout ratio (DPR) is presently 160.40%.

Insider Activity

In other Extra Space Storage news, EVP William N. Springer sold 1,220 shares of the company'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 transaction of $186,245.20. Following the sale, the executive vice president now directly owns 20,158 shares in the company, valued at $3,077,320.28. This represents a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total value of $1,105,875.00. Following the completion of the transaction, the chief executive officer now owns 9,190 shares of the company's stock, valued at approximately $1,355,065.50. This trade represents a 44.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,392 shares of company stock worth $1,392,315. 1.36% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

EXR has been the subject of several analyst reports. Mizuho began coverage on shares of Extra Space Storage in a report on Wednesday, April 9th. They issued an "outperform" rating and a $141.00 target price for the company. Barclays reduced their price objective on shares of Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating for the company in a research note on Wednesday, March 12th. Wells Fargo & Company decreased their price objective on shares of 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. Royal Bank of Canada dropped their target price on shares of Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating for the company in a report on Thursday, February 27th. Finally, Scotiabank upgraded Extra Space Storage from a "sector perform" rating to a "sector outperform" rating and lowered their price objective for the company from $165.00 to $149.00 in a research report on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Extra Space Storage presently has an average rating of "Hold" and an average price target of $167.25.

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.