Vaughan Nelson Investment Management L.P. Has $19.08 Million Position in Extra Space Storage Inc. (NYSE:EXR)

Vaughan Nelson Investment Management L.P. trimmed its position in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 57.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 127,550 shares of the real estate investment trust's stock after selling 171,055 shares during the period. Vaughan Nelson Investment Management L.P. owned approximately 0.06% of Extra Space Storage worth $19,081,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Tidal Investments LLC lifted its position in Extra Space Storage by 34.4% in the third 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. Swedbank AB lifted its position in Extra Space Storage by 4.5% in the third quarter. Swedbank AB now owns 243,130 shares of the real estate investment trust's stock worth $43,810,000 after purchasing an additional 10,408 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Extra Space Storage by 724.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust's stock worth $357,100,000 after purchasing an additional 1,741,320 shares during the period. Duff & Phelps Investment Management Co. lifted its position in Extra Space Storage by 9.5% in the third quarter. Duff & Phelps Investment Management Co. now owns 35,503 shares of the real estate investment trust's stock worth $6,397,000 after purchasing an additional 3,093 shares during the period. Finally, Brown Financial Advisors lifted its position in Extra Space Storage by 69.1% in the third quarter. Brown Financial Advisors now owns 9,134 shares of the real estate investment trust's stock worth $1,646,000 after purchasing an additional 3,731 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Stock Up 0.7 %

Shares of EXR traded up $1.10 during mid-day trading on Thursday, reaching $155.90. The company's stock had a trading volume of 816,122 shares, compared to its average volume of 1,244,484. The business has a fifty day moving average of $152.46 and a 200 day moving average of $164.05. The company has a market cap of $33.05 billion, a price-to-earnings ratio of 40.81, a price-to-earnings-growth ratio of 7.77 and a beta of 0.91. Extra Space Storage Inc. has a 1 year low of $131.02 and a 1 year 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a $1.62 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.16%. Extra Space Storage's payout ratio is currently 169.63%.

Insider Activity

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the completion of the sale, the chief executive officer now directly owns 16,690 shares in the company, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Diane Olmstead sold 3,081 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $164.56, for a total value of $507,009.36. Following the sale, the director now owns 5,877 shares of the company's stock, valued at approximately $967,119.12. This represents a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on EXR shares. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $175.00 price target on shares of Extra Space Storage in a report on Monday, October 21st. StockNews.com raised Extra Space Storage from a "sell" rating to a "hold" rating in a report on Tuesday, January 28th. Truist Financial upped their price target on Extra Space Storage from $167.00 to $168.00 and gave the company a "hold" rating in a report on Thursday, December 5th. Barclays dropped their price target on Extra Space Storage from $192.00 to $184.00 and set an "overweight" rating on the stock in a report on Monday, January 13th. Finally, Scotiabank raised Extra Space Storage from a "sector underperform" rating to a "sector perform" rating and set a $167.00 price target on the stock in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Extra Space Storage currently has an average rating of "Hold" and a consensus target price of $174.00.

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.