Extra Space Storage Inc. (NYSE:EXR) Shares Acquired by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. increased its holdings in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 9.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 298,605 shares of the real estate investment trust's stock after acquiring an additional 26,316 shares during the period. Vaughan Nelson Investment Management L.P. owned approximately 0.14% of Extra Space Storage worth $53,806,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA boosted its position in shares of Extra Space Storage by 4.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,549,231 shares of the real estate investment trust's stock worth $551,586,000 after buying an additional 157,763 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Extra Space Storage by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,127,012 shares of the real estate investment trust's stock worth $485,973,000 after purchasing an additional 45,717 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of Extra Space Storage by 7.2% during the second quarter. Diamond Hill Capital Management Inc. now owns 2,965,638 shares of the real estate investment trust's stock worth $460,890,000 after buying an additional 198,888 shares during the last quarter. Pathway Financial Advisers LLC grew its holdings in shares of Extra Space Storage by 17,832.9% during the third quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust's stock worth $363,783,000 after buying an additional 2,007,626 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Extra Space Storage by 20.5% during the second quarter. Canada Pension Plan Investment Board now owns 1,877,100 shares of the real estate investment trust's stock worth $291,720,000 after buying an additional 319,965 shares during the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Extra Space Storage Trading Up 0.7 %

EXR traded up $1.13 during trading on Friday, hitting $164.56. The company's stock had a trading volume of 1,131,986 shares, compared to its average volume of 930,419. The firm's 50 day moving average price is $171.50 and its 200-day moving average price is $162.65. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The stock has a market cap of $34.88 billion, a PE ratio of 43.08, a PEG ratio of 8.29 and a beta of 0.87. Extra Space Storage Inc. has a twelve month low of $125.32 and a twelve month high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($1.12). The business had revenue of $824.80 million during the quarter, compared to analyst estimates of $826.93 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The company's revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.02 earnings per share. On average, analysts expect that Extra Space Storage Inc. will post 8.09 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.94%. Extra Space Storage's payout ratio is 169.63%.

Insider Transactions at Extra Space Storage

In related news, Director Kenneth M. Woolley sold 6,647 shares of the company's stock in a transaction on 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 sale, the director now directly owns 404,306 shares of the company's stock, valued at approximately $71,655,152.38. This represents a 1.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction 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 sale, the chief executive officer now directly owns 24,190 shares of the company's stock, valued at approximately $4,318,398.80. This trade represents a 23.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,970 shares of company stock worth $3,367,307 in the last ninety days. Insiders own 1.36% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on EXR. Bank of America lowered Extra Space Storage from a "neutral" rating to an "underperform" rating and lowered their price objective for the company from $172.00 to $155.00 in a report on Monday, August 5th. Truist Financial lifted their price objective on Extra Space Storage from $152.00 to $167.00 and gave the company a "hold" rating in a report on Friday, August 16th. StockNews.com lowered Extra Space Storage from a "hold" rating to a "sell" rating in a report on Thursday, October 31st. Jefferies Financial Group raised Extra Space Storage from a "hold" rating to a "buy" rating and lifted their price objective for the company from $162.00 to $204.00 in a report on Wednesday, September 18th. Finally, Barclays boosted their price target on Extra Space Storage from $188.00 to $192.00 and gave the stock an "overweight" rating in a research note on Monday, October 28th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $171.50.

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.