Victory Capital Management Inc. Has $24.59 Million Holdings in Extra Space Storage Inc. (NYSE:EXR)

Victory Capital Management Inc. reduced its stake in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,344 shares of the real estate investment trust's stock after selling 2,913 shares during the quarter. Victory Capital Management Inc. owned 0.08% of Extra Space Storage worth $24,586,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Extra Space Storage by 724.1% during the 3rd 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 in the last quarter. Manning & Napier Advisors LLC grew its stake in Extra Space Storage by 1,127.2% during the fourth quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust's stock worth $116,985,000 after buying an additional 718,266 shares during the last quarter. Mizuho Securities USA LLC increased its holdings in shares of Extra Space Storage by 1,664.3% during the third quarter. Mizuho Securities USA LLC now owns 288,094 shares of the real estate investment trust's stock worth $51,912,000 after buying an additional 271,765 shares in the last quarter. State Street Corp raised its stake in shares of Extra Space Storage by 1.7% in the third quarter. State Street Corp now owns 13,390,830 shares of the real estate investment trust's stock valued at $2,412,894,000 after acquiring an additional 227,006 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Extra Space Storage by 485.7% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 237,331 shares of the real estate investment trust's stock worth $42,765,000 after acquiring an additional 196,811 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

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Extra Space Storage Trading Up 1.5 %

Shares of EXR traded up $2.15 during trading hours on Friday, reaching $145.03. The stock had a trading volume of 1,543,783 shares, compared to its average volume of 1,360,695. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87. The firm has a 50-day moving average of $153.06 and a 200 day moving average of $162.43. The company has a market cap of $30.75 billion, a P/E ratio of 37.97, a P/E/G ratio of 7.76 and a beta of 0.90. 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 (NYSE:EXR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.93. The company had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. On average, sell-side analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $1.62 per share. The ex-dividend date is Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.47%. Extra Space Storage's payout ratio is presently 160.40%.

Analyst Upgrades and Downgrades

EXR has been the subject of several research analyst reports. StockNews.com downgraded Extra Space Storage from a "hold" rating to a "sell" rating in a research report on Friday, March 7th. Barclays reduced their price target on shares of Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating on the stock in a research report on Wednesday. Royal Bank of Canada lowered their price objective on shares of Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating for the company in a research report on Thursday, February 27th. The Goldman Sachs Group reiterated a "buy" rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Finally, Wells Fargo & Company lowered 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Extra Space Storage currently has an average rating of "Hold" and a consensus price target of $171.09.

Insider Activity at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total value of $1,110,075.00. Following the sale, the chief executive officer now directly owns 16,690 shares in the company, valued at $2,470,286.90. This trade represents a 31.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William N. Springer sold 1,220 shares of the stock in a transaction 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 transaction, the executive vice president now owns 20,158 shares of the company's stock, valued at $3,077,320.28. The trade was a 5.71 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is owned by insiders.

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.