Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Capital International Investors

Capital International Investors reduced its holdings in Extra Space Storage Inc. (NYSE:EXR) by 13.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,654,211 shares of the real estate investment trust’s stock after selling 564,143 shares during the quarter. Capital International Investors’ holdings in Extra Space Storage were worth $585,880,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of EXR. EdgeRock Capital LLC acquired a new stake in shares of Extra Space Storage in the 4th quarter valued at approximately $26,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Extra Space Storage in the 3rd quarter valued at approximately $32,000. Anchor Investment Management LLC acquired a new stake in shares of Extra Space Storage in the 4th quarter valued at approximately $35,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Extra Space Storage in the 4th quarter valued at approximately $41,000. Finally, Parkside Financial Bank & Trust raised its holdings in Extra Space Storage by 153.8% during the third quarter. Parkside Financial Bank & Trust now owns 396 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 240 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the transaction, the executive vice president now owns 37,028 shares of the company’s stock, valued at $5,369,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.36% of the stock is currently owned by company insiders.

Extra Space Storage Trading Down 0.0 %

NYSE:EXR traded down $0.07 on Wednesday, reaching $147.99. The stock had a trading volume of 570,485 shares, compared to its average volume of 1,107,162. Extra Space Storage Inc. has a 12-month low of $101.19 and a 12-month high of $164.99. The firm’s fifty day moving average is $142.72 and its two-hundred day moving average is $144.11. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.15 and a quick ratio of 0.15. The company has a market cap of $31.33 billion, a price-to-earnings ratio of 33.00, a P/E/G ratio of 3.48 and a beta of 0.81.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.38%. The ex-dividend date is Friday, June 14th. Extra Space Storage’s dividend payout ratio (DPR) is 144.32%.

Analyst Ratings Changes

Several research firms have weighed in on EXR. Evercore ISI lowered their target price on Extra Space Storage from $145.00 to $139.00 in a report on Wednesday, May 1st. Scotiabank began coverage on shares of Extra Space Storage in a research note on Tuesday, February 13th. They issued a “sector underperform” rating and a $131.00 price objective on the stock. Barclays upped their price target on shares of Extra Space Storage from $157.00 to $158.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Raymond James reissued an “outperform” rating and set a $160.00 price objective on shares of Extra Space Storage in a research note on Thursday, March 28th. Finally, Wells Fargo & Company increased their price objective on Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $149.75.

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.