Bamco Inc. NY Has $3.24 Million Position in Extra Space Storage Inc. (NYSE:EXR)

Bamco Inc. NY lowered its holdings in Extra Space Storage Inc. (NYSE:EXR) by 80.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,014 shares of the real estate investment trust’s stock after selling 89,722 shares during the quarter. Bamco Inc. NY’s holdings in Extra Space Storage were worth $3,236,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its position in Extra Space Storage by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 33,686,389 shares of the real estate investment trust’s stock valued at $4,951,899,000 after purchasing an additional 170,380 shares during the period. Principal Financial Group Inc. grew its position in Extra Space Storage by 8.9% in the 4th quarter. Principal Financial Group Inc. now owns 7,083,752 shares of the real estate investment trust’s stock valued at $1,135,738,000 after purchasing an additional 577,918 shares during the period. Norges Bank acquired a new stake in Extra Space Storage in the 4th quarter valued at $1,022,811,000. Massachusetts Financial Services Co. MA grew its position in Extra Space Storage by 6.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,219,030 shares of the real estate investment trust’s stock valued at $516,107,000 after purchasing an additional 186,940 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in Extra Space Storage by 8.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,724,293 shares of the real estate investment trust’s stock valued at $436,786,000 after purchasing an additional 211,395 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Stock Performance

Shares of NYSE EXR traded down $1.91 during mid-day trading on Monday, reaching $162.70. 350,929 shares of the company’s stock were exchanged, compared to its average volume of 1,069,181. The firm has a market capitalization of $34.45 billion, a price-to-earnings ratio of 36.37, a price-to-earnings-growth ratio of 3.47 and a beta of 0.83. Extra Space Storage Inc. has a 52 week low of $101.19 and a 52 week high of $171.46. 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 firm has a 50-day moving average price of $154.38 and a two-hundred day moving average price of $147.22.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend was Friday, June 14th. Extra Space Storage’s dividend payout ratio is currently 144.32%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on EXR shares. Barclays raised their price objective on Extra Space Storage from $157.00 to $158.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Scotiabank raised their price objective on Extra Space Storage from $140.00 to $159.00 and gave the company a “sector underperform” rating in a research note on Friday, July 19th. Raymond James raised their price objective on Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. StockNews.com upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Wells Fargo & Company raised their price objective on Extra Space Storage from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Extra Space Storage currently has an average rating of “Hold” and an average target price of $157.67.

Insider Activity at Extra Space Storage

In related news, Director Joseph J. Bonner sold 677 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $148.22, for a total value of $100,344.94. Following the sale, the director now directly owns 5,229 shares in the company, valued at approximately $775,042.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $152.58, for a total value of $1,144,350.00. Following the sale, the chief executive officer now directly owns 31,690 shares in the company, valued at approximately $4,835,260.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph J. Bonner sold 677 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $148.22, for a total value of $100,344.94. Following the completion of the sale, the director now owns 5,229 shares in the company, valued at $775,042.38. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by company insiders.

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.