Extra Space Storage Inc. (NYSE:EXR) Position Increased by Boston Partners

Boston Partners raised its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 5.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,466,816 shares of the real estate investment trust’s stock after buying an additional 82,104 shares during the period. Boston Partners owned about 0.69% of Extra Space Storage worth $219,437,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in EXR. Golden State Wealth Management LLC bought a new stake in Extra Space Storage during the fourth quarter worth approximately $25,000. Harbour Investments Inc. boosted its holdings in Extra Space Storage by 90.9% during the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 80 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Extra Space Storage during the third quarter worth approximately $42,000. Quent Capital LLC boosted its stake in Extra Space Storage by 89.0% in the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 154 shares during the period. Finally, Asset Planning Inc acquired a new position in Extra Space Storage in the 4th quarter worth approximately $52,000. 99.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Royal Bank of Canada decreased 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 note on Thursday, February 27th. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Friday, March 7th. Truist Financial raised their price objective on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Scotiabank decreased their price objective on shares of Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating for the company in a research note on Wednesday, March 5th. Finally, Barclays decreased their price objective on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $171.09.

Insider Activity

In related news, Director Joseph J. Bonner sold 672 shares of Extra Space Storage stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $149.10, for a total value of $100,195.20. Following the transaction, the director now owns 4,557 shares in the company, valued at $679,448.70. This trade represents a 12.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage 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 transaction, the chief executive officer now owns 16,690 shares in the company, valued at $2,470,286.90. This trade represents a 31.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,392 shares of company stock worth $1,396,515. 1.36% of the stock is owned by corporate insiders.

Extra Space Storage Stock Up 0.8 %

Extra Space Storage stock opened at $147.85 on Wednesday. The company has a market capitalization of $31.34 billion, a P/E ratio of 38.70, a P/E/G ratio of 7.76 and a beta of 0.90. The firm’s fifty day simple moving average is $152.88 and its 200-day simple moving average is $161.60. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 1-year low of $131.02 and a 1-year high of $184.87.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.93. The business had revenue of $821.90 million for 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%. Sell-side analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 4.38%. Extra Space Storage’s dividend payout ratio is currently 160.40%.

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.