Boston Partners Sells 226,707 Shares of Extra Space Storage Inc (NYSE:EXR)

Boston Partners lessened its holdings in shares of Extra Space Storage Inc (NYSE:EXRFree Report) by 15.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,240,109 shares of the real estate investment trust’s stock after selling 226,707 shares during the period. Boston Partners’ holdings in Extra Space Storage were worth $184,123,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EXR. Vanguard Group Inc. boosted its stake in shares of Extra Space Storage by 0.9% in the first quarter. Vanguard Group Inc. now owns 33,969,485 shares of the real estate investment trust’s stock valued at $5,044,129,000 after buying an additional 295,556 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Extra Space Storage by 205.7% in the first quarter. JPMorgan Chase & Co. now owns 4,094,555 shares of the real estate investment trust’s stock valued at $608,001,000 after buying an additional 2,755,265 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Extra Space Storage by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,136,640 shares of the real estate investment trust’s stock valued at $469,229,000 after buying an additional 24,533 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Extra Space Storage by 0.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,077,577 shares of the real estate investment trust’s stock valued at $456,989,000 after buying an additional 12,607 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Extra Space Storage by 18.7% during the 1st quarter. Invesco Ltd. now owns 3,056,384 shares of the real estate investment trust’s stock worth $453,843,000 after acquiring an additional 480,642 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on EXR shares. Wells Fargo & Company reduced their price target on shares of Extra Space Storage from $165.00 to $160.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 23rd. Mizuho increased their price target on shares of Extra Space Storage from $141.00 to $153.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 28th. Scotiabank increased their price target on shares of Extra Space Storage from $149.00 to $166.00 and gave the stock a “sector outperform” rating in a research report on Monday, May 12th. JPMorgan Chase & Co. increased their price target on shares of Extra Space Storage from $160.00 to $162.00 and gave the stock a “neutral” rating in a research report on Friday, June 13th. Finally, Royal Bank Of Canada reduced their price target on shares of Extra Space Storage from $160.00 to $148.00 and set a “sector perform” rating on the stock in a research report on Monday, August 4th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $155.85.

Read Our Latest Stock Analysis on Extra Space Storage

Extra Space Storage Stock Performance

Shares of Extra Space Storage stock opened at $138.21 on Thursday. Extra Space Storage Inc has a fifty-two week low of $121.03 and a fifty-two week high of $184.87. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market capitalization of $29.34 billion, a P/E ratio of 29.98, a P/E/G ratio of 3.28 and a beta of 1.07. The company’s 50 day moving average price is $146.81 and its two-hundred day moving average price is $147.57.

Extra Space Storage (NYSE:EXRGet Free Report) last issued its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.01). The company had revenue of $841.62 million during the quarter, compared to analyst estimates of $719.43 million. Extra Space Storage had a net margin of 29.51% and a return on equity of 6.69%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.06 EPS. On average, equities analysts forecast that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date was Monday, June 16th. Extra Space Storage’s payout ratio is 140.56%.

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 on Tuesday, July 1st. The shares were sold at an average price of $150.35, for a total transaction of $1,127,625.00. Following the transaction, the chief executive officer owned 27,260 shares in the company, valued at approximately $4,098,541. The trade was a 21.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.96% of the company’s stock.

About Extra Space Storage

(Free Report)

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.

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Institutional Ownership by Quarter for Extra Space Storage (NYSE:EXR)

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