Extra Space Storage Inc. (NYSE:EXR) is Aew Capital Management L P’s 4th Largest Position

Aew Capital Management L P decreased its holdings in Extra Space Storage Inc. (NYSE:EXR) by 4.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 855,512 shares of the real estate investment trust’s stock after selling 38,070 shares during the period. Extra Space Storage makes up approximately 5.0% of Aew Capital Management L P’s portfolio, making the stock its 4th biggest position. Aew Capital Management L P’s holdings in Extra Space Storage were worth $137,164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Extra Space Storage by 17.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,087 shares of the real estate investment trust’s stock valued at $18,933,000 after buying an additional 17,163 shares during the period. NewEdge Wealth LLC purchased a new position in Extra Space Storage in the third quarter valued at approximately $341,000. Vanguard Personalized Indexing Management LLC raised its holdings in Extra Space Storage by 110.8% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,914 shares of the real estate investment trust’s stock valued at $1,448,000 after buying an additional 6,262 shares during the period. Daiwa Securities Group Inc. raised its holdings in Extra Space Storage by 8.4% in the fourth 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 buying an additional 211,395 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Extra Space Storage by 55.7% in the third quarter. Vanguard Group Inc. now owns 33,686,341 shares of the real estate investment trust’s stock valued at $4,095,585,000 after buying an additional 12,055,172 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on EXR. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, March 2nd. Scotiabank assumed coverage on Extra Space Storage in a report on Tuesday, February 13th. They set a “sector underperform” rating and a $131.00 target price on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on Extra Space Storage in a report on Tuesday, January 30th. They set a “hold” rating and a $141.00 target price on the stock. Barclays assumed coverage on Extra Space Storage in a report on Wednesday, March 27th. They set an “overweight” rating and a $157.00 target price on the stock. Finally, Truist Financial raised their target price on Extra Space Storage from $138.00 to $152.00 and gave the company a “hold” rating in a report on Thursday, December 28th. Two equities research 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 MarketBeat.com, Extra Space Storage presently has a consensus rating of “Hold” and a consensus price target of $150.17.

Extra Space Storage Stock Performance

Shares of EXR traded down $0.26 during mid-day trading on Friday, hitting $133.57. The stock had a trading volume of 716,541 shares, compared to its average volume of 1,167,928. The company has a market cap of $28.27 billion, a PE ratio of 27.04, a PEG ratio of 3.31 and a beta of 0.74. The company’s fifty day simple moving average is $141.87 and its two-hundred day simple moving average is $138.07. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.71. Extra Space Storage Inc. has a fifty-two week low of $101.19 and a fifty-two week high of $164.99.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 EPS for the quarter, missing the consensus estimate of $2.03 by ($1.01). The firm had revenue of $797.77 million during the quarter, compared to analyst estimates of $778.05 million. Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. Extra Space Storage’s revenue was up 57.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.09 EPS. On average, equities analysts expect that Extra Space Storage Inc. will post 8.05 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $1.62 per share. The ex-dividend date was Thursday, March 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.85%. Extra Space Storage’s dividend payout ratio is currently 131.17%.

Insider Activity at Extra Space Storage

In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was 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 in the company, valued at approximately $5,369,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was 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 in the company, valued at approximately $5,369,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Samrat Sondhi sold 2,048 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $146.46, for a total value of $299,950.08. Following the completion of the sale, the chief marketing officer now directly owns 94,126 shares in the company, valued at approximately $13,785,693.96. The disclosure for this sale can be found here. Insiders sold 3,532 shares of company stock worth $514,819 in the last 90 days. 1.36% of the stock is currently owned by company insiders.

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.