Lincluden Management Ltd. Lowers Stake in Extra Space Storage Inc. (NYSE:EXR)

Lincluden Management Ltd. cut its stake in Extra Space Storage Inc. (NYSE:EXR) by 5.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,866 shares of the real estate investment trust’s stock after selling 908 shares during the period. Lincluden Management Ltd.’s holdings in Extra Space Storage were worth $2,523,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors 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 about $25,000. Ashton Thomas Securities LLC purchased a new position in shares of Extra Space Storage during the 3rd quarter valued at about $33,000. Harvest Fund Management Co. Ltd bought a new stake in Extra Space Storage in the 3rd quarter worth approximately $42,000. Quent Capital LLC boosted its stake in Extra Space Storage by 89.0% in the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 154 shares in the last quarter. Finally, Asset Planning Inc bought a new position in Extra Space Storage during the fourth quarter valued at approximately $52,000. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the transaction, the chief executive officer now directly owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. The trade was a 31.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.36% of the stock is owned by corporate insiders.

Extra Space Storage Stock Up 2.0 %

Shares of NYSE:EXR opened at $159.14 on Tuesday. The stock’s 50-day moving average is $151.61 and its 200 day moving average is $163.74. The company has a market cap of $33.73 billion, a PE ratio of 41.66, a P/E/G ratio of 7.76 and a beta of 0.91. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. Extra Space Storage Inc. has a 1 year low of $131.02 and a 1 year high of $184.87.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.07%. Extra Space Storage’s dividend payout ratio (DPR) is presently 169.63%.

Analysts Set New Price Targets

EXR has been the subject of a number of recent research reports. Truist Financial boosted their price objective on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Scotiabank raised shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price target for the company in a research note on Friday, January 10th. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Barclays lowered their target price on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Finally, Wells Fargo & Company reduced their price target on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Friday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Extra Space Storage has a consensus rating of “Hold” and a consensus target price of $173.09.

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.