Extra Space Storage Inc. (NYSE:EXR) Stake Trimmed by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC cut its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 1.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,654 shares of the real estate investment trust’s stock after selling 182 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Extra Space Storage were worth $2,192,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in EXR. Tidal Investments LLC lifted its position in shares of Extra Space Storage by 34.4% in the 3rd quarter. Tidal Investments LLC now owns 12,640 shares of the real estate investment trust’s stock valued at $2,278,000 after acquiring an additional 3,234 shares in the last quarter. Duff & Phelps Investment Management Co. raised its stake in Extra Space Storage by 9.5% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 35,503 shares of the real estate investment trust’s stock valued at $6,397,000 after purchasing an additional 3,093 shares during the period. Brown Financial Advisors lifted its holdings in shares of Extra Space Storage by 69.1% in the third quarter. Brown Financial Advisors now owns 9,134 shares of the real estate investment trust’s stock valued at $1,646,000 after purchasing an additional 3,731 shares in the last quarter. Manning & Napier Advisors LLC boosted its position in shares of Extra Space Storage by 1,127.2% in the fourth quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust’s stock worth $116,985,000 after buying an additional 718,266 shares during the period. Finally, Vert Asset Management LLC grew its holdings in shares of Extra Space Storage by 8.0% during the fourth quarter. Vert Asset Management LLC now owns 93,473 shares of the real estate investment trust’s stock valued at $13,984,000 after buying an additional 6,910 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Extra Space Storage

In other news, EVP William N. Springer sold 1,220 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $152.66, for a total value of $186,245.20. Following the completion of the sale, the executive vice president now directly owns 20,158 shares of the company’s stock, valued at approximately $3,077,320.28. This represents a 5.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the completion of the sale, the chief executive officer now owns 9,190 shares in the company, valued at approximately $1,355,065.50. The trade was a 44.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,392 shares of company stock worth $1,392,315 over the last ninety days. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Performance

EXR opened at $138.05 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The company has a market cap of $29.27 billion, a PE ratio of 36.14, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90. The stock has a 50-day moving average of $151.74 and a 200-day moving average of $159.02. Extra Space Storage Inc. has a 52-week low of $131.02 and a 52-week high of $184.87.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, beating the consensus estimate of $1.10 by $0.93. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company had revenue of $821.90 million for the quarter, compared to the consensus estimate of $707.34 million. As a group, equities research 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 company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date was Friday, March 14th. Extra Space Storage’s dividend payout ratio is 160.40%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on EXR. Wells Fargo & Company decreased their price objective on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research report on Friday, February 21st. The Goldman Sachs Group restated a “buy” rating on shares of Extra Space Storage in a report on Thursday, March 6th. Royal Bank of Canada dropped their price objective on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday, March 7th. Finally, Barclays cut their price objective on Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $171.09.

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.