Extra Space Storage Inc. (NYSE:EXR) Holdings Lowered by Franklin Resources Inc.

Franklin Resources Inc. lessened its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 5.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 149,830 shares of the real estate investment trust’s stock after selling 9,398 shares during the period. Franklin Resources Inc. owned about 0.07% of Extra Space Storage worth $22,415,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Walleye Capital LLC lifted its position in shares of Extra Space Storage by 174.8% in the 3rd quarter. Walleye Capital LLC now owns 1,280 shares of the real estate investment trust’s stock valued at $231,000 after acquiring an additional 2,992 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of Extra Space Storage by 3.5% in the third quarter. HighTower Advisors LLC now owns 44,420 shares of the real estate investment trust’s stock worth $8,008,000 after buying an additional 1,486 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Extra Space Storage by 1.7% during the third quarter. Janus Henderson Group PLC now owns 29,117 shares of the real estate investment trust’s stock valued at $5,246,000 after buying an additional 500 shares in the last quarter. IHT Wealth Management LLC acquired a new position in Extra Space Storage during the third quarter valued at $282,000. Finally, Royal London Asset Management Ltd. lifted its stake in Extra Space Storage by 3.4% in the 3rd quarter. Royal London Asset Management Ltd. now owns 86,078 shares of the real estate investment trust’s stock worth $15,510,000 after acquiring an additional 2,849 shares in the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, EVP William N. Springer sold 1,220 shares of Extra Space Storage 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 transaction, the executive vice president now directly owns 20,158 shares of the company’s stock, valued at $3,077,320.28. The trade was a 5.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total value of $1,105,875.00. Following the completion of the sale, the chief executive officer now directly owns 9,190 shares of the company’s stock, valued at $1,355,065.50. This represents a 44.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,392 shares of company stock worth $1,392,315. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Down 4.2 %

EXR opened at $138.05 on Monday. The firm has a market cap of $29.30 billion, a P/E ratio of 36.14, a price-to-earnings-growth ratio of 7.76 and a beta of 0.96. 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 business has a 50 day moving average price of $151.74 and a 200 day moving average price of $158.72. Extra Space Storage Inc. has a twelve month low of $131.02 and a twelve month high of $184.87.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.93. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business had revenue of $821.90 million during the quarter, compared to analysts’ expectations of $707.34 million. Research analysts forecast that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $1.62 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.69%. Extra Space Storage’s payout ratio is presently 160.40%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on EXR. Wells Fargo & Company dropped their target price on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday, February 21st. Scotiabank dropped their price objective on shares of Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 5th. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Friday, March 7th. Barclays dropped their price target on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 12th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.