Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lowered its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 22.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,073,318 shares of the real estate investment trust’s stock after selling 591,351 shares during the period. Legal & General Group Plc’s holdings in Extra Space Storage were worth $310,168,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Tidal Investments LLC boosted its position in Extra Space Storage by 34.4% during the 3rd quarter. Tidal Investments LLC now owns 12,640 shares of the real estate investment trust’s stock worth $2,278,000 after acquiring an additional 3,234 shares during the period. Brown Financial Advisors grew its position in Extra Space Storage by 69.1% in the 3rd quarter. Brown Financial Advisors now owns 9,134 shares of the real estate investment trust’s stock valued at $1,646,000 after buying an additional 3,731 shares in the last quarter. Manning & Napier Advisors LLC increased its stake in Extra Space Storage by 1,127.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust’s stock valued at $116,985,000 after buying an additional 718,266 shares during the period. Vert Asset Management LLC increased its stake in Extra Space Storage by 8.0% during the 4th 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 during the period. Finally, Pacer Advisors Inc. raised its position in shares of Extra Space Storage by 134.3% during the 4th quarter. Pacer Advisors Inc. now owns 167,735 shares of the real estate investment trust’s stock worth $25,093,000 after buying an additional 96,136 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Stock Down 4.4 %

EXR stock opened at $126.49 on Wednesday. The company’s 50 day simple moving average is $150.16 and its 200-day simple moving average is $157.78. Extra Space Storage Inc. has a 52-week low of $118.98 and a 52-week high of $184.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The firm has a market capitalization of $26.84 billion, a P/E ratio of 33.11, a P/E/G ratio of 7.76 and a beta of 0.96.

Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $707.34 million. As a group, equities research analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $1.62 dividend. The ex-dividend date was Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 5.12%. Extra Space Storage’s dividend payout ratio is 160.40%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on EXR. Wells Fargo & Company lowered their price objective on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Friday, February 21st. Scotiabank dropped their price objective on 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. Royal Bank of Canada decreased their target price on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. 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 report on Wednesday, March 12th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $171.09.

Insider Transactions at Extra Space Storage

In other news, Director Joseph J. Bonner sold 672 shares of Extra Space Storage stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $149.10, for a total transaction of $100,195.20. Following the completion of the sale, the director now directly owns 4,557 shares in the company, valued at $679,448.70. The trade was a 12.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the executive vice president now owns 20,158 shares in the company, valued at $3,077,320.28. This represents a 5.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,392 shares of company stock valued at $1,392,315 over the last three months. 1.36% of the stock is owned by corporate insiders.

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.