Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD trimmed its holdings in Extra Space Storage Inc. (NYSE:EXR) by 39.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 426,651 shares of the real estate investment trust’s stock after selling 277,372 shares during the period. Price T Rowe Associates Inc. MD owned 0.20% of Extra Space Storage worth $63,828,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Dark Forest Capital Management LP increased its position in Extra Space Storage by 71.1% during the fourth quarter. Dark Forest Capital Management LP now owns 6,558 shares of the real estate investment trust’s stock worth $981,000 after purchasing an additional 2,726 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in Extra Space Storage by 35.2% during the fourth quarter. OneDigital Investment Advisors LLC now owns 1,577 shares of the real estate investment trust’s stock worth $236,000 after purchasing an additional 411 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in Extra Space Storage by 3.2% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 15,209 shares of the real estate investment trust’s stock worth $2,275,000 after purchasing an additional 469 shares during the last quarter. MetLife Investment Management LLC increased its position in Extra Space Storage by 1.3% during the fourth quarter. MetLife Investment Management LLC now owns 62,279 shares of the real estate investment trust’s stock worth $9,317,000 after purchasing an additional 792 shares during the last quarter. Finally, Natixis acquired a new stake in Extra Space Storage during the fourth quarter worth about $11,501,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Stock Up 0.7 %

Extra Space Storage stock opened at $142.03 on Tuesday. Extra Space Storage Inc. has a twelve month low of $121.03 and a twelve month high of $184.87. The stock’s fifty day simple moving average is $145.27 and its 200-day simple moving average is $153.90. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $30.14 billion, a P/E ratio of 37.18, a P/E/G ratio of 7.76 and a beta of 0.96.

Extra Space Storage (NYSE:EXR) last posted 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 return on equity of 5.51% and a net margin of 25.35%. The business had revenue of $821.90 million for the quarter, compared to analyst estimates of $707.34 million. As a group, equities analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $1.62 per share. 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 4.56%. Extra Space Storage’s payout ratio is currently 160.40%.

Insider Buying and Selling

In related news, Director Joseph J. Bonner sold 672 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $149.10, for a total transaction of $100,195.20. Following the completion of the transaction, the director now owns 4,557 shares in the company, valued at approximately $679,448.70. The trade was a 12.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the business’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 transaction, the chief executive officer now owns 9,190 shares of the company’s stock, 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. Over the last quarter, insiders sold 9,392 shares of company stock worth $1,392,315. Corporate insiders own 1.36% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Royal Bank of Canada lowered their target price on shares of 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. Mizuho assumed coverage on shares of Extra Space Storage in a research note on Wednesday, April 9th. They issued an “outperform” rating and a $141.00 price target on the stock. Barclays lowered their price objective on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a research report on Wednesday, March 12th. Finally, Wells Fargo & Company cut their target price 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, February 21st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $167.25.

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.