Rockefeller Capital Management L.P. Lowers Stake in Extra Space Storage Inc. (NYSE:EXR)

Rockefeller Capital Management L.P. lessened its position in Extra Space Storage Inc. (NYSE:EXR) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,548 shares of the real estate investment trust’s stock after selling 303 shares during the period. Rockefeller Capital Management L.P.’s holdings in Extra Space Storage were worth $3,073,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. MML Investors Services LLC boosted its holdings in shares of Extra Space Storage by 12.6% during the third quarter. MML Investors Services LLC now owns 5,994 shares of the real estate investment trust’s stock worth $1,080,000 after purchasing an additional 672 shares during the last quarter. World Investment Advisors LLC purchased a new position in Extra Space Storage during the third quarter worth about $216,000. Wilmington Savings Fund Society FSB acquired a new stake in Extra Space Storage in the 3rd quarter worth about $654,000. Tidal Investments LLC grew its holdings in 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 buying an additional 3,234 shares during the period. Finally, Copley Financial Group Inc. acquired a new position in shares of Extra Space Storage during the 3rd quarter valued at about $659,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on EXR shares. 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 report on Thursday, February 27th. 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 for the company in a research note on Friday, February 21st. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Mizuho started coverage on Extra Space Storage in a research report on Wednesday, April 9th. They set an “outperform” rating and a $141.00 price target for the company. Finally, Scotiabank upgraded Extra Space Storage from a “sector perform” rating to a “sector outperform” rating and dropped their price target for the stock from $165.00 to $149.00 in a research note on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $167.25.

Extra Space Storage Stock Up 2.0 %

Shares of Extra Space Storage stock opened at $140.99 on Friday. Extra Space Storage Inc. has a 1-year low of $121.03 and a 1-year high of $184.87. The company has a market capitalization of $29.92 billion, a PE ratio of 36.91, a P/E/G ratio of 7.76 and a beta of 0.96. 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 business has a 50-day moving average of $146.92 and a 200-day moving average of $155.42.

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, 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 firm had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. As a group, equities analysts forecast that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.60%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage’s payout ratio is currently 160.40%.

Insiders Place Their Bets

In other Extra Space Storage news, Director Joseph J. Bonner sold 672 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $149.10, for a total value of $100,195.20. Following the transaction, the director now owns 4,557 shares of the company’s stock, valued at $679,448.70. This trade represents a 12.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP William N. Springer sold 1,220 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were 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. This trade represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,392 shares of company stock valued at $1,392,315 in the last quarter. Insiders own 1.36% of the company’s stock.

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.