Vanguard Group Inc. Has $5.04 Billion Holdings in Extra Space Storage Inc. (NYSE:EXR)

Vanguard Group Inc. lifted its stake in Extra Space Storage Inc. (NYSE:EXR) by 0.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 33,673,929 shares of the real estate investment trust’s stock after buying an additional 66,767 shares during the quarter. Vanguard Group Inc. owned approximately 0.16% of Extra Space Storage worth $5,037,620,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Golden State Wealth Management LLC acquired a new stake in Extra Space Storage during the 4th quarter valued at $25,000. Harbour Investments Inc. increased its holdings in Extra Space Storage by 90.9% during the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 80 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Extra Space Storage during the 3rd quarter valued at $42,000. Quent Capital LLC increased its holdings in Extra Space Storage by 89.0% during the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 154 shares in the last quarter. Finally, Asset Planning Inc acquired a new stake in Extra Space Storage during the 4th quarter valued at $52,000. 99.11% of the stock is 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 company’s 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 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the transaction, the chief executive officer now directly owns 16,690 shares in the company, valued at $2,470,286.90. The trade was a 31.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,392 shares of company stock worth $1,396,515 over the last 90 days. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Down 1.3 %

Shares of Extra Space Storage stock opened at $143.92 on Monday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 12 month low of $131.02 and a 12 month high of $184.87. The business has a fifty day simple moving average of $152.76 and a 200 day simple moving average of $160.95. The stock has a market cap of $30.51 billion, a PE ratio of 37.67, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.93. The company had revenue of $821.90 million for the quarter, compared to analyst estimates of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. Research analysts predict 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 will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.50%. Extra Space Storage’s dividend payout ratio is 160.40%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on EXR shares. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Extra Space Storage in a report on Thursday, March 6th. Scotiabank lowered their target price on Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating for the company in a research note on Wednesday, March 5th. Barclays lowered their target price on Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Friday, March 7th. Finally, Wells Fargo & Company lowered their target price on 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. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock 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.