1832 Asset Management L.P. Sells 20,300 Shares of Extra Space Storage Inc. (NYSE:EXR)

1832 Asset Management L.P. decreased its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 65.5% during the first quarter, HoldingsChannel.com reports. The fund owned 10,700 shares of the real estate investment trust’s stock after selling 20,300 shares during the period. 1832 Asset Management L.P.’s holdings in Extra Space Storage were worth $1,573,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in shares of Extra Space Storage in the fourth quarter valued at approximately $1,022,811,000. Capital Research Global Investors lifted its position in Extra Space Storage by 111.4% during the 4th quarter. Capital Research Global Investors now owns 1,537,317 shares of the real estate investment trust’s stock worth $246,478,000 after acquiring an additional 810,158 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Extra Space Storage by 8.9% during the fourth quarter. Principal Financial Group Inc. now owns 7,083,752 shares of the real estate investment trust’s stock valued at $1,135,738,000 after acquiring an additional 577,918 shares during the period. Vaughan Nelson Investment Management L.P. boosted its holdings in Extra Space Storage by 80,945.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 506,533 shares of the real estate investment trust’s stock valued at $81,213,000 after acquiring an additional 505,908 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in shares of Extra Space Storage by 43.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,557,135 shares of the real estate investment trust’s stock valued at $228,899,000 after purchasing an additional 473,559 shares during the last quarter. 99.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Raymond James boosted their price objective on Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Barclays raised their price objective on shares of Extra Space Storage from $157.00 to $158.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Wells Fargo & Company boosted their target price on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday. Evercore ISI increased their price target on shares of Extra Space Storage from $140.00 to $151.00 and gave the company an “in-line” rating in a report on Monday, July 15th. Finally, StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Extra Space Storage presently has an average rating of “Hold” and a consensus price target of $157.67.

Insiders Place Their Bets

In other news, Director Joseph J. Bonner sold 677 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $148.22, for a total value of $100,344.94. Following the sale, the director now owns 5,229 shares in the company, valued at approximately $775,042.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the sale, the chief executive officer now directly owns 31,690 shares of the company’s stock, valued at $4,835,260.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph J. Bonner sold 677 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $148.22, for a total transaction of $100,344.94. Following the sale, the director now directly owns 5,229 shares of the company’s stock, valued at approximately $775,042.38. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Price Performance

Shares of EXR stock traded up $3.92 during trading hours on Friday, hitting $164.61. The company had a trading volume of 742,322 shares, compared to its average volume of 786,388. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $171.46. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.15. The firm’s fifty day moving average is $154.38 and its 200 day moving average is $147.29. The firm has a market capitalization of $34.85 billion, a price-to-earnings ratio of 36.66, a PEG ratio of 3.47 and a beta of 0.83.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend was Friday, June 14th. Extra Space Storage’s dividend payout ratio (DPR) is 144.32%.

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.