Extra Space Storage Inc. (NYSE:EXR) Stock Holdings Trimmed by Centersquare Investment Management LLC

Centersquare Investment Management LLC cut its holdings in Extra Space Storage Inc. (NYSE:EXR) by 4.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,392,766 shares of the real estate investment trust’s stock after selling 112,222 shares during the quarter. Extra Space Storage comprises 3.8% of Centersquare Investment Management LLC’s holdings, making the stock its 8th largest position. Centersquare Investment Management LLC owned 1.13% of Extra Space Storage worth $357,958,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its stake in Extra Space Storage by 1.7% during the 3rd quarter. State Street Corp now owns 13,390,830 shares of the real estate investment trust’s stock valued at $2,412,894,000 after purchasing an additional 227,006 shares during the last quarter. Norges Bank acquired a new position in Extra Space Storage in the 4th quarter worth approximately $938,647,000. Massachusetts Financial Services Co. MA lifted its stake in Extra Space Storage by 3.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,064,970 shares of the real estate investment trust’s stock valued at $458,520,000 after acquiring an additional 104,986 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Extra Space Storage by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,409,330 shares of the real estate investment trust’s stock worth $360,436,000 after acquiring an additional 43,223 shares during the period. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Extra Space Storage by 5.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 2,127,067 shares of the real estate investment trust’s stock worth $318,209,000 after purchasing an additional 106,608 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Trading Down 2.2 %

Shares of Extra Space Storage stock opened at $144.17 on Friday. Extra Space Storage Inc. has a twelve month low of $131.02 and a twelve month high of $184.87. The firm’s 50-day moving average price is $152.02 and its 200 day moving average price is $159.30. 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 $30.56 billion, a PE ratio of 37.74, a P/E/G 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 earnings per share (EPS) 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 firm had revenue of $821.90 million for the quarter, compared to analyst estimates of $707.34 million. On average, sell-side analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 4.49%. Extra Space Storage’s dividend payout ratio is presently 160.40%.

Analyst Ratings Changes

Several brokerages have weighed in on EXR. Truist Financial increased their price target on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Extra Space Storage in a report on Thursday, March 6th. Royal Bank of Canada decreased their price target on 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. Barclays dropped their price objective on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 12th. Finally, Scotiabank lowered their price target on shares of Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 5th. 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 stock. Based on data from MarketBeat.com, Extra Space Storage has an average rating of “Hold” and an average target price of $171.09.

Insider Buying and Selling at Extra Space Storage

In other news, EVP William N. Springer sold 1,220 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $152.66, for a total transaction 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. The trade was a 5.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the completion of the sale, the chief executive officer now directly owns 9,190 shares of the company’s stock, valued at $1,355,065.50. This represents a 44.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,392 shares of company stock worth $1,392,315. Insiders own 1.36% of the company’s stock.

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.