Ameriprise Financial Inc. Sells 90,202 Shares of Extra Space Storage Inc. (NYSE:EXR)

Ameriprise Financial Inc. cut its stake in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 13.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 562,697 shares of the real estate investment trust's stock after selling 90,202 shares during the period. Ameriprise Financial Inc. owned approximately 0.27% of Extra Space Storage worth $79,304,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cohen & Steers Inc. raised its position in shares of Extra Space Storage by 5.9% in the 4th quarter. Cohen & Steers Inc. now owns 9,246,133 shares of the real estate investment trust's stock valued at $1,383,094,000 after purchasing an additional 516,941 shares in the last quarter. Norges Bank acquired a new position in shares of Extra Space Storage in the 4th quarter valued at approximately $938,647,000. Dimensional Fund Advisors LP increased its holdings in shares of Extra Space Storage by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,136,640 shares of the real estate investment trust's stock valued at $469,229,000 after acquiring an additional 24,533 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Extra Space Storage by 3.5% in 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 last quarter. Finally, Northern Trust Corp increased its holdings in shares of Extra Space Storage by 48.7% in the 4th quarter. Northern Trust Corp now owns 2,875,049 shares of the real estate investment trust's stock valued at $430,107,000 after acquiring an additional 941,212 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Joseph J. Bonner sold 672 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $149.10, for a total value of $100,195.20. Following the completion of the sale, the director now directly owns 4,557 shares of the company's stock, valued at $679,448.70. This represents a 12.85% 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, EVP William N. Springer sold 1,220 shares of the firm'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 transaction of $186,245.20. Following the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 9,392 shares of company stock valued at $1,392,315 over the last three months. Insiders own 0.96% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Bank of America upped their price objective on Extra Space Storage from $155.00 to $161.00 and gave the stock a "neutral" rating in a research note on Tuesday. Evercore ISI upped their price objective on Extra Space Storage from $144.00 to $149.00 and gave the stock an "in-line" rating in a research note on Thursday, May 1st. Mizuho assumed coverage on Extra Space Storage in a research note on Wednesday, April 9th. They set an "outperform" rating and a $141.00 price objective for the company. Wells Fargo & Company lowered their price objective 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. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Extra Space Storage presently has a consensus rating of "Moderate Buy" and an average target price of $158.69.

Extra Space Storage Price Performance

Shares of Extra Space Storage stock traded down $1.87 during trading on Tuesday, hitting $147.02. The stock had a trading volume of 914,459 shares, compared to its average volume of 1,054,858. 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 firm has a market cap of $31.20 billion, a P/E ratio of 38.49, a PEG ratio of 7.76 and a beta of 1.14. The business has a fifty day moving average of $143.63 and a two-hundred day moving average of $152.39. Extra Space Storage Inc. has a fifty-two week low of $121.03 and a fifty-two week high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 EPS for the quarter, beating the consensus estimate of $1.96 by $0.04. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business had revenue of $820.00 million during the quarter, compared to the consensus estimate of $705.12 million. During the same period in the prior year, the business posted $1.96 earnings per share. Extra Space Storage's revenue was up 2.6% compared to the same quarter last year. On average, sell-side 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 business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.41%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage's dividend payout ratio is 150.35%.

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.