Price T Rowe Associates Inc. MD Sells 277,372 Shares of Extra Space Storage Inc. (NYSE:EXR)

Price T Rowe Associates Inc. MD cut its holdings in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 39.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 426,651 shares of the real estate investment trust's stock after selling 277,372 shares during the period. Price T Rowe Associates Inc. MD owned 0.20% of Extra Space Storage worth $63,828,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Extra Space Storage in the fourth quarter valued at $938,647,000. Manning & Napier Advisors LLC grew its holdings in Extra Space Storage by 1,127.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust's stock valued at $116,985,000 after buying an additional 718,266 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC increased its position in shares of Extra Space Storage by 91.2% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,089,753 shares of the real estate investment trust's stock valued at $163,027,000 after buying an additional 519,934 shares during the period. Cohen & Steers Inc. lifted its holdings in shares of Extra Space Storage by 5.9% in the fourth quarter. Cohen & Steers Inc. now owns 9,246,133 shares of the real estate investment trust's stock worth $1,383,094,000 after buying an additional 516,941 shares in the last quarter. Finally, Amundi boosted its position in shares of Extra Space Storage by 82.0% in the fourth quarter. Amundi now owns 828,644 shares of the real estate investment trust's stock valued at $122,649,000 after acquiring an additional 373,274 shares during the period. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Extra Space Storage Trading Up 0.9 %

NYSE:EXR traded up $1.27 during mid-day trading on Friday, reaching $149.55. 838,078 shares of the company's stock traded hands, compared to its average volume of 1,056,236. Extra Space Storage Inc. has a 12-month low of $121.03 and a 12-month high of $184.87. 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 company has a 50 day moving average price of $144.35 and a 200-day moving average price of $153.46. The firm has a market capitalization of $31.74 billion, a price-to-earnings ratio of 39.15, a PEG ratio of 7.76 and a beta of 0.96.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 EPS for the quarter, topping analysts' consensus estimates of $1.96 by $0.04. The company had revenue of $820.00 million during the quarter, compared to analyst estimates of $705.12 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The firm's revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.96 earnings per share. On average, sell-side analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage's payout ratio is currently 150.35%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on EXR shares. Scotiabank upgraded Extra Space Storage from a "sector perform" rating to a "sector outperform" rating and dropped their price target for the company from $165.00 to $149.00 in a research report on Wednesday, April 9th. Evercore ISI upped their target price on Extra Space Storage from $144.00 to $149.00 and gave the stock an "in-line" rating in a research note on Thursday. Wells Fargo & Company decreased their price target on shares of Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating on the stock in a research note on Friday, February 21st. Barclays cut their price objective on shares of 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. Finally, Mizuho assumed coverage on shares of Extra Space Storage in a research report on Wednesday, April 9th. They issued an "outperform" rating and a $141.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $165.42.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, 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 transaction, the chief executive officer now owns 9,190 shares in the company, valued at approximately $1,355,065.50. This represents a 44.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William N. Springer sold 1,220 shares of Extra Space Storage 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 completion of the sale, the executive vice president now owns 20,158 shares of the company's stock, valued at $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 have sold 9,392 shares of company stock valued at $1,392,315 over the last ninety days. Insiders own 0.96% of the company's stock.

About Extra Space Storage

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.