Van Lanschot Kempen Investment Management N.V. Decreases Holdings in Extra Space Storage Inc $EXR

Key Points

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Van Lanschot Kempen Investment Management N.V. trimmed its position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 12.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 135,753 shares of the real estate investment trust's stock after selling 18,642 shares during the quarter. Van Lanschot Kempen Investment Management N.V. owned approximately 0.06% of Extra Space Storage worth $20,158,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Extra Space Storage by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 33,969,485 shares of the real estate investment trust's stock valued at $5,044,129,000 after acquiring an additional 295,556 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Extra Space Storage by 205.7% in the 1st quarter. JPMorgan Chase & Co. now owns 4,094,555 shares of the real estate investment trust's stock worth $608,001,000 after buying an additional 2,755,265 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Extra Space Storage by 0.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,077,577 shares of the real estate investment trust's stock worth $456,989,000 after buying an additional 12,607 shares during the last quarter. Invesco Ltd. grew its stake in shares of Extra Space Storage by 18.7% in the 1st quarter. Invesco Ltd. now owns 3,056,384 shares of the real estate investment trust's stock worth $453,843,000 after buying an additional 480,642 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Extra Space Storage by 1.7% in the 1st quarter. Northern Trust Corp now owns 2,922,828 shares of the real estate investment trust's stock worth $434,011,000 after buying an additional 47,779 shares during the last quarter. 99.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on EXR shares. Royal Bank Of Canada cut their price target on Extra Space Storage from $160.00 to $148.00 and set a "sector perform" rating on the stock in a research note on Monday, August 4th. Evercore ISI cut their price target on Extra Space Storage from $148.00 to $146.00 and set an "in-line" rating on the stock in a research note on Monday, August 4th. BNP Paribas Exane started coverage on Extra Space Storage in a research note on Tuesday, June 24th. They issued a "neutral" rating and a $156.00 price target on the stock. JPMorgan Chase & Co. upped their price target on Extra Space Storage from $160.00 to $162.00 and gave the stock a "neutral" rating in a research note on Friday, June 13th. Finally, Scotiabank boosted their price objective on shares of Extra Space Storage from $149.00 to $166.00 and gave the stock a "sector outperform" rating in a report on Monday, May 12th. Six investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $153.60.

Extra Space Storage Stock Up 2.6%

NYSE EXR traded up $3.6440 during mid-day trading on Friday, reaching $142.6740. The stock had a trading volume of 940,364 shares, compared to its average volume of 1,382,319. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $184.87. The stock has a market cap of $30.28 billion, a PE ratio of 30.95, a price-to-earnings-growth ratio of 3.37 and a beta of 1.07. The company has a fifty day moving average price of $145.21 and a 200 day moving average price of $146.84. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.29 and a quick ratio of 0.29.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share for the quarter, missing analysts' consensus estimates of $2.06 by ($0.01). Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%.The firm had revenue of $841.62 million during the quarter, compared to analysts' expectations of $719.43 million. During the same quarter in the previous year, the firm earned $2.06 earnings per share. Extra Space Storage's revenue was up 3.8% on a year-over-year basis. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. On average, research analysts expect that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a dividend of $1.62 per share. The ex-dividend date is Monday, September 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.5%. Extra Space Storage's payout ratio is currently 140.56%.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $150.35, for a total transaction of $1,127,625.00. Following the completion of the sale, the chief executive officer directly owned 27,260 shares in the company, valued at approximately $4,098,541. The trade was a 21.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.96% of the company's stock.

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.