Extra Space Storage Inc $EXR Shares Sold by Vaughan Nelson Investment Management L.P.

Key Points

• Vaughan Nelson Investment Management L.P. has reduced its stake in Extra Space Storage Inc by 33.7%, owning approximately 0.06% of the company after selling 66,878 shares.
• Extra Space Storage reported $2.05 earnings per share for the last quarter, slightly missing expectations, while its revenue increased by 3.8% year-over-year, amounting to $841.62 million.
• The company recently announced a quarterly dividend of $1.62 per share, representing a dividend yield of 4.5%, with a payout ratio of 140.56%.

Vaughan Nelson Investment Management L.P. decreased its stake in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 33.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 131,637 shares of the real estate investment trust's stock after selling 66,878 shares during the period. Vaughan Nelson Investment Management L.P. owned approximately 0.06% of Extra Space Storage worth $19,409,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. GKV Capital Management Co. Inc. acquired a new position in Extra Space Storage during the 1st quarter valued at about $29,000. Zions Bancorporation National Association UT acquired a new position in Extra Space Storage during the 1st quarter valued at about $50,000. Golden State Wealth Management LLC increased its stake in Extra Space Storage by 147.0% during the 1st quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust's stock valued at $60,000 after buying an additional 241 shares during the period. Ameritas Advisory Services LLC acquired a new position in Extra Space Storage during the 2nd quarter valued at about $75,000. Finally, Wayfinding Financial LLC acquired a new position in Extra Space Storage during the 1st quarter valued at about $76,000. Institutional investors and hedge funds own 99.11% of the company's stock.

Extra Space Storage Stock Performance

Extra Space Storage stock opened at $142.97 on Friday. The firm's 50 day simple moving average is $141.34 and its 200-day simple moving average is $144.43. The company has a market cap of $30.35 billion, a P/E ratio of 31.01, a price-to-earnings-growth ratio of 3.46 and a beta of 1.11. 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 Inc has a fifty-two week low of $121.03 and a fifty-two week high of $175.57.

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

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, September 15th. Extra Space Storage's dividend payout ratio (DPR) is 140.56%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company raised shares of Extra Space Storage from an "equal weight" rating to an "overweight" rating and set a $160.00 price objective on the stock in a research note on Tuesday, August 26th. Barclays lowered their price objective on shares of Extra Space Storage from $178.00 to $169.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $146.00 price objective (down previously from $169.00) on shares of Extra Space Storage in a research note on Thursday, August 21st. UBS Group lowered their price objective on shares of Extra Space Storage from $169.00 to $160.00 and set a "buy" rating on the stock in a research note on Tuesday, September 16th. Finally, Wall Street Zen cut shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research note on Friday, September 26th. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $148.64.

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $141.41, for a total transaction of $1,060,575.00. Following the completion of the sale, the chief executive officer directly owned 19,760 shares in the company, valued at approximately $2,794,261.60. This trade represents a 27.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.96% 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.

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