Extra Space Storage Inc (NYSE:EXR) Shares Sold by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. trimmed its holdings in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 10.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,943,686 shares of the real estate investment trust's stock after selling 228,999 shares during the quarter. Diamond Hill Capital Management Inc. owned 0.92% of Extra Space Storage worth $288,618,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. J. W. Coons Advisors LLC increased its stake in shares of Extra Space Storage by 4.3% during the first quarter. J. W. Coons Advisors LLC now owns 9,212 shares of the real estate investment trust's stock valued at $1,368,000 after buying an additional 378 shares during the period. Oak Thistle LLC increased its stake in shares of Extra Space Storage by 213.2% during the first quarter. Oak Thistle LLC now owns 8,344 shares of the real estate investment trust's stock valued at $1,239,000 after buying an additional 5,680 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of Extra Space Storage by 28.3% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 643,139 shares of the real estate investment trust's stock valued at $95,500,000 after buying an additional 141,912 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of Extra Space Storage during the first quarter valued at $1,472,000. Finally, Choreo LLC increased its stake in shares of Extra Space Storage by 166.5% during the first quarter. Choreo LLC now owns 8,734 shares of the real estate investment trust's stock valued at $1,297,000 after buying an additional 5,457 shares during the period. Hedge funds and other institutional investors own 99.11% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Benchmark cut their target price on Extra Space Storage from $61.00 to $55.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Mizuho boosted their price target on Extra Space Storage from $141.00 to $153.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 28th. BNP Paribas upgraded Extra Space Storage to a "hold" rating in a research report on Tuesday, June 24th. Wall Street Zen upgraded Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Wednesday, April 30th. Finally, Evercore ISI boosted their price target on Extra Space Storage from $144.00 to $149.00 and gave the company an "in-line" rating in a report on Thursday, May 1st. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $157.69.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated 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 sale, the chief executive officer owned 27,260 shares of the company's stock, valued at approximately $4,098,541. This represents a 21.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.96% of the company's stock.

Extra Space Storage Trading Up 0.2%

Shares of NYSE EXR traded up $0.32 during mid-day trading on Friday, reaching $150.83. 866,679 shares of the company's stock were exchanged, compared to its average volume of 1,052,046. The firm has a market capitalization of $32.01 billion, a price-to-earnings ratio of 35.00, a PEG ratio of 3.65 and a beta of 1.10. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.33 and a current ratio of 0.33. Extra Space Storage Inc has a 52-week low of $121.03 and a 52-week high of $184.87. The company's 50-day moving average is $149.12 and its 200-day moving average is $148.43.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.04. The business had revenue of $820.00 million during the quarter, compared to analysts' expectations of $705.12 million. Extra Space Storage had a return on equity of 6.11% and a net margin of 27.84%. The company's revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.96 EPS. Analysts expect that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a dividend of $1.62 per share. The ex-dividend date was Monday, June 16th. This represents a $6.48 annualized dividend and a dividend yield of 4.30%. Extra Space Storage's dividend payout ratio is presently 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.