Extra Space Storage Inc (NYSE:EXR) Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP sold 45,483 shares of Extra Space Storage, reducing its holdings by 1.5% to a total of approximately 3,091,157 shares valued at $458.99 million.
• Extra Space Storage has experienced recent upgrades and downgrades from various analysts, maintaining a consensus rating of "Hold" and a price target of $155.85.
• The company recently paid a quarterly dividend of $1.62, with an annualized yield of 4.7%, although its payout ratio stands at a high 140.56%.

Dimensional Fund Advisors LP decreased its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 1.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,091,157 shares of the real estate investment trust's stock after selling 45,483 shares during the period. Dimensional Fund Advisors LP owned approximately 1.46% of Extra Space Storage worth $458,986,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of EXR. Aptus Capital Advisors LLC raised its holdings in shares of Extra Space Storage by 4.3% in the 4th quarter. Aptus Capital Advisors LLC now owns 1,638 shares of the real estate investment trust's stock valued at $245,000 after purchasing an additional 68 shares in the last quarter. Siemens Fonds Invest GmbH raised its holdings in shares of Extra Space Storage by 3.0% in the 4th quarter. Siemens Fonds Invest GmbH now owns 2,320 shares of the real estate investment trust's stock valued at $342,000 after purchasing an additional 68 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Extra Space Storage by 8.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 934 shares of the real estate investment trust's stock valued at $139,000 after purchasing an additional 73 shares in the last quarter. Naviter Wealth LLC raised its stake in Extra Space Storage by 0.6% during the 1st quarter. Naviter Wealth LLC now owns 13,645 shares of the real estate investment trust's stock worth $2,007,000 after acquiring an additional 82 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in Extra Space Storage by 0.5% during the 4th quarter. Mackenzie Financial Corp now owns 18,363 shares of the real estate investment trust's stock worth $2,747,000 after acquiring an additional 90 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Evercore ISI cut their price target on shares of 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 upgraded shares of Extra Space Storage to a "hold" rating in a research note on Tuesday, June 24th. Wells Fargo & Company cut their price target on shares of Extra Space Storage from $165.00 to $160.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 23rd. BNP Paribas Exane assumed coverage on shares of Extra Space Storage in a research note on Tuesday, June 24th. They set a "neutral" rating and a $156.00 price target on the stock. Finally, Royal Bank Of Canada cut their price target on shares of 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $155.85.

Extra Space Storage Trading Up 0.3%

Shares of Extra Space Storage stock opened at $137.01 on Friday. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $184.87. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market capitalization of $29.08 billion, a P/E ratio of 29.72, a PEG ratio of 3.31 and a beta of 1.07. The company's fifty day moving average is $146.30 and its two-hundred day moving average is $147.31.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued 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 net margin of 29.51% and a return on equity of 6.69%. The firm's revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.06 EPS. Analysts forecast that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a $1.62 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $6.48 annualized dividend and a dividend yield of 4.7%. Extra Space Storage's payout ratio is presently 140.56%.

Insider Buying and Selling at Extra Space Storage

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

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.

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