Extra Space Storage Inc. (NYSE:EXR) Holdings Decreased by Man Group plc

Man Group plc lessened its stake in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 33.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,748 shares of the real estate investment trust's stock after selling 5,883 shares during the quarter. Man Group plc's holdings in Extra Space Storage were worth $1,758,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Golden State Wealth Management LLC purchased a new stake in shares of Extra Space Storage during the fourth quarter worth approximately $25,000. Harbour Investments Inc. raised its stake in shares of Extra Space Storage by 90.9% during the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 80 shares during the last quarter. Quent Capital LLC raised its stake in shares of Extra Space Storage by 89.0% during the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust's stock worth $49,000 after purchasing an additional 154 shares during the last quarter. Asset Planning Inc purchased a new stake in shares of Extra Space Storage during the fourth quarter worth approximately $52,000. Finally, Quarry LP raised its stake in shares of Extra Space Storage by 156.1% during the fourth quarter. Quarry LP now owns 356 shares of the real estate investment trust's stock worth $53,000 after purchasing an additional 217 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company's stock.

Extra Space Storage Price Performance

Shares of EXR stock traded up $1.92 during mid-day trading on Thursday, reaching $150.41. The stock had a trading volume of 130,290 shares, compared to its average volume of 1,053,166. Extra Space Storage Inc. has a 12-month low of $121.03 and a 12-month high of $184.87. The company has a market cap of $31.92 billion, a P/E ratio of 39.35, a price-to-earnings-growth ratio of 7.76 and a beta of 1.14. The business has a 50-day simple moving average of $143.38 and a 200 day simple moving average of $151.18. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings data 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 firm 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 5.51% and a net margin of 25.35%. The firm's quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.96 EPS. On average, sell-side analysts anticipate 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 will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date is Monday, June 16th. Extra Space Storage's payout ratio is 150.35%.

Insider Activity

In other Extra Space Storage news, Director Joseph J. Bonner sold 672 shares of Extra Space Storage stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $149.10, for a total transaction of $100,195.20. Following the sale, the director now directly owns 4,557 shares in the company, valued at $679,448.70. The trade was a 12.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $186,245.20. Following the sale, the executive vice president now owns 20,158 shares in the company, 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 in the last three months. Corporate insiders own 0.96% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Benchmark cut their price target on Extra Space Storage from $61.00 to $55.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Barclays cut their price objective on Extra Space Storage from $181.00 to $178.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Royal Bank of Canada cut their price objective on Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating for the company in a research report on Thursday, May 1st. Wall Street Zen upgraded Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Wednesday, April 30th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Extra Space Storage presently has a consensus rating of "Moderate Buy" and an average target price of $159.38.

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.