Extra Space Storage Inc (NYSE:EXR) Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 0.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,077,577 shares of the real estate investment trust's stock after purchasing an additional 12,607 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.45% of Extra Space Storage worth $456,989,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in EXR. Norges Bank acquired a new stake in shares of Extra Space Storage during the 4th quarter worth approximately $938,647,000. Northern Trust Corp grew its position in shares of Extra Space Storage by 48.7% during the 4th quarter. Northern Trust Corp now owns 2,875,049 shares of the real estate investment trust's stock worth $430,107,000 after buying an additional 941,212 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of Extra Space Storage during the 4th quarter worth approximately $107,453,000. Cohen & Steers Inc. grew its position in shares of Extra Space Storage by 5.9% during the 4th quarter. Cohen & Steers Inc. now owns 9,246,133 shares of the real estate investment trust's stock worth $1,383,094,000 after buying an additional 516,941 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Extra Space Storage during the 4th quarter worth approximately $74,984,000. Institutional investors own 99.11% of the company's stock.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was 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 owned 27,260 shares of the company's stock, valued at $4,098,541. This trade represents a 21.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.96% of the stock is currently owned by company insiders.

Extra Space Storage Stock Down 1.0%

Shares of NYSE EXR traded down $1.54 during mid-day trading on Thursday, reaching $147.41. 1,231,142 shares of the company were exchanged, compared to its average volume of 1,076,519. The firm has a 50-day moving average of $148.93 and a 200 day moving average of $148.39. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.85. 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 $31.28 billion, a price-to-earnings ratio of 34.20, a P/E/G ratio of 3.59 and a beta of 1.10.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.00 EPS for the quarter, beating the consensus estimate of $1.96 by $0.04. Extra Space Storage had a return on equity of 6.11% and a net margin of 27.84%. The company had revenue of $820.00 million for the quarter, compared to analyst estimates of $705.12 million. During the same period last year, the company earned $1.96 earnings per share. Extra Space Storage's quarterly revenue was up 2.6% compared to the same quarter last year. 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 firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $6.48 annualized dividend and a yield of 4.40%. Extra Space Storage's dividend payout ratio (DPR) is 150.35%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on EXR shares. JPMorgan Chase & Co. lifted their price objective on shares of Extra Space Storage from $160.00 to $162.00 and gave the stock a "neutral" rating in a report on Friday, June 13th. Evercore ISI lifted their target price on Extra Space Storage from $144.00 to $149.00 and gave the stock an "in-line" rating in a research note on Thursday, May 1st. BNP Paribas upgraded Extra Space Storage to a "hold" rating in a research note on Tuesday, June 24th. Royal Bank Of Canada lowered their price objective on Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 1st. Finally, BNP Paribas Exane initiated coverage on Extra Space Storage in a research note on Tuesday, June 24th. They issued a "neutral" rating and a $156.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $159.29.

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.