Natixis Advisors LLC Cuts Stake in Extra Space Storage Inc $EXR

Key Points

• Natixis Advisors LLC cut its position in Extra Space Storage by 39.3% in the fourth quarter, selling 20,819 shares and leaving it with 32,219 shares valued at about $4.2 million.
• CEO Joseph D. Margolis sold 7,500 shares at an average price of $142.08, a transaction worth about $1.07 million, reducing his direct ownership by 10.14%.
• Analyst sentiment is mixed but generally cautious, with the stock carrying an average “Hold” rating and a consensus price target of $152.29, while the company also announced a quarterly dividend of $1.62 per share.

Natixis Advisors LLC reduced its stake in Extra Space Storage Inc (NYSE:EXR - Free Report) by 39.3% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 32,219 shares of the real estate investment trust's stock after selling 20,819 shares during the quarter. Natixis Advisors LLC's holdings in Extra Space Storage were worth $4,196,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Avalon Trust Co purchased a new position in shares of Extra Space Storage in the 3rd quarter worth about $28,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Extra Space Storage in the 3rd quarter worth about $28,000. Rosenberg Matthew Hamilton boosted its holdings in shares of Extra Space Storage by 442.9% in the 4th quarter. Rosenberg Matthew Hamilton now owns 266 shares of the real estate investment trust's stock worth $35,000 after buying an additional 217 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in shares of Extra Space Storage by 39.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 325 shares of the real estate investment trust's stock worth $42,000 after buying an additional 92 shares during the last quarter. Finally, Logan Capital Management Inc. boosted its holdings in shares of Extra Space Storage by 313.7% in the 3rd quarter. Logan Capital Management Inc. now owns 302 shares of the real estate investment trust's stock worth $43,000 after buying an additional 229 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $142.08, for a total transaction of $1,065,600.00. Following the sale, the chief executive officer directly owned 66,495 shares in the company, valued at $9,447,609.60. This represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.96% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on EXR shares. BNP Paribas Exane raised shares of Extra Space Storage from a "neutral" rating to an "outperform" rating and set a $154.00 price target on the stock in a report on Wednesday, March 18th. Mizuho upped their price objective on shares of Extra Space Storage from $150.00 to $155.00 and gave the company an "outperform" rating in a report on Wednesday, May 27th. Truist Financial dropped their price objective on shares of Extra Space Storage from $158.00 to $150.00 and set a "hold" rating on the stock in a report on Wednesday, May 6th. JPMorgan Chase & Co. upped their price objective on shares of Extra Space Storage from $142.00 to $144.00 and gave the company a "neutral" rating in a report on Monday, March 23rd. Finally, Wells Fargo & Company upped their price objective on shares of Extra Space Storage from $148.00 to $154.00 and gave the company an "overweight" rating in a report on Monday, June 1st. Five equities 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $152.29.

Extra Space Storage Price Performance

NYSE EXR opened at $144.93 on Tuesday. The company has a market cap of $30.62 billion, a PE ratio of 32.50, a price-to-earnings-growth ratio of 4.72 and a beta of 1.20. Extra Space Storage Inc has a 52 week low of $125.71 and a 52 week high of $155.19. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93. The firm's 50-day simple moving average is $140.72 and its two-hundred day simple moving average is $138.97.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.87). Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. The company had revenue of $856.03 million for the quarter, compared to the consensus estimate of $851.35 million. During the same quarter in the prior year, the company earned $2.00 earnings per share. The company's quarterly revenue was up 4.4% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Research analysts predict that Extra Space Storage Inc will post 8.24 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $1.62 per share. The ex-dividend date is Monday, June 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.5%. Extra Space Storage's dividend payout ratio is currently 145.29%.

Extra Space Storage Profile

Extra Space Storage NYSE: EXR is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.

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