Vaughan Nelson Investment Management L.P. Purchases 70,965 Shares of Extra Space Storage Inc (NYSE:EXR)

Vaughan Nelson Investment Management L.P. lifted its stake in Extra Space Storage Inc (NYSE:EXR - Free Report) by 55.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 198,515 shares of the real estate investment trust's stock after buying an additional 70,965 shares during the quarter. Vaughan Nelson Investment Management L.P. owned approximately 0.09% of Extra Space Storage worth $29,478,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbour Investments Inc. lifted its stake in Extra Space Storage by 90.9% in the 4th 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 in the last quarter. Asset Planning Inc bought a new stake in shares of Extra Space Storage in the fourth quarter worth about $52,000. Quarry LP increased its holdings in shares of Extra Space Storage by 156.1% in 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. Kestra Investment Management LLC purchased a new stake in shares of Extra Space Storage in the fourth quarter worth about $54,000. Finally, Parvin Asset Management LLC bought a new position in Extra Space Storage during the fourth quarter valued at approximately $62,000. Institutional investors own 99.11% of the company's stock.

Insider Buying and Selling

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the transaction, the chief executive officer now directly owns 9,190 shares of the company's stock, valued at approximately $1,355,065.50. This trade represents a 44.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.36% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Wall Street Zen raised shares of Extra Space Storage from a "sell" rating to a "hold" rating in a report on Wednesday, April 30th. Wells Fargo & Company reduced their price target on shares of Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating on the stock in a research report on Friday, February 21st. Mizuho increased their price objective on shares of Extra Space Storage from $141.00 to $153.00 and gave the company an "outperform" rating in a research report on Wednesday, May 28th. Finally, Scotiabank lifted their price objective on shares of Extra Space Storage from $149.00 to $166.00 and gave the stock a "sector outperform" rating in a research note on Monday, May 12th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $159.54.

Extra Space Storage Trading Down 0.5%

Shares of EXR traded down $0.74 during midday trading on Wednesday, hitting $147.15. The stock had a trading volume of 476,423 shares, compared to its average volume of 1,051,356. 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 0.85, a current ratio of 0.33 and a quick ratio of 0.33. The stock's 50 day moving average is $145.95 and its 200 day moving average is $149.40. The firm has a market cap of $31.23 billion, a PE ratio of 34.15, a price-to-earnings-growth ratio of 3.62 and a beta of 1.11.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $820.00 million for the quarter, compared to the consensus estimate of $705.12 million. Extra Space Storage had a net margin of 27.84% and a return on equity of 6.11%. The firm's revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.96 EPS. As a group, analysts forecast 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 will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $1.62 dividend. The ex-dividend date is Monday, June 16th. This represents a $6.48 annualized dividend and a dividend yield of 4.40%. Extra Space Storage's payout ratio is 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.