Extra Space Storage Inc. (NYSE:EXR) Stock Position Boosted by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. lifted its position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 55.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 198,515 shares of the real estate investment trust's stock after purchasing an additional 70,965 shares during the period. Vaughan Nelson Investment Management L.P. owned about 0.09% of Extra Space Storage worth $29,478,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Harbour Investments Inc. lifted its position 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 in the last quarter. Asset Planning Inc acquired a new position in shares of Extra Space Storage during the fourth quarter worth $52,000. Quarry LP increased its stake 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 buying an additional 217 shares during the last quarter. Kestra Investment Management LLC bought a new stake in shares of Extra Space Storage in the fourth quarter worth $54,000. Finally, Parvin Asset Management LLC bought a new stake in shares of Extra Space Storage in the fourth quarter worth $62,000. 99.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

EXR has been the subject of a number of research analyst reports. Royal Bank of Canada dropped their price target on shares of Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating for the company in a research note on Thursday, May 1st. Barclays dropped their price target on shares of Extra Space Storage from $181.00 to $178.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Mizuho lifted their price target on shares of Extra Space Storage from $141.00 to $153.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 28th. JPMorgan Chase & Co. lifted their price target on shares of Extra Space Storage from $160.00 to $162.00 and gave the stock a "neutral" rating in a research note on Friday. Finally, Scotiabank lifted their price target 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 assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $159.54.

Extra Space Storage Stock Performance

Shares of Extra Space Storage stock traded down $1.04 during trading on Friday, hitting $149.47. 945,917 shares of the stock were exchanged, compared to its average volume of 1,056,978. The stock's fifty day moving average is $145.26 and its 200 day moving average is $149.73. The stock has a market cap of $31.72 billion, a PE ratio of 39.13, a P/E/G ratio of 7.76 and a beta of 1.11. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. Extra Space Storage Inc. has a 12 month low of $121.03 and a 12 month high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 EPS for the quarter, topping the consensus estimate of $1.96 by $0.04. The business had revenue of $820.00 million during the quarter, compared to analyst estimates of $705.12 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The company's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.96 earnings per share. As a group, sell-side analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $1.62 per share. The ex-dividend date is Monday, June 16th. This represents a $6.48 annualized dividend and a dividend yield of 4.34%. Extra Space Storage's dividend payout ratio is currently 150.35%.

Insider Transactions at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 9,190 shares in the company, valued at approximately $1,355,065.50. This represents a 44.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.36% of the company's stock.

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.