Extra Space Storage Inc. (NYSE:EXR) Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. grew its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 12.8% during the first quarter, Holdings Channel.com reports. The firm owned 19,872 shares of the real estate investment trust’s stock after buying an additional 2,252 shares during the quarter. Advisors Asset Management Inc.’s holdings in Extra Space Storage were worth $2,921,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in Extra Space Storage by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 33,686,389 shares of the real estate investment trust’s stock valued at $4,951,899,000 after buying an additional 170,380 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Extra Space Storage by 8.9% in the 4th quarter. Principal Financial Group Inc. now owns 7,083,752 shares of the real estate investment trust’s stock worth $1,135,738,000 after acquiring an additional 577,918 shares during the period. Norges Bank bought a new position in shares of Extra Space Storage in the fourth quarter valued at approximately $1,022,811,000. Massachusetts Financial Services Co. MA increased its stake in shares of Extra Space Storage by 6.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,219,030 shares of the real estate investment trust’s stock valued at $516,107,000 after acquiring an additional 186,940 shares during the period. Finally, Daiwa Securities Group Inc. raised its holdings in Extra Space Storage by 8.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 2,724,293 shares of the real estate investment trust’s stock worth $436,786,000 after purchasing an additional 211,395 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $152.58, for a total value of $1,144,350.00. Following the completion of the sale, the chief executive officer now directly owns 31,690 shares of the company’s stock, valued at $4,835,260.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $152.58, for a total value of $1,144,350.00. Following the transaction, the chief executive officer now owns 31,690 shares in the company, valued at $4,835,260.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph J. Bonner sold 677 shares of Extra Space Storage stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $148.22, for a total value of $100,344.94. Following the sale, the director now owns 5,229 shares of the company’s stock, valued at $775,042.38. The disclosure for this sale can be found here. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Up 2.4 %

Shares of EXR traded up $3.92 during mid-day trading on Friday, reaching $164.61. The company’s stock had a trading volume of 742,322 shares, compared to its average volume of 786,388. The company has a market cap of $34.85 billion, a price-to-earnings ratio of 36.66, a price-to-earnings-growth ratio of 3.39 and a beta of 0.83. The business has a fifty day moving average of $154.38 and a 200 day moving average of $147.36. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.73. Extra Space Storage Inc. has a 1 year low of $101.19 and a 1 year high of $171.46.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a yield of 3.94%. Extra Space Storage’s payout ratio is presently 144.32%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday. Scotiabank lifted their target price on Extra Space Storage from $140.00 to $159.00 and gave the stock a “sector underperform” rating in a report on Friday, July 19th. Barclays upped their price target on shares of Extra Space Storage from $157.00 to $158.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Wells Fargo & Company lifted their price objective on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Raymond James increased their target price on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $157.67.

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.