Lasalle Investment Management Securities LLC Sells 180,660 Shares of Extra Space Storage Inc. (NYSE:EXR)

Lasalle Investment Management Securities LLC trimmed its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 33.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 366,490 shares of the real estate investment trust’s stock after selling 180,660 shares during the quarter. Extra Space Storage accounts for approximately 2.2% of Lasalle Investment Management Securities LLC’s holdings, making the stock its 19th largest position. Lasalle Investment Management Securities LLC owned approximately 0.17% of Extra Space Storage worth $53,874,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of EXR. EdgeRock Capital LLC bought a new position in shares of Extra Space Storage during the 4th quarter valued at $26,000. Creekmur Asset Management LLC purchased a new stake in shares of Extra Space Storage in the 4th quarter worth $26,000. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Extra Space Storage by 200.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 300 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 200 shares in the last quarter. Cornerstone Advisors LLC purchased a new stake in shares of Extra Space Storage in the 1st quarter worth $74,000. Finally, Parkside Financial Bank & Trust increased its stake in shares of Extra Space Storage by 30.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 515 shares of the real estate investment trust’s stock worth $83,000 after purchasing an additional 119 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Price Performance

Shares of Extra Space Storage stock traded up $5.09 during trading on Friday, reaching $164.95. 1,446,380 shares of the stock traded hands, compared to its average volume of 880,260. The company has a market capitalization of $34.92 billion, a price-to-earnings ratio of 36.74, a P/E/G ratio of 3.37 and a beta of 0.83. The business has a fifty day simple moving average of $156.05 and a two-hundred day simple moving average of $147.63. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.20 and a quick ratio of 0.15. Extra Space Storage Inc. has a 52-week low of $101.19 and a 52-week high of $171.46.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date was Friday, June 14th. Extra Space Storage’s payout ratio is 144.32%.

Analyst Ratings Changes

Several research firms have recently commented on EXR. StockNews.com upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Barclays upped their price objective on Extra Space Storage from $157.00 to $158.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Scotiabank increased their price target on Extra Space Storage from $140.00 to $159.00 and gave the stock a “sector underperform” rating in a research note on Friday, July 19th. Wells Fargo & Company increased their price target on Extra Space Storage from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, Evercore ISI increased their price target on Extra Space Storage from $140.00 to $151.00 and gave the stock an “in-line” rating in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $157.67.

Insider Activity at Extra Space Storage

In related news, Director Joseph J. Bonner sold 677 shares of the 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 completion of the transaction, the director now owns 5,229 shares of the company’s stock, valued at approximately $775,042.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction dated 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 owns 31,690 shares of the company’s stock, valued at $4,835,260.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph J. Bonner sold 677 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $148.22, for a total transaction of $100,344.94. Following the completion of the sale, the director now directly owns 5,229 shares of the company’s stock, valued at approximately $775,042.38. The disclosure for this sale can be found here. 1.36% of the stock is owned by insiders.

About Extra Space Storage

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.