Extra Space Storage Inc. (NYSE:EXR) Holdings Trimmed by Cascade Investment Group Inc.

Cascade Investment Group Inc. lowered its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 2.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,246 shares of the real estate investment trust’s stock after selling 180 shares during the quarter. Extra Space Storage accounts for approximately 1.1% of Cascade Investment Group Inc.’s investment portfolio, making the stock its 21st largest position. Cascade Investment Group Inc.’s holdings in Extra Space Storage were worth $1,486,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of EXR. Creekmur Asset Management LLC bought a new position in Extra Space Storage during the fourth quarter valued at about $26,000. Wellington Management Group LLP lifted its holdings in shares of Extra Space Storage by 25.8% during the fourth quarter. Wellington Management Group LLP now owns 2,199,347 shares of the real estate investment trust’s stock valued at $352,621,000 after purchasing an additional 451,242 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in shares of Extra Space Storage during the fourth quarter valued at $6,010,000. GAMMA Investing LLC lifted its holdings in shares of Extra Space Storage by 32.2% during the first quarter. GAMMA Investing LLC now owns 1,051 shares of the real estate investment trust’s stock valued at $154,000 after purchasing an additional 256 shares during the last quarter. Finally, Tompkins Financial Corp purchased a new stake in shares of Extra Space Storage during the first quarter valued at $96,000. Institutional investors own 99.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Jefferies Financial Group raised Extra Space Storage from a “hold” rating to a “buy” rating and upped their target price for the company from $162.00 to $204.00 in a report on Wednesday, September 18th. Scotiabank upped their target price on Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a report on Thursday, August 22nd. Bank of America downgraded Extra Space Storage from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $172.00 to $155.00 in a report on Monday, August 5th. Evercore ISI reduced their price objective on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a research note on Monday. Finally, Raymond James increased their price objective on Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Extra Space Storage presently has a consensus rating of “Hold” and an average target price of $170.80.

Extra Space Storage Stock Performance

Shares of NYSE EXR opened at $171.13 on Wednesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.20 and a current ratio of 0.20. The firm has a market cap of $36.23 billion, a price-to-earnings ratio of 38.11, a P/E/G ratio of 6.47 and a beta of 0.86. The business’s 50-day simple moving average is $173.99 and its 200-day simple moving average is $158.56. Extra Space Storage Inc. has a 52 week low of $101.19 and a 52 week high of $184.87.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend was Monday, September 16th. Extra Space Storage’s dividend payout ratio is 144.32%.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the transaction, the chief executive officer now owns 24,190 shares of the company’s stock, valued at approximately $4,318,398.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Extra Space Storage news, Director Kenneth M. Woolley sold 6,647 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $177.23, for a total value of $1,178,047.81. Following the sale, the director now owns 404,306 shares of the company’s stock, valued at $71,655,152.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total value of $1,338,900.00. Following the completion of the sale, the chief executive officer now directly owns 24,190 shares in the company, valued at $4,318,398.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,970 shares of company stock valued at $3,367,307. Insiders own 1.36% of the company’s stock.

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.