Extra Space Storage Inc. (NYSE:EXR) Shares Acquired by Janus Henderson Group PLC

Janus Henderson Group PLC boosted its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 1.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,117 shares of the real estate investment trust’s stock after purchasing an additional 500 shares during the quarter. Janus Henderson Group PLC’s holdings in Extra Space Storage were worth $5,246,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in EXR. Cetera Advisors LLC bought a new stake in Extra Space Storage in the 1st quarter valued at about $410,000. CWM LLC increased its stake in shares of Extra Space Storage by 5.8% in the second quarter. CWM LLC now owns 3,765 shares of the real estate investment trust’s stock valued at $585,000 after purchasing an additional 205 shares during the period. Simplicity Wealth LLC raised its holdings in shares of Extra Space Storage by 16.0% during the second quarter. Simplicity Wealth LLC now owns 1,896 shares of the real estate investment trust’s stock valued at $295,000 after buying an additional 261 shares during the last quarter. QRG Capital Management Inc. boosted its position in shares of Extra Space Storage by 28.6% during the second quarter. QRG Capital Management Inc. now owns 2,042 shares of the real estate investment trust’s stock worth $317,000 after buying an additional 454 shares during the period. Finally, Sequoia Financial Advisors LLC grew its holdings in Extra Space Storage by 18.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,397 shares of the real estate investment trust’s stock worth $372,000 after buying an additional 369 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Diane Olmstead sold 3,081 shares of Extra Space Storage stock in a transaction on Friday, November 15th. The shares were sold at an average price of $164.56, for a total value of $507,009.36. Following the completion of the sale, the director now owns 5,877 shares of the company’s stock, valued at approximately $967,119.12. The trade was a 34.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 24,190 shares of the company’s stock, valued at $4,318,398.80. This represents a 23.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,228 shares of company stock valued at $3,023,957 in the last three months. Insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Performance

Shares of Extra Space Storage stock opened at $164.56 on Tuesday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 12 month low of $131.02 and a 12 month high of $184.87. The business has a fifty day simple moving average of $167.84 and a 200-day simple moving average of $165.23. The stock has a market cap of $34.88 billion, a PE ratio of 43.08, a price-to-earnings-growth ratio of 8.23 and a beta of 0.89.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). The company had revenue of $824.80 million for the quarter, compared to analysts’ expectations of $826.93 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.02 earnings per share. On average, sell-side analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a yield of 3.94%. Extra Space Storage’s dividend payout ratio (DPR) is currently 169.63%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EXR. Jefferies Financial Group upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and increased their target price for the company from $162.00 to $204.00 in a research report on Wednesday, September 18th. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Royal Bank of Canada initiated coverage on Extra Space Storage in a research report on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 target price for the company. Barclays lifted their price target on Extra Space Storage from $188.00 to $192.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Finally, Evercore ISI dropped their price objective on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a research note on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $171.43.

Extra Space Storage 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.