Vanguard Group Inc. Has $5.04 Billion Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Vanguard Group Inc. boosted its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 0.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,673,929 shares of the real estate investment trust’s stock after buying an additional 66,767 shares during the period. Vanguard Group Inc. owned approximately 15.89% of Extra Space Storage worth $5,037,620,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. LPL Financial LLC grew its stake in Extra Space Storage by 6.0% in the fourth quarter. LPL Financial LLC now owns 110,870 shares of the real estate investment trust’s stock valued at $16,586,000 after purchasing an additional 6,305 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Extra Space Storage in the fourth quarter valued at about $10,753,000. Mizuho Securities USA LLC grew its stake in Extra Space Storage by 46.2% in the fourth quarter. Mizuho Securities USA LLC now owns 20,091 shares of the real estate investment trust’s stock valued at $3,006,000 after purchasing an additional 6,349 shares in the last quarter. Blueshift Asset Management LLC purchased a new position in Extra Space Storage in the fourth quarter valued at about $563,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Extra Space Storage by 36.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 113,117 shares of the real estate investment trust’s stock valued at $16,922,000 after purchasing an additional 30,393 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the transaction, the chief executive officer now owns 16,690 shares of the company’s stock, valued at $2,470,286.90. This represents a 31.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph J. Bonner sold 672 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $149.10, for a total value of $100,195.20. Following the completion of the transaction, the director now directly owns 4,557 shares of the company’s stock, valued at approximately $679,448.70. This trade represents a 12.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,392 shares of company stock valued at $1,396,515 in the last quarter. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Price Performance

Shares of NYSE:EXR opened at $143.92 on Monday. The business has a 50 day moving average price of $152.76 and a 200 day moving average price of $160.95. Extra Space Storage Inc. has a twelve month low of $131.02 and a twelve month high of $184.87. The company has a market cap of $30.51 billion, a price-to-earnings ratio of 37.67, a PEG ratio of 7.76 and a beta of 0.90. 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 (NYSE:EXR) last announced its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.93. The firm had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. Research analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $1.62 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.50%. Extra Space Storage’s dividend payout ratio (DPR) is 160.40%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wells Fargo & Company lowered their target price on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Friday, February 21st. Scotiabank lowered their target price on Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 5th. Barclays decreased their price target on Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Royal Bank of Canada decreased their price target on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Finally, Truist Financial upped their price target on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $171.09.

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.