O Shaughnessy Asset Management LLC Has $2.19 Million Position in Extra Space Storage Inc. (NYSE:EXR)

O Shaughnessy Asset Management LLC lessened its holdings in Extra Space Storage Inc. (NYSE:EXR) by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,654 shares of the real estate investment trust’s stock after selling 182 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Extra Space Storage were worth $2,192,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp increased its holdings in Extra Space Storage by 1.7% during the 3rd quarter. State Street Corp now owns 13,390,830 shares of the real estate investment trust’s stock valued at $2,412,894,000 after purchasing an additional 227,006 shares in the last quarter. Norges Bank acquired a new position in Extra Space Storage during the 4th quarter valued at about $938,647,000. Charles Schwab Investment Management Inc. lifted its holdings in Extra Space Storage by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,409,330 shares of the real estate investment trust’s stock valued at $360,436,000 after buying an additional 43,223 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of Extra Space Storage by 5.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,127,067 shares of the real estate investment trust’s stock worth $318,209,000 after purchasing an additional 106,608 shares during the last quarter. Finally, Boston Partners boosted its holdings in Extra Space Storage by 5.9% during the fourth quarter. Boston Partners now owns 1,466,816 shares of the real estate investment trust’s stock worth $219,437,000 after buying an additional 82,104 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the completion of the transaction, the chief executive officer now directly owns 9,190 shares of the company’s stock, valued at $1,355,065.50. The trade was a 44.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP William N. Springer sold 1,220 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $152.66, for a total transaction of $186,245.20. Following the completion of the transaction, the executive vice president now directly owns 20,158 shares in the company, valued at $3,077,320.28. The trade was a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,392 shares of company stock worth $1,392,315. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Down 4.2 %

EXR stock opened at $138.05 on Friday. 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 $29.27 billion, a price-to-earnings ratio of 36.14, a P/E/G 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. The business has a 50 day moving average price of $151.74 and a two-hundred day moving average price of $159.02.

Extra Space Storage (NYSE:EXR) last released 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. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business had revenue of $821.90 million during the quarter, compared to analysts’ expectations of $707.34 million. 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 was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $1.62 dividend. The ex-dividend date was Friday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.69%. Extra Space Storage’s dividend payout ratio (DPR) is currently 160.40%.

Wall Street Analysts Forecast Growth

EXR has been the subject of several research analyst reports. The Goldman Sachs Group reissued a “buy” rating on shares of Extra Space Storage in a report on Thursday, March 6th. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Barclays lowered their target price on Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. Royal Bank of Canada cut their price target on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. Finally, Scotiabank decreased their price objective on Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating for the company in a report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Extra Space Storage presently has an average rating of “Hold” and an average target price 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.