Extra Space Storage Inc. (NYSE:EXR) Shares Sold by APG Asset Management US Inc.

APG Asset Management US Inc. lowered its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,533,561 shares of the real estate investment trust’s stock after selling 45,052 shares during the quarter. Extra Space Storage makes up approximately 2.9% of APG Asset Management US Inc.’s holdings, making the stock its 12th biggest holding. APG Asset Management US Inc. owned approximately 1.20% of Extra Space Storage worth $379,021,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of Extra Space Storage in the fourth quarter valued at $46,120,000. APG Asset Management N.V. acquired a new stake in Extra Space Storage in the 4th quarter worth about $20,730,000. Greenland Capital Management LP grew its holdings in Extra Space Storage by 80.3% in the 4th quarter. Greenland Capital Management LP now owns 10,816 shares of the real estate investment trust’s stock valued at $1,618,000 after buying an additional 4,816 shares during the period. FIL Ltd increased its stake in shares of Extra Space Storage by 21.0% during the 4th quarter. FIL Ltd now owns 29,884 shares of the real estate investment trust’s stock valued at $4,471,000 after acquiring an additional 5,187 shares during the last quarter. Finally, Shelton Capital Management lifted its holdings in shares of Extra Space Storage by 2.1% during the 4th quarter. Shelton Capital Management now owns 17,300 shares of the real estate investment trust’s stock worth $2,588,000 after acquiring an additional 356 shares during the period. 99.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EXR has been the subject of several research analyst reports. Royal Bank of Canada dropped their price target on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. Scotiabank cut 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 report on Wednesday, March 5th. Barclays lowered their price target on Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a research report on Wednesday, March 12th. Wells Fargo & Company cut their price objective on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday, February 21st. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Extra Space Storage in a report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Extra Space Storage presently has an average rating of “Hold” and an average target price of $171.09.

Extra Space Storage Price Performance

Shares of NYSE EXR opened at $126.49 on Wednesday. The firm has a market cap of $26.84 billion, a PE ratio of 33.11, a price-to-earnings-growth ratio of 7.76 and a beta of 0.96. 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 $150.16 and a two-hundred day moving average price of $157.78. Extra Space Storage Inc. has a fifty-two week low of $118.98 and a fifty-two week high of $184.87.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, topping the consensus estimate of $1.10 by $0.93. The business had revenue of $821.90 million for the quarter, compared to analysts’ expectations of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. Sell-side analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage’s dividend payout ratio is presently 160.40%.

Insider Buying and Selling

In other Extra Space Storage news, Director Joseph J. Bonner sold 672 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $149.10, for a total transaction of $100,195.20. Following the completion of the transaction, the director now owns 4,557 shares in the company, valued at approximately $679,448.70. The trade was a 12.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total value 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 approximately $1,355,065.50. The trade was a 44.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,392 shares of company stock worth $1,392,315 over the last quarter. 1.36% of the stock is owned by company 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.