Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Uniplan Investment Counsel Inc.

Uniplan Investment Counsel Inc. decreased its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 164,643 shares of the real estate investment trust’s stock after selling 3,537 shares during the quarter. Extra Space Storage makes up 2.3% of Uniplan Investment Counsel Inc.’s investment portfolio, making the stock its 12th biggest holding. Uniplan Investment Counsel Inc. owned approximately 0.08% of Extra Space Storage worth $24,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in EXR. Cohen & Steers Inc. increased its position in Extra Space Storage by 5.9% during the fourth quarter. Cohen & Steers Inc. now owns 9,246,133 shares of the real estate investment trust’s stock worth $1,383,094,000 after buying an additional 516,941 shares during the period. Norges Bank acquired a new position in shares of Extra Space Storage in the fourth quarter valued at approximately $938,647,000. Dimensional Fund Advisors LP raised its stake in shares of Extra Space Storage by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,136,640 shares of the real estate investment trust’s stock worth $469,229,000 after purchasing an additional 24,533 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Extra Space Storage by 3.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,064,970 shares of the real estate investment trust’s stock valued at $458,520,000 after acquiring an additional 104,986 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Extra Space Storage by 3.5% in the 4th quarter. Invesco Ltd. now owns 2,575,742 shares of the real estate investment trust’s stock valued at $385,331,000 after purchasing an additional 87,354 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Stock Performance

NYSE:EXR opened at $138.31 on Tuesday. Extra Space Storage Inc. has a 1 year low of $121.03 and a 1 year high of $184.87. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $29.35 billion, a PE ratio of 36.21, a PEG ratio of 7.76 and a beta of 0.96. The firm’s fifty day simple moving average is $146.59 and its 200 day simple moving average is $154.91.

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

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.69%. The ex-dividend date was Friday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is presently 160.40%.

Analyst Upgrades and Downgrades

EXR has been the subject of a number of research analyst reports. Mizuho started coverage on shares of Extra Space Storage in a report on Wednesday, April 9th. They issued an “outperform” rating and a $141.00 target price for the company. Barclays dropped their price objective 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. StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Friday, March 7th. Royal Bank of Canada decreased their target price on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Extra Space Storage in a report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Extra Space Storage presently has a consensus rating of “Hold” and an average price target of $167.25.

Insiders Place Their Bets

In other news, 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. This represents a 5.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm’s 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. This represents a 44.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,392 shares of company stock valued at $1,392,315. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Company 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.