Lincluden Management Ltd. Sells 908 Shares of Extra Space Storage Inc. (NYSE:EXR)

Lincluden Management Ltd. lessened its position in Extra Space Storage Inc. (NYSE:EXR) by 5.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,866 shares of the real estate investment trust’s stock after selling 908 shares during the quarter. Lincluden Management Ltd.’s holdings in Extra Space Storage were worth $2,523,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Brown Financial Advisors lifted its position in Extra Space Storage by 5.8% during the fourth quarter. Brown Financial Advisors now owns 9,666 shares of the real estate investment trust’s stock valued at $1,446,000 after buying an additional 532 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Extra Space Storage by 8.2% in the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 40,956 shares of the real estate investment trust’s stock worth $6,127,000 after acquiring an additional 3,100 shares in the last quarter. Navellier & Associates Inc. lifted its position in Extra Space Storage by 34.0% during the 4th quarter. Navellier & Associates Inc. now owns 3,856 shares of the real estate investment trust’s stock valued at $577,000 after acquiring an additional 979 shares during the period. Allianz Asset Management GmbH boosted its stake in Extra Space Storage by 0.7% during the fourth quarter. Allianz Asset Management GmbH now owns 168,623 shares of the real estate investment trust’s stock worth $25,226,000 after acquiring an additional 1,143 shares in the last quarter. Finally, ING Groep NV purchased a new stake in Extra Space Storage in the fourth quarter worth about $4,050,000. 99.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on EXR shares. Barclays lowered their target price on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Wells Fargo & Company lowered their price objective on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday. Scotiabank raised Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 target price on the stock in a research note on Friday, January 10th. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. Finally, Truist Financial upped their price target on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Extra Space Storage presently has an average rating of “Hold” and an average target price of $173.09.

Insider Activity

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the sale, the chief executive officer now owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. The trade was a 31.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.36% of the stock is owned by corporate insiders.

Extra Space Storage Price Performance

NYSE EXR opened at $159.14 on Tuesday. Extra Space Storage Inc. has a one year low of $131.02 and a one year high of $184.87. The stock has a 50-day moving average of $151.61 and a 200 day moving average of $163.74. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The company has a market capitalization of $33.73 billion, a price-to-earnings ratio of 41.66, a PEG ratio of 7.76 and a beta of 0.91.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $1.62 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.07%. Extra Space Storage’s dividend payout ratio is presently 169.63%.

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.