Natixis Advisors LLC Boosts Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Natixis Advisors LLC grew its position in Extra Space Storage Inc. (NYSE:EXR) by 35.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 106,593 shares of the real estate investment trust’s stock after buying an additional 27,618 shares during the quarter. Natixis Advisors LLC’s holdings in Extra Space Storage were worth $16,566,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in EXR. Vanguard Group Inc. raised its stake in Extra Space Storage by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 33,686,389 shares of the real estate investment trust’s stock valued at $4,951,899,000 after purchasing an additional 170,380 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Extra Space Storage by 8.9% in the fourth quarter. Principal Financial Group Inc. now owns 7,083,752 shares of the real estate investment trust’s stock valued at $1,135,738,000 after buying an additional 577,918 shares during the last quarter. Norges Bank purchased a new position in shares of Extra Space Storage in the fourth quarter worth about $1,022,811,000. Massachusetts Financial Services Co. MA boosted its position in Extra Space Storage by 6.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,219,030 shares of the real estate investment trust’s stock worth $516,107,000 after acquiring an additional 186,940 shares during the last quarter. Finally, Centersquare Investment Management LLC grew its stake in Extra Space Storage by 1.3% during the 1st quarter. Centersquare Investment Management LLC now owns 2,546,475 shares of the real estate investment trust’s stock valued at $341,941,000 after acquiring an additional 32,591 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Price Performance

EXR stock opened at $175.74 on Thursday. The business’s fifty day moving average price is $164.31 and its 200 day moving average price is $151.60. Extra Space Storage Inc. has a 12-month low of $101.19 and a 12-month high of $179.23. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $37.21 billion, a PE ratio of 39.14, a P/E/G ratio of 2.58 and a beta of 0.83.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $1.62 per share. The ex-dividend date is Monday, September 16th. This represents a $6.48 dividend on an annualized basis and a yield of 3.69%. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.32%.

Insider Transactions at Extra Space Storage

In related news, EVP Gwyn Goodson Mcneal sold 2,823 shares of Extra Space Storage stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $177.01, for a total value of $499,699.23. Following the completion of the transaction, the executive vice president now owns 32,855 shares in the company, valued at $5,815,663.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $152.58, for a total value of $1,144,350.00. Following the completion of the transaction, the chief executive officer now owns 31,690 shares in the company, valued at approximately $4,835,260.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gwyn Goodson Mcneal sold 2,823 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $177.01, for a total transaction of $499,699.23. Following the sale, the executive vice president now owns 32,855 shares in the company, valued at $5,815,663.55. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,000 shares of company stock valued at $2,095,054. 1.36% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Wells Fargo & Company boosted their target price on Extra Space Storage from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Truist Financial upped their target price on Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a report on Friday, August 16th. Raymond James lifted their price target on Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Barclays upped their price objective on shares of Extra Space Storage from $158.00 to $188.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, Evercore ISI lifted their target price on shares of Extra Space Storage from $166.00 to $167.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $166.58.

Extra Space Storage 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.