Legal & General Group Plc Sells 67,111 Shares of Extra Space Storage Inc. (NYSE:EXR)

Legal & General Group Plc lowered its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 2.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,833,469 shares of the real estate investment trust’s stock after selling 67,111 shares during the period. Legal & General Group Plc’s holdings in Extra Space Storage were worth $440,349,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. D.A. Davidson & CO. purchased a new stake in shares of Extra Space Storage in the 4th quarter worth approximately $207,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of Extra Space Storage by 3.7% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 20,636 shares of the real estate investment trust’s stock worth $3,309,000 after acquiring an additional 745 shares during the last quarter. Orion Portfolio Solutions LLC increased its holdings in shares of Extra Space Storage by 4.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 7,246 shares of the real estate investment trust’s stock valued at $1,158,000 after acquiring an additional 295 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Extra Space Storage by 8.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,498 shares of the real estate investment trust’s stock worth $1,042,000 after purchasing an additional 490 shares during the last quarter. Finally, Stifel Financial Corp raised its position in shares of Extra Space Storage by 12.5% in the 4th quarter. Stifel Financial Corp now owns 138,054 shares of the real estate investment trust’s stock worth $22,136,000 after purchasing an additional 15,334 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Transactions at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Monday, July 1st. The stock was sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the transaction, the chief executive officer now directly owns 31,690 shares in the company, valued at $4,835,260.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the sale, the chief executive officer now owns 31,690 shares in the company, valued at approximately $4,835,260.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 completion of the transaction, the executive vice president now owns 32,855 shares of the company’s stock, valued at $5,815,663.55. The disclosure for this sale can be found here. Insiders sold 18,970 shares of company stock worth $3,172,757 in the last three months. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Performance

Shares of NYSE EXR opened at $177.23 on Friday. Extra Space Storage Inc. has a 12-month low of $101.19 and a 12-month high of $184.87. The firm has a market capitalization of $37.52 billion, a price-to-earnings ratio of 39.47, a price-to-earnings-growth ratio of 2.67 and a beta of 0.86. 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 firm has a 50 day moving average of $171.25 and a 200 day moving average of $155.65.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $1.62 dividend. The ex-dividend date is Monday, September 16th. This represents a $6.48 annualized dividend and a dividend yield of 3.66%. Extra Space Storage’s dividend payout ratio (DPR) is 144.32%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on EXR shares. Bank of America lowered shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $172.00 to $155.00 in a research note on Monday, August 5th. Raymond James raised their price target on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Citigroup lowered their price objective on Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Wells Fargo & Company lifted 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. Finally, Royal Bank of Canada began coverage on Extra Space Storage in a report on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Extra Space Storage has an average rating of “Hold” and an average target price of $170.93.

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.