Millennium Management LLC Purchases 151,368 Shares of Extra Space Storage Inc. (NYSE:EXR)

Millennium Management LLC raised its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 42.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 505,208 shares of the real estate investment trust’s stock after purchasing an additional 151,368 shares during the period. Millennium Management LLC owned 0.24% of Extra Space Storage worth $78,514,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Extra Space Storage by 0.5% during 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. Massachusetts Financial Services Co. MA raised its position in shares of Extra Space Storage by 4.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,549,231 shares of the real estate investment trust’s stock valued at $551,586,000 after buying an additional 157,763 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Extra Space Storage by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,127,012 shares of the real estate investment trust’s stock valued at $485,973,000 after buying an additional 45,717 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in Extra Space Storage by 7.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,965,638 shares of the real estate investment trust’s stock worth $460,890,000 after purchasing an additional 198,888 shares during the period. Finally, Centersquare Investment Management LLC raised its position in Extra Space Storage by 1.3% in the 1st quarter. Centersquare Investment Management LLC now owns 2,546,475 shares of the real estate investment trust’s stock worth $341,941,000 after purchasing an additional 32,591 shares during the period. Institutional investors own 99.11% of the company’s stock.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, Director Kenneth M. Woolley sold 6,647 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $177.23, for a total value of $1,178,047.81. Following the completion of the transaction, the director now owns 404,306 shares in the company, valued at $71,655,152.38. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Extra Space Storage news, Director Kenneth M. Woolley sold 6,647 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $177.23, for a total value of $1,178,047.81. Following the completion of the transaction, the director now owns 404,306 shares in the company, valued at $71,655,152.38. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP William N. Springer sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total transaction of $350,660.00. Following the completion of the transaction, the executive vice president now owns 11,919 shares of the company’s stock, valued at approximately $2,089,758.27. The disclosure for this sale can be found here. Insiders sold 11,470 shares of company stock worth $2,028,407 over the last three months. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Price Performance

Shares of EXR opened at $177.23 on Monday. The firm has a market capitalization of $37.52 billion, a PE ratio of 39.47, a price-to-earnings-growth ratio of 2.67 and a beta of 0.86. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.20 and a quick ratio of 0.20. Extra Space Storage Inc. has a 1-year low of $101.19 and a 1-year high of $184.87. The company’s fifty day moving average price is $171.51 and its 200-day moving average price is $155.88.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $6.48 dividend on an annualized basis and a yield of 3.66%. Extra Space Storage’s dividend payout ratio is presently 144.32%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. KeyCorp increased their price objective on shares of Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Barclays raised their target price on shares of Extra Space Storage from $158.00 to $188.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Evercore ISI increased their price objective on shares of Extra Space Storage from $167.00 to $170.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Scotiabank boosted their price objective on shares of Extra Space Storage from $159.00 to $169.00 and gave the stock a “sector underperform” rating in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $170.93.

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.