Robeco Institutional Asset Management B.V. Sells 33,420 Shares of Extra Space Storage Inc. (NYSE:EXR)

Robeco Institutional Asset Management B.V. lowered its position in Extra Space Storage Inc. (NYSE:EXR) by 23.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 111,175 shares of the real estate investment trust’s stock after selling 33,420 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Extra Space Storage were worth $20,033,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Extra Space Storage by 0.5% in the first quarter. Vanguard Group Inc. now owns 33,686,389 shares of the real estate investment trust’s stock worth $4,951,899,000 after purchasing an additional 170,380 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in 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 worth $551,586,000 after buying an additional 157,763 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Extra Space Storage by 1.5% in 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 during the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of Extra Space Storage by 7.2% in the second quarter. Diamond Hill Capital Management Inc. now owns 2,965,638 shares of the real estate investment trust’s stock valued at $460,890,000 after buying an additional 198,888 shares during the period. Finally, Centersquare Investment Management LLC raised its position in shares of Extra Space Storage by 1.3% during the first quarter. Centersquare Investment Management LLC now owns 2,546,475 shares of the real estate investment trust’s stock worth $341,941,000 after acquiring an additional 32,591 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Insider Activity

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the completion of the transaction, the chief executive officer now directly owns 24,190 shares of the company’s stock, valued at approximately $4,318,398.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total value of $1,338,900.00. Following the completion of the sale, the chief executive officer now owns 24,190 shares of the company’s stock, valued at approximately $4,318,398.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $1,178,047.81. Following the sale, the director now directly owns 404,306 shares in the company, valued at approximately $71,655,152.38. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,970 shares of company stock valued at $3,367,307 in the last three months. Company insiders own 1.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Scotiabank upped their price objective on shares of Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a research note on Thursday, August 22nd. Truist Financial upped their price target on shares of Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Wells Fargo & Company reissued an “equal weight” rating and issued a $175.00 price objective on shares of Extra Space Storage in a research report on Monday, October 21st. Evercore ISI cut their target price on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a research report on Monday, October 14th. Finally, KeyCorp lifted their target price on Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $171.07.

Extra Space Storage Stock Down 4.5 %

EXR opened at $161.03 on Thursday. Extra Space Storage Inc. has a fifty-two week low of $104.88 and a fifty-two week high of $184.87. The firm has a market capitalization of $34.13 billion, a P/E ratio of 42.15, a PEG ratio of 6.06 and a beta of 0.87. The company’s 50-day moving average is $173.03 and its 200 day moving average is $161.17. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.20.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing the consensus estimate of $2.03 by ($1.12). The firm had revenue of $824.80 million for the quarter, compared to the consensus estimate of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. Extra Space Storage’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.02 EPS. Research analysts expect that Extra Space Storage Inc. will post 8.08 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date was Monday, September 16th. Extra Space Storage’s payout ratio is 169.63%.

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.