Rockefeller Capital Management L.P. Decreases Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Rockefeller Capital Management L.P. reduced its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 8.6% during the third quarter, HoldingsChannel.com reports. The fund owned 20,851 shares of the real estate investment trust’s stock after selling 1,974 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Extra Space Storage were worth $3,750,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of EXR. EdgeRock Capital LLC bought a new position in shares of Extra Space Storage during the 2nd quarter valued at approximately $25,000. Centerpoint Advisors LLC purchased a new position in Extra Space Storage in the second quarter valued at approximately $27,000. Ashton Thomas Securities LLC purchased a new stake in Extra Space Storage in the third quarter worth $33,000. Harvest Fund Management Co. Ltd purchased a new stake in Extra Space Storage in the third quarter worth $42,000. Finally, Blue Trust Inc. raised its stake in shares of Extra Space Storage by 540.5% in the second quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Scotiabank decreased their price objective on Extra Space Storage from $169.00 to $167.00 and set a “sector underperform” rating for the company in a report on Monday, November 25th. Jefferies Financial Group upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and lifted their target price for the stock from $162.00 to $204.00 in a research note on Wednesday, September 18th. Royal Bank of Canada started coverage on shares of Extra Space Storage in a research note on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 price target on the stock. Wells Fargo & Company reiterated an “equal weight” rating and issued a $175.00 price objective on shares of Extra Space Storage in a research note on Monday, October 21st. Finally, StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $171.43.

Insider Buying and Selling

In other Extra Space Storage news, Director Kenneth M. Woolley sold 6,647 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $177.23, for a total value of $1,178,047.81. Following the completion of the sale, the director now owns 404,306 shares of the company’s stock, valued at $71,655,152.38. This represents a 1.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Diane Olmstead sold 3,081 shares of Extra Space Storage stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $164.56, for a total transaction of $507,009.36. Following the transaction, the director now directly owns 5,877 shares in the company, valued at $967,119.12. This trade represents a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,228 shares of company stock worth $3,023,957. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $163.64 on Friday. The business has a 50-day simple moving average of $168.43 and a 200 day simple moving average of $164.72. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87. The stock has a market cap of $34.69 billion, a price-to-earnings ratio of 42.84, a PEG ratio of 8.33 and a beta of 0.89. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($1.12). Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company had revenue of $824.80 million during the quarter, compared to the consensus estimate of $826.93 million. During the same quarter last year, the company posted $2.02 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, research analysts forecast that Extra Space Storage Inc. will post 8.09 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend is Monday, December 16th. Extra Space Storage’s dividend payout ratio is currently 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.