Massachusetts Financial Services Co. MA Purchases 157,763 Shares of Extra Space Storage Inc. (NYSE:EXR)

Massachusetts Financial Services Co. MA raised its position in Extra Space Storage Inc. (NYSE:EXR) by 4.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,549,231 shares of the real estate investment trust’s stock after purchasing an additional 157,763 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.68% of Extra Space Storage worth $551,586,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Extra Space Storage by 0.5% during 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 acquiring an additional 170,380 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in shares of Extra Space Storage by 7.2% during 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 buying an additional 198,888 shares during the last quarter. Centersquare Investment Management LLC lifted its stake in shares of 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 worth $341,941,000 after buying an additional 32,591 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Extra Space Storage by 25.8% during the 4th quarter. Wellington Management Group LLP now owns 2,199,347 shares of the real estate investment trust’s stock worth $352,621,000 after buying an additional 451,242 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Extra Space Storage by 43.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,557,135 shares of the real estate investment trust’s stock worth $228,899,000 after buying an additional 473,559 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Insider Transactions at Extra Space Storage

In other news, Director Kenneth M. Woolley sold 6,647 shares of the company’s stock in a transaction on 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 sale, the director now owns 404,306 shares in the company, valued at approximately $71,655,152.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Kenneth M. Woolley sold 6,647 shares of the company’s stock in a transaction on 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 sale, the director now owns 404,306 shares in the company, valued at approximately $71,655,152.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gwyn Goodson Mcneal sold 2,823 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 32,855 shares of the company’s stock, valued at approximately $5,815,663.55. The disclosure for this sale can be found here. Insiders sold a total of 18,970 shares of company stock worth $3,172,757 in the last quarter. 1.36% of the stock is currently owned by corporate insiders.

Extra Space Storage Stock Performance

Shares of EXR stock opened at $177.63 on Tuesday. The firm has a market capitalization of $37.61 billion, a PE ratio of 39.56, a price-to-earnings-growth ratio of 2.56 and a beta of 0.86. The firm has a fifty day simple moving average of $168.17 and a two-hundred day simple moving average of $153.83. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.76. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $179.23.

Extra Space Storage Dividend Announcement

The company also recently announced 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 3.65%. Extra Space Storage’s payout ratio is 144.32%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on EXR shares. Scotiabank lifted 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. Royal Bank of Canada began coverage on shares of 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. Evercore ISI lifted their target price on shares of Extra Space Storage from $167.00 to $170.00 and gave the stock an “in-line” rating in a research report on Monday. StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, Barclays boosted their price target 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. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $168.57.

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.