Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. decreased its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 10.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,657 shares of the real estate investment trust’s stock after selling 760 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Extra Space Storage were worth $1,035,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in EXR. Vanguard Group Inc. boosted its holdings in 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 buying an additional 170,380 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Extra Space Storage by 4.7% in 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 purchasing an additional 157,763 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Extra Space Storage by 1.5% during the second 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 acquiring an additional 45,717 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position in 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 purchasing an additional 198,888 shares during the period. Finally, Centersquare Investment Management LLC lifted its stake in 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 acquiring an additional 32,591 shares in the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Scotiabank raised their price target on shares of Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a research report on Thursday, August 22nd. Truist Financial upped their price objective on shares of Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a research note on Friday, August 16th. Raymond James upped 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. Barclays lifted their target price on Extra Space Storage from $158.00 to $188.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Citigroup reduced their price objective on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Extra Space Storage currently has a consensus rating of “Hold” and an average target price of $170.93.

Extra Space Storage Stock Performance

NYSE EXR opened at $176.31 on Friday. The stock has a market cap of $37.33 billion, a price-to-earnings ratio of 39.27, a price-to-earnings-growth ratio of 2.67 and a beta of 0.86. The business has a fifty day moving average of $172.66 and a 200-day moving average of $156.76. Extra Space Storage Inc. has a fifty-two week low of $101.19 and a fifty-two week high of $184.87. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.76.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.68%. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.32%.

Insider Transactions at Extra Space Storage

In related news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $177.01, for a total transaction of $499,699.23. Following the transaction, the executive vice president now owns 32,855 shares of the company’s stock, valued at $5,815,663.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Extra Space Storage 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 in the company, valued at approximately $4,318,398.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, the executive vice president now directly 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 $3,367,307 over the last ninety days. 1.36% of the stock is currently owned by corporate insiders.

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.