Stephens Inc. AR Lowers Holdings in Extra Space Storage Inc (NYSE:EXR)

Stephens Inc. AR decreased its holdings in Extra Space Storage Inc (NYSE:EXR) by 9.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,414 shares of the real estate investment trust’s stock after selling 156 shares during the quarter. Stephens Inc. AR’s holdings in Extra Space Storage were worth $210,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in EXR. Cohen & Steers Inc. lifted its stake in Extra Space Storage by 5.9% in the fourth quarter. Cohen & Steers Inc. now owns 9,246,133 shares of the real estate investment trust’s stock worth $1,383,094,000 after acquiring an additional 516,941 shares during the last quarter. Norges Bank purchased a new position in Extra Space Storage in the fourth quarter worth approximately $938,647,000. Dimensional Fund Advisors LP lifted its stake in Extra Space Storage by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,136,640 shares of the real estate investment trust’s stock worth $469,229,000 after acquiring an additional 24,533 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Extra Space Storage by 3.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,064,970 shares of the real estate investment trust’s stock worth $458,520,000 after acquiring an additional 104,986 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Extra Space Storage by 48.7% in the fourth quarter. Northern Trust Corp now owns 2,875,049 shares of the real estate investment trust’s stock worth $430,107,000 after acquiring an additional 941,212 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $150.35, for a total transaction of $1,127,625.00. Following the sale, the chief executive officer directly owned 27,260 shares in the company, valued at approximately $4,098,541. The trade was a 21.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.96% of the company’s stock.

Extra Space Storage Stock Performance

Shares of EXR opened at $148.07 on Monday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.33 and a current ratio of 0.33. The stock has a market capitalization of $31.42 billion, a P/E ratio of 34.36, a P/E/G ratio of 3.59 and a beta of 1.10. The company’s fifty day moving average is $148.92 and its two-hundred day moving average is $148.38. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $184.87.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.04. The company had revenue of $820.00 million for the quarter, compared to analysts’ expectations of $705.12 million. Extra Space Storage had a net margin of 27.84% and a return on equity of 6.11%. Extra Space Storage’s revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.96 EPS. On average, sell-side analysts predict that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $6.48 annualized dividend and a dividend yield of 4.38%. Extra Space Storage’s payout ratio is currently 150.35%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EXR. Barclays decreased their price target on shares of Extra Space Storage from $181.00 to $178.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. JPMorgan Chase & Co. boosted their price objective on shares of Extra Space Storage from $160.00 to $162.00 and gave the stock a “neutral” rating in a research report on Friday, June 13th. Scotiabank boosted their price objective on shares of Extra Space Storage from $149.00 to $166.00 and gave the stock a “sector outperform” rating in a research report on Monday, May 12th. Evercore ISI boosted their price objective on shares of Extra Space Storage from $144.00 to $149.00 and gave the stock an “in-line” rating in a research report on Thursday, May 1st. Finally, Royal Bank Of Canada reduced their price objective on shares of Extra Space Storage from $163.00 to $160.00 and set a “sector perform” rating for the company in a research report on Thursday, May 1st. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Extra Space Storage currently has an average rating of “Hold” and a consensus price target of $159.29.

Extra Space Storage Company 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.