Royal London Asset Management Ltd. Acquires 892 Shares of Extra Space Storage Inc. (NYSE:EXR)

Royal London Asset Management Ltd. increased its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,229 shares of the real estate investment trust’s stock after acquiring an additional 892 shares during the period. Royal London Asset Management Ltd.’s holdings in Extra Space Storage were worth $12,935,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of EXR. Principal Securities Inc. bought a new position in Extra Space Storage in the 4th quarter valued at $368,000. QRG Capital Management Inc. bought a new position in Extra Space Storage in the 4th quarter valued at $242,000. Janney Montgomery Scott LLC boosted its position in Extra Space Storage by 33.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 86,413 shares of the real estate investment trust’s stock valued at $13,855,000 after buying an additional 21,574 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in Extra Space Storage by 2.1% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 12,164 shares of the real estate investment trust’s stock valued at $1,950,000 after buying an additional 250 shares during the last quarter. Finally, Beacon Pointe Advisors LLC boosted its position in Extra Space Storage by 21.2% in the 4th quarter. Beacon Pointe Advisors LLC now owns 2,130 shares of the real estate investment trust’s stock valued at $341,000 after buying an additional 373 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Raymond James increased their price objective on Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Citigroup cut their price target on Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, June 7th. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Wells Fargo & Company increased their price target on Extra Space Storage from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Scotiabank increased their price target on 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. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Extra Space Storage currently has a consensus rating of “Hold” and a consensus target price of $168.36.

Extra Space Storage Stock Performance

Shares of Extra Space Storage stock opened at $177.30 on Friday. The company has a market capitalization of $37.54 billion, a PE ratio of 39.49, a PEG ratio of 2.53 and a beta of 0.86. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $179.23. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.76. The stock’s fifty day simple moving average is $167.24 and its 200 day simple moving average is $153.11.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.65%. The ex-dividend date is Monday, September 16th. Extra Space Storage’s payout ratio is presently 144.32%.

Insider Buying and Selling

In other Extra Space Storage news, EVP William N. Springer sold 2,000 shares of Extra Space Storage stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total value of $350,660.00. Following the sale, the executive vice president now owns 11,919 shares of the company’s stock, valued at approximately $2,089,758.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Extra Space Storage news, EVP William N. Springer sold 2,000 shares of Extra Space Storage stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total value of $350,660.00. Following the sale, the executive vice president now owns 11,919 shares of the company’s stock, valued at approximately $2,089,758.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $152.58, for a total value of $1,144,350.00. Following the completion of the sale, the chief executive officer now directly owns 31,690 shares in the company, valued at approximately $4,835,260.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,323 shares of company stock valued at $1,994,709. 1.36% of the stock is owned by company 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.