Extra Space Storage Inc. (NYSE:EXR) Shares Sold by First Eagle Investment Management LLC

First Eagle Investment Management LLC lowered its holdings in Extra Space Storage Inc. (NYSE:EXR) by 0.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,640,975 shares of the real estate investment trust’s stock after selling 6,261 shares during the quarter. First Eagle Investment Management LLC owned 0.78% of Extra Space Storage worth $255,024,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in EXR. Blair William & Co. IL purchased a new stake in Extra Space Storage during the second quarter worth $221,000. Elo Mutual Pension Insurance Co boosted its position in shares of Extra Space Storage by 7.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 20,720 shares of the real estate investment trust’s stock worth $3,220,000 after buying an additional 1,447 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of Extra Space Storage by 16.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 16,844 shares of the real estate investment trust’s stock worth $2,396,000 after buying an additional 2,438 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in Extra Space Storage by 8.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 3,599 shares of the real estate investment trust’s stock valued at $568,000 after acquiring an additional 270 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. increased its holdings in Extra Space Storage by 6.8% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,402 shares of the real estate investment trust’s stock valued at $840,000 after acquiring an additional 342 shares in the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Barclays increased their price target on shares of Extra Space Storage from $158.00 to $188.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Citigroup dropped their price target on 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. Raymond James upped 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. Jefferies Financial Group raised Extra Space Storage from a “hold” rating to a “buy” rating and increased their price objective for the company from $162.00 to $204.00 in a research note on Wednesday. Finally, Bank of America lowered shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $172.00 to $155.00 in a report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $170.93.

Extra Space Storage Trading Up 1.6 %

Shares of EXR opened at $181.65 on Thursday. Extra Space Storage Inc. has a twelve month low of $101.19 and a twelve month high of $184.87. The firm has a market capitalization of $38.46 billion, a P/E ratio of 40.46, a price-to-earnings-growth ratio of 2.56 and a beta of 0.86. 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 $169.24 and its 200 day simple moving average is $154.28.

Extra Space Storage Announces Dividend

The company also recently disclosed 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. This represents a $6.48 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend is Monday, September 16th. Extra Space Storage’s dividend payout ratio is currently 144.32%.

Insider Transactions at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 31,690 shares in the company, valued at $4,835,260.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Extra Space Storage news, EVP William N. Springer sold 2,000 shares of the firm’s 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 transaction, the executive vice president now directly owns 11,919 shares of the company’s stock, valued at $2,089,758.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $152.58, for a total value of $1,144,350.00. Following the transaction, the chief executive officer now 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 sold 18,970 shares of company stock worth $3,172,757. 1.36% of the stock is currently 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.