Boston Partners Purchases 82,104 Shares of Extra Space Storage Inc. (NYSE:EXR)

Boston Partners grew its stake in Extra Space Storage Inc. (NYSE:EXR) by 5.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,466,816 shares of the real estate investment trust’s stock after buying an additional 82,104 shares during the period. Boston Partners’ holdings in Extra Space Storage were worth $219,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of EXR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Extra Space Storage by 724.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust’s stock worth $357,100,000 after purchasing an additional 1,741,320 shares during the last quarter. Manning & Napier Advisors LLC grew its position in Extra Space Storage by 1,127.2% in the 4th quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust’s stock worth $116,985,000 after purchasing an additional 718,266 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC grew its position in Extra Space Storage by 91.2% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,089,753 shares of the real estate investment trust’s stock worth $163,027,000 after purchasing an additional 519,934 shares during the last quarter. Amundi grew its position in Extra Space Storage by 82.0% in the 4th quarter. Amundi now owns 828,644 shares of the real estate investment trust’s stock worth $122,649,000 after purchasing an additional 373,274 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Extra Space Storage in the 4th quarter worth $46,120,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Price Performance

NYSE:EXR opened at $147.85 on Wednesday. The firm has a market cap of $31.34 billion, a PE ratio of 38.70, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90. Extra Space Storage Inc. has a 12 month low of $131.02 and a 12 month high of $184.87. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The company’s 50-day moving average price is $152.88 and its two-hundred day moving average price is $161.60.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.93. The firm had revenue of $821.90 million for the quarter, compared to analyst estimates of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. On average, equities analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date is Friday, March 14th. Extra Space Storage’s dividend payout ratio is presently 160.40%.

Wall Street Analyst Weigh In

EXR has been the topic of several research analyst reports. Barclays decreased their price target on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. The Goldman Sachs Group reiterated a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Royal Bank of Canada decreased their target price on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Finally, Truist Financial lifted their target price on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Extra Space Storage presently has a consensus rating of “Hold” and a consensus target price of $171.09.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the transaction, the chief executive officer now directly owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. The trade was a 31.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP William N. Springer sold 1,220 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following the completion of the transaction, the executive vice president now directly owns 20,158 shares of the company’s stock, valued at approximately $3,077,320.28. This represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,392 shares of company stock valued at $1,396,515. Insiders own 1.36% of the company’s stock.

Extra Space Storage 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.