Extra Space Storage Inc. (NYSE:EXR) Position Increased by Principal Securities Inc.

Principal Securities Inc. increased its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 16.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,034 shares of the real estate investment trust’s stock after buying an additional 429 shares during the quarter. Principal Securities Inc.’s holdings in Extra Space Storage were worth $454,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of EXR. Pathway Financial Advisers LLC raised its holdings in shares of Extra Space Storage by 17,832.9% during the third quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust’s stock worth $363,783,000 after acquiring an additional 2,007,626 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Extra Space Storage by 724.1% during the third 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 valued at $357,100,000 after buying an additional 1,741,320 shares in the last quarter. Manning & Napier Advisors LLC raised its holdings in Extra Space Storage by 1,127.2% during the fourth quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust’s stock valued at $116,985,000 after buying an additional 718,266 shares in the last quarter. Mizuho Securities USA LLC raised its holdings in Extra Space Storage by 1,664.3% during the third quarter. Mizuho Securities USA LLC now owns 288,094 shares of the real estate investment trust’s stock valued at $51,912,000 after buying an additional 271,765 shares in the last quarter. Finally, Hamlin Capital Management LLC raised its holdings in Extra Space Storage by 44.8% during the third quarter. Hamlin Capital Management LLC now owns 766,043 shares of the real estate investment trust’s stock valued at $138,033,000 after buying an additional 236,908 shares in the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Extra Space Storage Stock Down 0.1 %

EXR stock opened at $155.85 on Friday. Extra Space Storage Inc. has a twelve month low of $131.02 and a twelve month high of $184.87. The company has a market cap of $33.04 billion, a PE ratio of 40.80, a price-to-earnings-growth ratio of 7.65 and a beta of 0.91. The business’s 50-day simple moving average is $151.65 and its 200 day simple moving average is $163.74. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.16%. Extra Space Storage’s dividend payout ratio (DPR) is presently 169.63%.

Analysts Set New Price Targets

Several research firms have weighed in on EXR. Scotiabank upgraded Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 target price on the stock in a report on Friday, January 10th. Wells Fargo & Company cut their target price on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday. StockNews.com upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Barclays cut their target price on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Finally, Truist Financial raised their price target on Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $173.09.

Insider Buying and Selling

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the sale, the chief executive officer now directly owns 16,690 shares of the company’s stock, valued at $2,470,286.90. This trade represents a 31.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.