Los Angeles Capital Management LLC Cuts Holdings in Extra Space Storage Inc. (NYSE:EXR)

Los Angeles Capital Management LLC trimmed its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 90.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,761 shares of the real estate investment trust’s stock after selling 16,269 shares during the period. Los Angeles Capital Management LLC’s holdings in Extra Space Storage were worth $259,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in EXR. Lake Hills Wealth Management LLC bought a new position in shares of Extra Space Storage during the 1st quarter valued at $207,000. Pensionfund DSM Netherlands raised its holdings in Extra Space Storage by 15.9% in the 1st quarter. Pensionfund DSM Netherlands now owns 21,840 shares of the real estate investment trust’s stock worth $3,210,000 after purchasing an additional 3,000 shares during the period. Nomura Holdings Inc. bought a new position in Extra Space Storage in the 4th quarter worth $6,010,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Extra Space Storage by 800,980.0% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 40,054 shares of the real estate investment trust’s stock worth $6,422,000 after purchasing an additional 40,049 shares during the period. Finally, Wellington Management Group LLP raised its holdings in Extra Space Storage by 25.8% in the 4th quarter. Wellington Management Group LLP now owns 2,199,347 shares of the real estate investment trust’s stock worth $352,621,000 after purchasing an additional 451,242 shares during the period. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Extra Space Storage Trading Down 0.8 %

EXR opened at $155.74 on Friday. The firm has a market cap of $32.97 billion, a P/E ratio of 34.69, a P/E/G ratio of 3.77 and a beta of 0.81. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $164.99. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.73. The stock has a 50-day moving average of $146.62 and a 200 day moving average of $146.72.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a $1.62 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $6.48 annualized dividend and a yield of 4.16%. Extra Space Storage’s dividend payout ratio is currently 144.32%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Barclays raised their target price on Extra Space Storage from $157.00 to $158.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, March 2nd. Raymond James reaffirmed an “outperform” rating and issued a $160.00 target price on shares of Extra Space Storage in a report on Thursday, March 28th. Evercore ISI cut their price target on Extra Space Storage from $145.00 to $139.00 in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company increased their price target on Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Extra Space Storage has an average rating of “Hold” and an average price target of $151.83.

Insider Buying and Selling

In other Extra Space Storage news, Director Joseph J. Bonner sold 677 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $148.22, for a total value of $100,344.94. Following the completion of the sale, the director now owns 5,229 shares of the company’s stock, valued at $775,042.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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.