DekaBank Deutsche Girozentrale Buys 12,789 Shares of Extra Space Storage Inc. (NYSE:EXR)

DekaBank Deutsche Girozentrale raised its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 11.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 126,764 shares of the real estate investment trust’s stock after purchasing an additional 12,789 shares during the period. DekaBank Deutsche Girozentrale owned 0.06% of Extra Space Storage worth $19,633,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. American Century Companies Inc. grew its holdings in Extra Space Storage by 543.5% during the second quarter. American Century Companies Inc. now owns 397,170 shares of the real estate investment trust’s stock valued at $61,724,000 after purchasing an additional 335,447 shares during the period. HHM Wealth Advisors LLC lifted its position in shares of Extra Space Storage by 830.1% in the second quarter. HHM Wealth Advisors LLC now owns 772 shares of the real estate investment trust’s stock valued at $120,000 after acquiring an additional 689 shares in the last quarter. Chesapeake Capital Corp IL purchased a new position in shares of Extra Space Storage in the second quarter valued at about $511,000. Royal London Asset Management Ltd. lifted its position in shares of Extra Space Storage by 1.1% in the second quarter. Royal London Asset Management Ltd. now owns 83,229 shares of the real estate investment trust’s stock valued at $12,935,000 after acquiring an additional 892 shares in the last quarter. Finally, Global X Japan Co. Ltd. purchased a new position in shares of Extra Space Storage in the second quarter valued at about $78,000. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Price Performance

NYSE:EXR opened at $177.90 on Monday. The firm has a market capitalization of $37.70 billion, a price-to-earnings ratio of 39.62, a PEG ratio of 2.56 and a beta of 0.86. Extra Space Storage Inc. has a 1 year low of $101.19 and a 1 year high of $179.23. The business has a 50 day simple moving average of $167.71 and a 200-day simple moving average of $153.58. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.20 and a quick ratio of 0.20.

Extra Space Storage Announces Dividend

The business 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 3.64%. The ex-dividend date of this dividend is Monday, September 16th. Extra Space Storage’s payout ratio is 144.32%.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 31,690 shares of the company’s stock, valued at approximately $4,835,260.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $177.01, for a total value of $499,699.23. Following the sale, the executive vice president now directly owns 32,855 shares in the company, valued at $5,815,663.55. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 31,690 shares in the company, valued at $4,835,260.20. The disclosure for this sale can be found here. Insiders sold 12,323 shares of company stock valued at $1,994,709 in the last ninety days. Insiders own 1.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EXR. Bank of America downgraded Extra Space Storage from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $172.00 to $155.00 in a research report on Monday, August 5th. Royal Bank of Canada began coverage on Extra Space Storage in a research report on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 price objective on the stock. Citigroup lowered their price objective on Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. KeyCorp boosted their target price on Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Finally, Barclays boosted their target price on Extra Space Storage from $158.00 to $188.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Extra Space Storage presently has an average rating of “Hold” and a consensus price target of $168.36.

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.