Extra Space Storage Inc. (NYSE:EXR) Stock Position Decreased by American Century Companies Inc.

American Century Companies Inc. trimmed its stake in Extra Space Storage Inc. (NYSE:EXR) by 41.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 153,772 shares of the real estate investment trust’s stock after selling 110,445 shares during the quarter. American Century Companies Inc. owned approximately 0.07% of Extra Space Storage worth $23,004,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Oregon Public Employees Retirement Fund boosted its stake in Extra Space Storage by 0.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,160 shares of the real estate investment trust’s stock worth $2,717,000 after purchasing an additional 66 shares during the period. Wedge Capital Management L L P NC lifted its holdings in shares of Extra Space Storage by 1.3% in the fourth quarter. Wedge Capital Management L L P NC now owns 5,138 shares of the real estate investment trust’s stock valued at $769,000 after purchasing an additional 68 shares in the last quarter. Lindbrook Capital LLC boosted its position in shares of Extra Space Storage by 14.9% in the fourth quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust’s stock worth $78,000 after buying an additional 68 shares during the period. Checchi Capital Advisers LLC boosted its position in shares of Extra Space Storage by 2.2% in the fourth quarter. Checchi Capital Advisers LLC now owns 3,449 shares of the real estate investment trust’s stock worth $516,000 after buying an additional 75 shares during the period. Finally, Harbour Investments Inc. raised its position in Extra Space Storage by 90.9% during the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 80 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Price Performance

NYSE EXR opened at $145.41 on Monday. Extra Space Storage Inc. has a 52-week low of $131.02 and a 52-week high of $184.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The business has a 50 day simple moving average of $152.33 and a 200 day simple moving average of $159.90. The stock has a market cap of $30.83 billion, a price-to-earnings ratio of 38.07, a PEG ratio of 7.76 and a beta of 0.90.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

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 paid a $1.62 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.46%. Extra Space Storage’s dividend payout ratio is presently 160.40%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on EXR shares. Scotiabank decreased their price objective on Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 5th. Truist Financial raised their price target on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. The Goldman Sachs Group reiterated a “buy” rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Barclays decreased their target price on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Finally, Wells Fargo & Company lowered their price target on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday, February 21st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Extra Space Storage has a consensus rating of “Hold” and a consensus price target of $171.09.

Insiders Place Their Bets

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 16,690 shares in the company, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William N. Springer sold 1,220 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $152.66, for a total value of $186,245.20. Following the completion of the sale, the executive vice president now owns 20,158 shares of the company’s stock, valued at $3,077,320.28. This trade 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 have sold 9,392 shares of company stock valued at $1,396,515. 1.36% of the stock is currently owned by corporate insiders.

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.