Extra Space Storage Inc. (NYSE:EXR) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale cut its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 4.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 113,975 shares of the real estate investment trust’s stock after selling 5,351 shares during the period. DekaBank Deutsche Girozentrale owned 0.05% of Extra Space Storage worth $16,510,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Extra Space Storage by 17.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,087 shares of the real estate investment trust’s stock valued at $18,933,000 after acquiring an additional 17,163 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Extra Space Storage in the 4th quarter valued at $3,304,000. Daiwa Securities Group Inc. increased its position in shares of Extra Space Storage by 8.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,724,293 shares of the real estate investment trust’s stock valued at $436,786,000 after acquiring an additional 211,395 shares during the period. State of Tennessee Treasury Department increased its position in shares of Extra Space Storage by 252.1% in the 4th quarter. State of Tennessee Treasury Department now owns 114,819 shares of the real estate investment trust’s stock valued at $18,409,000 after acquiring an additional 82,207 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Extra Space Storage by 19.3% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 247,203 shares of the real estate investment trust’s stock valued at $36,307,000 after acquiring an additional 40,055 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Price Performance

EXR stock traded up $5.09 during mid-day trading on Friday, reaching $164.95. The company’s stock had a trading volume of 1,446,380 shares, compared to its average volume of 880,260. The stock has a market cap of $34.92 billion, a PE ratio of 36.74, a P/E/G ratio of 3.37 and a beta of 0.83. The company has a current ratio of 0.20, a quick ratio of 0.15 and a debt-to-equity ratio of 0.76. Extra Space Storage Inc. has a fifty-two week low of $101.19 and a fifty-two week high of $171.46. The company’s 50 day moving average is $156.05 and its two-hundred day moving average is $147.65.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $1.62 dividend. The ex-dividend date was Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a yield of 3.93%. Extra Space Storage’s payout ratio is 144.32%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on EXR shares. Barclays upped their price target on shares of Extra Space Storage from $157.00 to $158.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Citigroup lowered their price target on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, June 7th. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. Evercore ISI upped their price target on shares of Extra Space Storage from $140.00 to $151.00 and gave the company an “in-line” rating in a report on Monday, July 15th. Finally, Raymond James increased their target price on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Extra Space Storage currently has a consensus rating of “Hold” and an average target price of $157.67.

Insider Buying and Selling at Extra Space Storage

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 shares were sold at an average price of $152.58, for a total transaction 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 approximately $4,835,260.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Joseph J. Bonner sold 677 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $148.22, for a total transaction of $100,344.94. Following the completion of the transaction, the director now owns 5,229 shares of the company’s stock, valued at approximately $775,042.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $1,144,350.00. Following the transaction, the chief executive officer now directly owns 31,690 shares of the company’s stock, valued at approximately $4,835,260.20. The disclosure for this sale can be found here. 1.36% of the stock is owned by insiders.

Extra Space Storage Company 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.