Aew Capital Management L P Sells 38,070 Shares of Extra Space Storage Inc. (NYSE:EXR)

Aew Capital Management L P lowered its stake in Extra Space Storage Inc. (NYSE:EXR) by 4.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 855,512 shares of the real estate investment trust’s stock after selling 38,070 shares during the period. Extra Space Storage makes up 5.0% of Aew Capital Management L P’s portfolio, making the stock its 4th largest holding. Aew Capital Management L P owned 0.40% of Extra Space Storage worth $137,164,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. CWM LLC increased its position in Extra Space Storage by 262.9% in the 3rd quarter. CWM LLC now owns 4,065 shares of the real estate investment trust’s stock valued at $494,000 after acquiring an additional 2,945 shares during the period. AE Wealth Management LLC lifted its position in shares of Extra Space Storage by 112.2% during the third quarter. AE Wealth Management LLC now owns 6,719 shares of the real estate investment trust’s stock valued at $817,000 after purchasing an additional 3,552 shares in the last quarter. Caprock Group LLC bought a new position in shares of Extra Space Storage during the third quarter valued at about $285,000. UMB Bank n.a. lifted its position in shares of Extra Space Storage by 682.3% during the third quarter. UMB Bank n.a. now owns 618 shares of the real estate investment trust’s stock valued at $75,000 after purchasing an additional 539 shares in the last quarter. Finally, WASHINGTON TRUST Co lifted its position in shares of Extra Space Storage by 25.2% during the third quarter. WASHINGTON TRUST Co now owns 4,225 shares of the real estate investment trust’s stock valued at $514,000 after purchasing an additional 850 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insiders Place Their Bets

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of Extra Space Storage stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the transaction, the executive vice president now directly owns 37,028 shares of the company’s stock, valued at $5,369,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the sale, the executive vice president now directly owns 37,028 shares of the company’s stock, valued at $5,369,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Samrat Sondhi sold 2,048 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $146.46, for a total transaction of $299,950.08. Following the completion of the sale, the chief marketing officer now directly owns 94,126 shares of the company’s stock, valued at $13,785,693.96. The disclosure for this sale can be found here. Insiders sold 3,532 shares of company stock valued at $514,819 over the last three months. 1.36% of the stock is owned by company insiders.

Analyst Ratings Changes

EXR has been the topic of a number of analyst reports. Truist Financial upped their target price on shares of Extra Space Storage from $138.00 to $152.00 and gave the stock a “hold” rating in a report on Thursday, December 28th. TheStreet upgraded shares of Extra Space Storage from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Raymond James restated an “outperform” rating and set a $160.00 price objective on shares of Extra Space Storage in a research note on Thursday, March 28th. Wells Fargo & Company raised their price objective on shares of Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Finally, StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Saturday, March 2nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $150.17.

Extra Space Storage Stock Performance

Shares of EXR traded down $0.26 on Friday, reaching $133.57. The company’s stock had a trading volume of 716,541 shares, compared to its average volume of 1,167,928. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market capitalization of $28.27 billion, a P/E ratio of 27.04, a PEG ratio of 3.31 and a beta of 0.74. The stock’s 50 day simple moving average is $141.87 and its two-hundred day simple moving average is $138.07. Extra Space Storage Inc. has a 12-month low of $101.19 and a 12-month high of $164.99.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($1.01). The firm had revenue of $797.77 million for the quarter, compared to analysts’ expectations of $778.05 million. Extra Space Storage had a net margin of 31.81% and a return on equity of 8.34%. Extra Space Storage’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.09 EPS. Research analysts forecast that Extra Space Storage Inc. will post 8.05 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.85%. The ex-dividend date of this dividend was Thursday, March 14th. Extra Space Storage’s payout ratio is 131.17%.

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.