Natixis Advisors L.P. lowered its stake in Extra Space Storage Inc. (NYSE:EXR – Get Rating) by 30.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 31,704 shares of the real estate investment trust’s stock after selling 13,655 shares during the period. Natixis Advisors L.P.’s holdings in Extra Space Storage were worth $4,666,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its position in shares of Extra Space Storage by 0.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,648,605 shares of the real estate investment trust’s stock worth $630,149,000 after purchasing an additional 10,610 shares during the last quarter. Pictet Asset Management SA increased its position in shares of Extra Space Storage by 7.5% in the 3rd quarter. Pictet Asset Management SA now owns 2,084,840 shares of the real estate investment trust’s stock worth $359,005,000 after purchasing an additional 145,688 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Extra Space Storage by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,312,164 shares of the real estate investment trust’s stock worth $269,781,000 after purchasing an additional 31,987 shares during the last quarter. Ceredex Value Advisors LLC increased its position in shares of Extra Space Storage by 69.0% in the 4th quarter. Ceredex Value Advisors LLC now owns 934,970 shares of the real estate investment trust’s stock worth $137,609,000 after purchasing an additional 381,727 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Extra Space Storage by 79.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 850,517 shares of the real estate investment trust’s stock worth $144,690,000 after purchasing an additional 376,279 shares during the last quarter. Institutional investors own 95.32% of the company’s stock.
Insider Buying and Selling
In related news, CEO Joseph D. Margolis sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 4th. The shares were sold at an average price of $160.07, for a total value of $800,350.00. Following the sale, the chief executive officer now directly owns 15,144 shares in the company, valued at approximately $2,424,100.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Matthew T. Herrington sold 650 shares of the business’s stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $165.75, for a total transaction of $107,737.50. Following the sale, the chief operating officer now owns 6,405 shares in the company, valued at $1,061,628.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joseph D. Margolis sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 4th. The shares were sold at an average price of $160.07, for a total transaction of $800,350.00. Following the sale, the chief executive officer now owns 15,144 shares in the company, valued at approximately $2,424,100.08. The disclosure for this sale can be found here. Insiders have sold 13,440 shares of company stock worth $2,172,313 in the last ninety days. 1.52% of the stock is currently owned by corporate insiders.
Extra Space Storage Trading Down 2.3 %
Extra Space Storage (NYSE:EXR – Get Rating) last issued its quarterly earnings results on Wednesday, February 22nd. The real estate investment trust reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.56). The company had revenue of $506.70 million during the quarter, compared to analyst estimates of $433.39 million. Extra Space Storage had a return on equity of 22.01% and a net margin of 45.52%. The company’s revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.91 earnings per share. As a group, analysts anticipate that Extra Space Storage Inc. will post 8.53 earnings per share for the current fiscal year.
Extra Space Storage Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Wednesday, March 15th were issued a $1.62 dividend. This is an increase from Extra Space Storage’s previous quarterly dividend of $1.50. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend was Tuesday, March 14th. Extra Space Storage’s payout ratio is presently 101.09%.
Wall Street Analysts Forecast Growth
EXR has been the subject of several research reports. KeyCorp decreased their price target on shares of Extra Space Storage from $190.00 to $172.00 and set an “overweight” rating for the company in a report on Wednesday, April 5th. StockNews.com initiated coverage on shares of Extra Space Storage in a report on Thursday, March 16th. They issued a “hold” rating for the company. Wolfe Research lowered shares of Extra Space Storage from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 18th. They noted that the move was a valuation call. Raymond James raised shares of Extra Space Storage from an “outperform” rating to a “strong-buy” rating and set a $185.00 price target for the company in a report on Tuesday, April 4th. Finally, Truist Financial lifted their price target on shares of Extra Space Storage from $160.00 to $165.00 and gave the company a “hold” rating in a report on Wednesday, March 8th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $170.56.
Extra Space Storage Profile
Extra Space Storage, Inc is a real estate investment trust. It operates through the following segments: Self-Storage Operations and Tenant Reinsurance. The Self-Storage Operations segment includes rental operations of wholly-owned stores. The Tenant Reinsurance segment includes reinsurance of risks relating to the loss of goods stored by tenants in stores.
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