Vaughan Nelson Investment Management L.P. Sells 171,055 Shares of Extra Space Storage Inc. (NYSE:EXR)

Vaughan Nelson Investment Management L.P. lowered its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 57.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 127,550 shares of the real estate investment trust’s stock after selling 171,055 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Extra Space Storage were worth $19,081,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Golden State Wealth Management LLC purchased a new stake in Extra Space Storage during the fourth quarter valued at about $25,000. Ashton Thomas Securities LLC bought a new stake in shares of Extra Space Storage in the 3rd quarter valued at about $33,000. Harvest Fund Management Co. Ltd purchased a new stake in Extra Space Storage during the 3rd quarter valued at about $42,000. Continuum Advisory LLC grew its position in Extra Space Storage by 68.1% during the 3rd quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 126 shares during the last quarter. Finally, DiNuzzo Private Wealth Inc. purchased a new position in Extra Space Storage in the 3rd quarter worth approximately $129,000. Institutional investors own 99.11% of the company’s stock.

Insider Activity at Extra Space Storage

In related news, Director Diane Olmstead sold 3,081 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $164.56, for a total value of $507,009.36. Following the completion of the transaction, the director now directly owns 5,877 shares in the company, valued at $967,119.12. This trade represents a 34.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Thursday, January 2nd. The shares were 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 directly owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on EXR shares. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Evercore ISI dropped their price target on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a research report on Monday, October 14th. Wells Fargo & Company reissued an “equal weight” rating and issued a $175.00 price target on shares of Extra Space Storage in a report on Monday, October 21st. Scotiabank raised shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective for the company in a research note on Friday, January 10th. Finally, Truist Financial raised their target price on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Extra Space Storage presently has a consensus rating of “Hold” and a consensus target price of $174.00.

Extra Space Storage Stock Performance

Shares of EXR opened at $156.01 on Monday. The company has a 50-day simple moving average of $153.06 and a two-hundred day simple moving average of $164.18. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The firm has a market capitalization of $33.07 billion, a PE ratio of 40.84, a price-to-earnings-growth ratio of 7.77 and a beta of 0.91. Extra Space Storage Inc. has a one year low of $131.02 and a one year high of $184.87.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date was Monday, December 16th. Extra Space Storage’s payout ratio is presently 169.63%.

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.