Van Lanschot Kempen Investment Management N.V. Has $23.10 Million Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Van Lanschot Kempen Investment Management N.V. lowered its stake in Extra Space Storage Inc. (NYSE:EXR) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,395 shares of the real estate investment trust’s stock after selling 4,337 shares during the period. Van Lanschot Kempen Investment Management N.V.’s holdings in Extra Space Storage were worth $23,097,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of EXR. Kayne Anderson Rudnick Investment Management LLC boosted its position in Extra Space Storage by 3.2% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 15,209 shares of the real estate investment trust’s stock valued at $2,275,000 after acquiring an additional 469 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Extra Space Storage by 1.3% in the 4th quarter. MetLife Investment Management LLC now owns 62,279 shares of the real estate investment trust’s stock worth $9,317,000 after purchasing an additional 792 shares in the last quarter. Natixis bought a new position in shares of Extra Space Storage in the fourth quarter valued at $11,501,000. Norinchukin Bank The lifted its position in Extra Space Storage by 3.1% in the 4th quarter. Norinchukin Bank The now owns 18,845 shares of the real estate investment trust’s stock valued at $2,819,000 after acquiring an additional 572 shares in the last quarter. Finally, Ossiam boosted its stake in Extra Space Storage by 20.6% during the 4th quarter. Ossiam now owns 10,666 shares of the real estate investment trust’s stock valued at $1,596,000 after purchasing an additional 1,824 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insider Activity at Extra Space Storage

In other news, Director Joseph J. Bonner sold 672 shares of Extra Space Storage stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $149.10, for a total value of $100,195.20. Following the completion of the transaction, the director now owns 4,557 shares in the company, valued at $679,448.70. This trade represents a 12.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the sale, the chief executive officer now owns 9,190 shares in the company, valued at $1,355,065.50. The trade was a 44.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,392 shares of company stock worth $1,392,315. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Up 2.0 %

Extra Space Storage stock opened at $140.99 on Monday. The firm has a 50 day moving average price of $146.92 and a 200-day moving average price of $155.12. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a twelve month low of $121.03 and a twelve month high of $184.87. The company has a market capitalization of $29.92 billion, a P/E ratio of 36.91, a P/E/G ratio of 7.76 and a beta of 0.96.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.93. The business had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. As a group, equities analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.60%. The ex-dividend date was Friday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is currently 160.40%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EXR. Mizuho initiated coverage on Extra Space Storage in a report on Wednesday, April 9th. They issued an “outperform” rating and a $141.00 target price on the stock. Royal Bank of Canada dropped their price objective on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. The Goldman Sachs Group reiterated a “buy” rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Scotiabank raised shares of Extra Space Storage from a “sector perform” rating to a “sector outperform” rating and dropped their price target for the company from $165.00 to $149.00 in a research report on Wednesday, April 9th. Finally, Barclays reduced their price objective on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a research report on Wednesday, March 12th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $167.25.

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.