Vaughan Nelson Investment Management L.P. Has $53.81 Million Holdings in Extra Space Storage Inc. (NYSE:EXR)

Vaughan Nelson Investment Management L.P. lifted its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 9.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 298,605 shares of the real estate investment trust’s stock after acquiring an additional 26,316 shares during the period. Vaughan Nelson Investment Management L.P. owned approximately 0.14% of Extra Space Storage worth $53,806,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Natixis Advisors LLC increased its holdings in Extra Space Storage by 2.0% during the 3rd quarter. Natixis Advisors LLC now owns 108,688 shares of the real estate investment trust’s stock worth $19,585,000 after purchasing an additional 2,095 shares in the last quarter. Mizuho Securities USA LLC grew its holdings in shares of Extra Space Storage by 1,664.3% during the third quarter. Mizuho Securities USA LLC now owns 288,094 shares of the real estate investment trust’s stock worth $51,912,000 after buying an additional 271,765 shares in the last quarter. Empowered Funds LLC raised its position in Extra Space Storage by 7.2% in the 3rd quarter. Empowered Funds LLC now owns 3,928 shares of the real estate investment trust’s stock valued at $708,000 after buying an additional 264 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Extra Space Storage by 8.4% in the 3rd quarter. CIBC Asset Management Inc now owns 30,877 shares of the real estate investment trust’s stock valued at $5,564,000 after acquiring an additional 2,399 shares in the last quarter. Finally, OneDigital Investment Advisors LLC acquired a new position in Extra Space Storage during the 3rd quarter worth approximately $210,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $177.01, for a total value of $499,699.23. Following the transaction, the executive vice president now directly owns 32,855 shares of the company’s stock, valued at $5,815,663.55. This trade represents a 7.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William N. Springer sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total transaction of $350,660.00. Following the completion of the transaction, the executive vice president now owns 11,919 shares of the company’s stock, valued at $2,089,758.27. The trade was a 14.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,970 shares of company stock valued at $3,367,307. 1.36% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

EXR has been the topic of a number of research reports. Wells Fargo & Company reissued an “equal weight” rating and issued a $175.00 price objective on shares of Extra Space Storage in a research report on Monday, October 21st. Scotiabank increased their price objective on shares of Extra Space Storage from $159.00 to $169.00 and gave the stock a “sector underperform” rating in a research note on Thursday, August 22nd. Raymond James upped their target price on Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Truist Financial raised their price target on Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a research note on Friday, August 16th. Finally, Barclays upped their price objective on Extra Space Storage from $188.00 to $192.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $171.50.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $164.56 on Friday. The company has a market capitalization of $34.88 billion, a price-to-earnings ratio of 43.08, a PEG ratio of 8.26 and a beta of 0.87. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 12 month low of $125.32 and a 12 month high of $184.87. The stock’s 50 day moving average is $171.50 and its 200-day moving average is $162.46.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($1.12). The firm had revenue of $824.80 million for the quarter, compared to the consensus estimate of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.02 EPS. Equities research analysts expect that Extra Space Storage Inc. will post 8.09 EPS for the current year.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.94%. 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.