Macquarie Group Ltd. Raises Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Macquarie Group Ltd. boosted its holdings in Extra Space Storage Inc. (NYSE:EXR) by 230.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 475,257 shares of the real estate investment trust’s stock after purchasing an additional 331,595 shares during the period. Macquarie Group Ltd. owned about 0.35% of Extra Space Storage worth $80,423,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Horizon Advisors Inc. boosted its holdings in Extra Space Storage by 1,272.7% in the first quarter. First Horizon Advisors Inc. now owns 151 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 140 shares during the last quarter. Money Concepts Capital Corp bought a new position in Extra Space Storage during the 4th quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV lifted its holdings in Extra Space Storage by 262.0% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 181 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 131 shares during the last quarter. CNB Bank bought a new position in Extra Space Storage during the 1st quarter worth approximately $32,000. Finally, Belpointe Asset Management LLC bought a new position in Extra Space Storage during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 66.40% of the company’s stock.

Insider Activity at Extra Space Storage

In related news, Director Joseph J. Bonner sold 956 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $125.64, for a total value of $120,111.84. Following the sale, the director now directly owns 4,504 shares in the company, valued at approximately $565,882.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.55% of the stock is owned by insiders.

Extra Space Storage Stock Performance

EXR traded down $2.49 during trading hours on Wednesday, hitting $124.31. The company’s stock had a trading volume of 324,213 shares, compared to its average volume of 1,500,129. Extra Space Storage Inc. has a fifty-two week low of $123.67 and a fifty-two week high of $192.50. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 1.86. The firm has a market capitalization of $26.27 billion, a PE ratio of 20.30, a PEG ratio of 12.59 and a beta of 0.56. The company has a 50-day simple moving average of $136.44 and a 200 day simple moving average of $147.08.

Extra Space Storage Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, September 14th. Extra Space Storage’s dividend payout ratio is currently 39.80%.

Analyst Ratings Changes

EXR has been the topic of a number of research analyst reports. StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Citigroup reduced their target price on Extra Space Storage from $160.00 to $135.00 and set a “neutral” rating on the stock in a report on Wednesday. Truist Financial cut their price target on Extra Space Storage from $155.00 to $138.00 and set a “hold” rating on the stock in a report on Tuesday, August 29th. Raymond James cut their price target on Extra Space Storage from $185.00 to $165.00 and set a “strong-buy” rating on the stock in a report on Thursday, August 31st. Finally, Evercore ISI raised Extra Space Storage from an “underperform” rating to an “outperform” rating and set a $164.00 price target on the stock in a report on Monday, June 12th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $155.14.

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 June 30, 2023, the Company owned and/or operated 2,438 self-storage stores in 41 states and Washington, DC The Company's stores comprise approximately 1.7 million units and approximately 184.0 million square feet of rentable space.