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

Vaughan Nelson Investment Management L.P. grew its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 9.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and 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 quarter. Vaughan Nelson Investment Management L.P.’s holdings in Extra Space Storage were worth $53,806,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Graypoint LLC raised its stake in Extra Space Storage by 4.3% during the third quarter. Graypoint LLC now owns 1,575 shares of the real estate investment trust’s stock worth $284,000 after buying an additional 65 shares during the last quarter. Hummer Financial Advisory Services Inc lifted its stake in shares of Extra Space Storage by 1.2% in the 3rd quarter. Hummer Financial Advisory Services Inc now owns 5,920 shares of the real estate investment trust’s stock valued at $1,067,000 after purchasing an additional 70 shares during the period. Buckley Wealth Management LLC grew its stake in Extra Space Storage by 1.9% during the third quarter. Buckley Wealth Management LLC now owns 3,811 shares of the real estate investment trust’s stock worth $687,000 after purchasing an additional 71 shares during the period. Massmutual Trust Co. FSB ADV lifted its stake in Extra Space Storage by 19.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust’s stock valued at $72,000 after buying an additional 76 shares during the period. Finally, Bleakley Financial Group LLC boosted its holdings in shares of Extra Space Storage by 4.1% during the 3rd quarter. Bleakley Financial Group LLC now owns 1,973 shares of the real estate investment trust’s stock worth $356,000 after buying an additional 77 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Insiders Place Their Bets

In related news, EVP William N. Springer sold 2,000 shares of the firm’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 value of $350,660.00. Following the completion of the transaction, the executive vice president now directly owns 11,919 shares of the company’s stock, valued at approximately $2,089,758.27. This trade represents a 14.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gwyn Goodson Mcneal sold 2,823 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $177.01, for a total transaction of $499,699.23. Following the sale, the executive vice president now directly owns 32,855 shares in the company, valued at $5,815,663.55. The trade was a 7.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,970 shares of company stock worth $3,367,307 over the last quarter. 1.36% of the stock is currently owned by company insiders.

Extra Space Storage Stock Up 0.7 %

Extra Space Storage stock opened at $164.56 on Friday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $34.88 billion, a P/E ratio of 43.08, a P/E/G ratio of 8.26 and a beta of 0.87. The firm has a 50 day moving average price of $171.50 and a 200-day moving average price of $162.46. Extra Space Storage Inc. has a twelve month low of $125.32 and a twelve month high of $184.87.

Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The firm had revenue of $824.80 million during the quarter, compared to analysts’ expectations of $826.93 million. During the same period in the prior year, the business earned $2.02 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts predict that Extra Space Storage Inc. will post 8.09 EPS for the current year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.94%. Extra Space Storage’s dividend payout ratio (DPR) is presently 169.63%.

Analysts Set New Price Targets

EXR has been the subject of several research reports. Jefferies Financial Group upgraded Extra Space Storage from a “hold” rating to a “buy” rating and raised their target price for the company from $162.00 to $204.00 in a research note on Wednesday, September 18th. Evercore ISI cut their price target on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a research note on Monday, October 14th. StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Royal Bank of Canada started coverage on Extra Space Storage in a report on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 price target for the company. Finally, Bank of America cut Extra Space Storage from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $172.00 to $155.00 in a research note on Monday, August 5th. Three equities 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 data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $171.50.

About Extra Space Storage

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.