Royal London Asset Management Ltd. Has $13.15 Million Position in Extra Space Storage Inc. (NYSE:EXR)

Royal London Asset Management Ltd. raised its stake in Extra Space Storage Inc. (NYSE:EXR) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 81,990 shares of the real estate investment trust’s stock after buying an additional 3,354 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Extra Space Storage were worth $13,145,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Extra Space Storage by 55.7% during the 3rd quarter. Vanguard Group Inc. now owns 33,686,341 shares of the real estate investment trust’s stock valued at $4,095,585,000 after acquiring an additional 12,055,172 shares in the last quarter. Principal Financial Group Inc. boosted its position in Extra Space Storage by 8.9% during the fourth quarter. Principal Financial Group Inc. now owns 7,083,752 shares of the real estate investment trust’s stock valued at $1,135,738,000 after purchasing an additional 577,918 shares during the last quarter. Norges Bank purchased a new position in Extra Space Storage in the fourth quarter valued at about $1,022,811,000. JPMorgan Chase & Co. increased its position in Extra Space Storage by 599.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,345,787 shares of the real estate investment trust’s stock worth $406,781,000 after purchasing an additional 2,867,657 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Extra Space Storage by 6.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,219,030 shares of the real estate investment trust’s stock worth $516,107,000 after purchasing an additional 186,940 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on EXR shares. Raymond James restated an “outperform” rating and issued a $160.00 price objective on shares of Extra Space Storage in a report on Thursday, March 28th. Barclays increased their price target on shares of Extra Space Storage from $157.00 to $158.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Citigroup reduced their price objective on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Wells Fargo & Company upped their price objective on shares of Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Finally, Evercore ISI cut their target price on Extra Space Storage from $145.00 to $139.00 in a report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $151.83.

Insider Transactions at Extra Space Storage

In related news, Director Joseph J. Bonner sold 677 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $148.22, for a total value of $100,344.94. Following the completion of the sale, the director now owns 5,229 shares in the company, valued at $775,042.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Performance

Shares of EXR stock traded down $0.34 during trading hours on Friday, reaching $156.57. 1,284,212 shares of the company’s stock were exchanged, compared to its average volume of 845,173. Extra Space Storage Inc. has a fifty-two week low of $101.19 and a fifty-two week high of $164.99. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $33.15 billion, a P/E ratio of 34.87, a P/E/G ratio of 3.76 and a beta of 0.81. The business has a fifty day moving average price of $143.66 and a 200-day moving average price of $145.37.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $1.62 dividend. The ex-dividend date is Friday, June 14th. This represents a $6.48 annualized dividend and a yield of 4.14%. Extra Space Storage’s dividend payout ratio is 144.32%.

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.