Extra Space Storage Inc. (NYSE:EXR) Shares Sold by National Bank of Canada FI

National Bank of Canada FI decreased its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 41.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 49,732 shares of the real estate investment trust’s stock after selling 35,169 shares during the quarter. National Bank of Canada FI’s holdings in Extra Space Storage were worth $8,176,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of EXR. Vanguard Group Inc. increased its holdings in Extra Space Storage by 55.7% in 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 purchasing an additional 12,055,172 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Extra Space Storage by 599.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,345,787 shares of the real estate investment trust’s stock valued at $406,781,000 after acquiring an additional 2,867,657 shares during the period. Diamond Hill Capital Management Inc. acquired a new position in Extra Space Storage in the 3rd quarter valued at about $173,621,000. First Eagle Investment Management LLC increased its stake in Extra Space Storage by 233,362.8% during the third quarter. First Eagle Investment Management LLC now owns 1,323,734 shares of the real estate investment trust’s stock worth $160,940,000 after purchasing an additional 1,323,167 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of Extra Space Storage by 22.1% in the third quarter. Principal Financial Group Inc. now owns 6,505,834 shares of the real estate investment trust’s stock valued at $790,975,000 after purchasing an additional 1,178,760 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Up 3.7 %

EXR opened at $146.22 on Friday. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $164.99. The business has a 50-day moving average of $141.85 and a two-hundred day moving average of $139.51. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.15 and a quick ratio of 0.30. The stock has a market capitalization of $30.96 billion, a price-to-earnings ratio of 32.57, a price-to-earnings-growth ratio of 3.48 and a beta of 0.76.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.01). The firm had revenue of $797.77 million during the quarter, compared to analyst estimates of $778.05 million. Extra Space Storage had a net margin of 29.10% and a return on equity of 6.76%. Extra Space Storage’s revenue was up 57.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.09 EPS. On average, research analysts expect that Extra Space Storage Inc. will post 8.05 earnings per share for the current year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $1.62 dividend. The ex-dividend date was Thursday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.43%. Extra Space Storage’s payout ratio is 144.32%.

Insider Buying and Selling at Extra Space Storage

In other news, CMO Samrat Sondhi sold 2,048 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $146.46, for a total value of $299,950.08. Following the transaction, the chief marketing officer now owns 94,126 shares of the company’s stock, valued at approximately $13,785,693.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $146.46, for a total value of $299,950.08. Following the completion of the sale, the chief marketing officer now owns 94,126 shares in the company, valued at $13,785,693.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $145.00, for a total value of $195,750.00. Following the transaction, the executive vice president now directly owns 37,028 shares in the company, valued at $5,369,060. The disclosure for this sale can be found here. Insiders have sold a total of 3,532 shares of company stock valued at $514,819 over the last ninety days. Corporate insiders own 1.36% of the company’s stock.

Wall Street Analyst Weigh In

EXR has been the subject of several analyst reports. Scotiabank initiated coverage on Extra Space Storage in a research report on Tuesday, February 13th. They set a “sector underperform” rating and a $131.00 price objective for the company. The Goldman Sachs Group upped their price objective on Extra Space Storage from $168.00 to $187.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Evercore ISI reduced their price target on shares of Extra Space Storage from $145.00 to $139.00 in a research report on Wednesday, May 1st. StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, March 2nd. Finally, Raymond James reiterated an “outperform” rating and issued a $160.00 price objective on shares of Extra Space Storage in a research report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Extra Space Storage currently has an average rating of “Hold” and a consensus target price of $149.67.

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.