Extra Space Storage Inc. (NYSE:EXR) Stake Lessened by National Pension Service

National Pension Service lessened its stake in Extra Space Storage Inc. (NYSE:EXR) by 5.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 314,349 shares of the real estate investment trust’s stock after selling 19,516 shares during the quarter. National Pension Service’s holdings in Extra Space Storage were worth $47,027,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tidal Investments LLC boosted its holdings in Extra Space Storage by 34.4% in the third quarter. Tidal Investments LLC now owns 12,640 shares of the real estate investment trust’s stock worth $2,278,000 after purchasing an additional 3,234 shares during the period. Swedbank AB boosted its holdings in Extra Space Storage by 4.5% in the third quarter. Swedbank AB now owns 243,130 shares of the real estate investment trust’s stock worth $43,810,000 after purchasing an additional 10,408 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Extra Space Storage by 724.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust’s stock worth $357,100,000 after purchasing an additional 1,741,320 shares during the period. Duff & Phelps Investment Management Co. boosted its holdings in Extra Space Storage by 9.5% in the third quarter. Duff & Phelps Investment Management Co. now owns 35,503 shares of the real estate investment trust’s stock worth $6,397,000 after purchasing an additional 3,093 shares during the period. Finally, Brown Financial Advisors boosted its holdings in Extra Space Storage by 69.1% in the third quarter. Brown Financial Advisors now owns 9,134 shares of the real estate investment trust’s stock worth $1,646,000 after purchasing an additional 3,731 shares during the period. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Performance

EXR stock opened at $153.50 on Friday. The company has a market capitalization of $32.54 billion, a P/E ratio of 40.18, a PEG ratio of 7.76 and a beta of 0.91. The company has a 50-day simple moving average of $152.16 and a 200 day simple moving average of $163.55. Extra Space Storage Inc. has a fifty-two week low of $131.02 and a fifty-two week high of $184.87. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.93. The business had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. Sell-side analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage’s payout ratio is currently 160.40%.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total value of $1,110,075.00. Following the sale, the chief executive officer now directly owns 16,690 shares in the company, valued at approximately $2,470,286.90. The trade was a 31.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.36% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

EXR has been the subject of a number of research reports. Scotiabank raised shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective for the company in a report on Friday, January 10th. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Barclays reduced their price target on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Truist Financial boosted their price target on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Finally, Royal Bank of Canada reduced their price target on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Extra Space Storage presently has a consensus rating of “Hold” and an average target price of $171.55.

Extra Space Storage Company 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.