Swiss National Bank Sells 18,800 Shares of Extra Space Storage Inc. (NYSE:EXR)

Swiss National Bank lowered its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 2.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 660,627 shares of the real estate investment trust’s stock after selling 18,800 shares during the period. Swiss National Bank owned approximately 0.31% of Extra Space Storage worth $105,918,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Extra Space Storage by 55.7% during the third quarter. Vanguard Group Inc. now owns 33,686,341 shares of the real estate investment trust’s stock worth $4,095,585,000 after buying an additional 12,055,172 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Extra Space Storage by 22.1% during the 3rd quarter. Principal Financial Group Inc. now owns 6,505,834 shares of the real estate investment trust’s stock worth $790,975,000 after acquiring an additional 1,178,760 shares during the period. JPMorgan Chase & Co. boosted its position in shares of 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 in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Extra Space Storage by 33.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,032,090 shares of the real estate investment trust’s stock valued at $368,642,000 after acquiring an additional 763,493 shares during the period. Finally, Daiwa Securities Group Inc. raised its position in Extra Space Storage by 8.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 2,724,293 shares of the real estate investment trust’s stock worth $436,786,000 after purchasing an additional 211,395 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, CMO Samrat Sondhi sold 2,048 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $146.46, for a total transaction of $299,950.08. Following the transaction, the chief marketing officer now owns 94,126 shares in the company, valued at $13,785,693.96. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $145.00, for a total value of $195,750.00. Following the completion of the transaction, the executive vice president now directly owns 37,028 shares of the company’s stock, valued at $5,369,060. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 of the company’s stock, valued at $13,785,693.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,532 shares of company stock worth $514,819. Insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Up 1.5 %

Shares of EXR opened at $141.87 on Friday. The business’s fifty day moving average price is $141.56 and its two-hundred day moving average price is $138.84. The firm has a market capitalization of $30.02 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 3.48 and a beta of 0.76. Extra Space Storage Inc. has a 52 week low of $101.19 and a 52 week high of $164.99. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.30 and a current ratio of 0.15.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.02 EPS 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 return on equity of 6.76% and a net margin of 29.10%. Extra Space Storage’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.09 earnings per share. On average, analysts predict 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 announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend was Thursday, March 14th. Extra Space Storage’s dividend payout ratio is presently 144.32%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on EXR shares. StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, March 2nd. Wells Fargo & Company lifted their price objective on Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, April 5th. The Goldman Sachs Group upped their target price on shares of Extra Space Storage from $168.00 to $187.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Scotiabank initiated coverage on shares of Extra Space Storage in a report on Tuesday, February 13th. They set a “sector underperform” rating and a $131.00 price target for the company. Finally, Raymond James reaffirmed an “outperform” rating and set a $160.00 price objective on shares of Extra Space Storage in a research note on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus 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.