ING Groep NV Purchases 2,401 Shares of Extra Space Storage Inc. (NYSE:EXR)

ING Groep NV boosted its position in Extra Space Storage Inc. (NYSE:EXR) by 30.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,225 shares of the real estate investment trust’s stock after acquiring an additional 2,401 shares during the period. ING Groep NV’s holdings in Extra Space Storage were worth $1,639,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EXR. Vanguard Group Inc. boosted its holdings in Extra Space Storage by 55.7% in 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 acquiring an additional 12,055,172 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Extra Space Storage by 599.8% in the third quarter. JPMorgan Chase & Co. now owns 3,345,787 shares of the real estate investment trust’s stock worth $406,781,000 after acquiring an additional 2,867,657 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in Extra Space Storage by 233,362.8% in 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 acquiring an additional 1,323,167 shares in the last quarter. Northern Trust Corp boosted its holdings in Extra Space Storage by 59.3% in the third quarter. Northern Trust Corp now owns 2,724,282 shares of the real estate investment trust’s stock worth $331,218,000 after acquiring an additional 1,014,041 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Extra Space Storage by 89.4% in the third quarter. Invesco Ltd. now owns 1,732,322 shares of the real estate investment trust’s stock worth $210,616,000 after acquiring an additional 817,521 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EXR. Deutsche Bank Aktiengesellschaft began coverage on Extra Space Storage in a report on Tuesday, January 30th. They issued a “hold” rating and a $141.00 target price on the stock. Evercore ISI dropped their target price on Extra Space Storage from $145.00 to $139.00 in a report on Wednesday, May 1st. Barclays raised their target price on Extra Space Storage from $157.00 to $158.00 and gave the company an “overweight” rating in a report on Monday. StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, March 2nd. Finally, Scotiabank began coverage on Extra Space Storage in a report on Tuesday, February 13th. They issued a “sector underperform” rating and a $131.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Extra Space Storage presently has a consensus rating of “Hold” and an average target price of $149.75.

Insider Activity

In related news, CMO Samrat Sondhi sold 2,048 shares of Extra Space Storage stock in a transaction on Monday, March 4th. The stock was sold at an average price of $146.46, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CMO Samrat Sondhi sold 2,048 shares of Extra Space Storage stock in a transaction on Monday, March 4th. The stock was sold at an average price of $146.46, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of Extra Space Storage stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total value of $195,750.00. Following the sale, the executive vice president now directly owns 37,028 shares of the company’s stock, valued at approximately $5,369,060. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,532 shares of company stock worth $514,819. 1.36% of the stock is owned by corporate insiders.

Extra Space Storage Stock Performance

NYSE:EXR opened at $146.08 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.15 and a quick ratio of 0.15. The business has a fifty day simple moving average of $142.25 and a two-hundred day simple moving average of $142.49. Extra Space Storage Inc. has a 1 year low of $101.19 and a 1 year high of $164.99. The company has a market capitalization of $30.93 billion, a P/E ratio of 32.53, a P/E/G ratio of 3.69 and a beta of 0.76.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($1.01). The company had revenue of $797.77 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 57.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.09 earnings per share. On average, analysts expect that Extra Space Storage Inc. will post 8.05 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend was Thursday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.32%.

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.