B. Metzler seel. Sohn & Co. Holding AG Purchases New Position in Extra Space Storage Inc. (NYSE:EXR)

B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 6,350 shares of the real estate investment trust's stock, valued at approximately $1,144,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EdgeRock Capital LLC bought a new position in Extra Space Storage during the second quarter valued at approximately $25,000. Centerpoint Advisors LLC bought a new stake in shares of Extra Space Storage in the second quarter worth $27,000. Ashton Thomas Securities LLC purchased a new stake in Extra Space Storage during the third quarter valued at $33,000. Blue Trust Inc. increased its position in Extra Space Storage by 540.5% during the second quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust's stock valued at $35,000 after acquiring an additional 200 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in Extra Space Storage by 2,760.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust's stock valued at $44,000 after acquiring an additional 276 shares during the period. Institutional investors own 99.11% of the company's stock.

Insider Activity at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total value of $1,338,900.00. Following the transaction, the chief executive officer now directly owns 24,190 shares in the company, valued at approximately $4,318,398.80. This trade represents a 23.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP William N. Springer sold 2,000 shares of the company's stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total value of $350,660.00. Following the sale, the executive vice president now owns 11,919 shares of the company's stock, valued at $2,089,758.27. This trade represents a 14.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,228 shares of company stock worth $3,374,617 over the last three months. 1.36% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on EXR shares. Royal Bank of Canada assumed coverage on shares of Extra Space Storage in a research report on Tuesday, September 10th. They set a "sector perform" rating and a $180.00 price target for the company. Scotiabank boosted their price objective on shares of Extra Space Storage from $159.00 to $169.00 and gave the company a "sector underperform" rating in a research report on Thursday, August 22nd. Barclays lifted their target price on Extra Space Storage from $188.00 to $192.00 and gave the company an "overweight" rating in a research report on Monday, October 28th. Truist Financial raised their price objective on Extra Space Storage from $152.00 to $167.00 and gave the stock a "hold" rating in a research note on Friday, August 16th. Finally, KeyCorp increased their target price on shares of Extra Space Storage from $172.00 to $178.00 and gave the stock an "overweight" rating in a report on Monday, September 9th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Extra Space Storage presently has a consensus rating of "Hold" and a consensus target price of $171.50.

Extra Space Storage Trading Up 0.8 %

EXR stock traded up $1.26 during midday trading on Friday, reaching $168.14. The company's stock had a trading volume of 547,242 shares, compared to its average volume of 956,449. Extra Space Storage Inc. has a 1 year low of $125.32 and a 1 year high of $184.87. The firm has a market capitalization of $35.64 billion, a price-to-earnings ratio of 44.02, a PEG ratio of 8.40 and a beta of 0.87. The stock has a fifty day simple moving average of $170.44 and a two-hundred day simple moving average of $163.52. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing the consensus estimate of $2.03 by ($1.12). The company had revenue of $824.80 million during the quarter, compared to analysts' expectations of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company's quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.02 EPS. On average, equities research analysts predict that Extra Space Storage Inc. will post 8.09 EPS for the current year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date is Monday, December 16th. Extra Space Storage's dividend payout ratio (DPR) is presently 169.63%.

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.