Barclays PLC lowered its position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 5.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 427,622 shares of the real estate investment trust's stock after selling 25,626 shares during the quarter. Barclays PLC owned approximately 0.20% of Extra Space Storage worth $77,054,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Pathway Financial Advisers LLC raised its holdings in Extra Space Storage by 17,832.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust's stock worth $363,783,000 after purchasing an additional 2,007,626 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Extra Space Storage by 724.1% during 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 buying an additional 1,741,320 shares during the last quarter. American Century Companies Inc. lifted its holdings in Extra Space Storage by 543.5% in the second quarter. American Century Companies Inc. now owns 397,170 shares of the real estate investment trust's stock valued at $61,724,000 after buying an additional 335,447 shares during the period. Canada Pension Plan Investment Board boosted its stake in Extra Space Storage by 20.5% in the second quarter. Canada Pension Plan Investment Board now owns 1,877,100 shares of the real estate investment trust's stock valued at $291,720,000 after acquiring an additional 319,965 shares during the last quarter. Finally, Mizuho Securities USA LLC grew its holdings in Extra Space Storage by 1,664.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 288,094 shares of the real estate investment trust's stock worth $51,912,000 after acquiring an additional 271,765 shares during the period. Institutional investors and hedge funds own 99.11% of the company's stock.
Insider Transactions at Extra Space Storage
In other news, Director Diane Olmstead sold 3,081 shares of the company's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $164.56, for a total value of $507,009.36. Following the sale, the director now directly owns 5,877 shares of the company's stock, valued at approximately $967,119.12. This represents a 34.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth M. Woolley sold 6,647 shares of Extra Space Storage stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $177.23, for a total value of $1,178,047.81. Following the transaction, the director now owns 404,306 shares of the company's stock, valued at $71,655,152.38. The trade was a 1.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,228 shares of company stock worth $3,023,957 in the last 90 days. Corporate insiders own 1.36% of the company's stock.
Extra Space Storage Stock Down 0.4 %
Shares of EXR stock traded down $0.60 during trading on Thursday, reaching $158.92. The company's stock had a trading volume of 869,875 shares, compared to its average volume of 1,021,992. Extra Space Storage Inc. has a one year low of $131.02 and a one year high of $184.87. The business has a fifty day moving average price of $166.78 and a 200-day moving average price of $165.27. The company has a market cap of $33.69 billion, a price-to-earnings ratio of 41.60, a price-to-earnings-growth ratio of 8.23 and a beta of 0.89. 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 - Get Free Report) last issued 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 business had revenue of $824.80 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm earned $2.02 earnings per share. Analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.
Extra Space Storage Announces Dividend
The business also recently declared 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 annualized dividend and a dividend yield of 4.08%. The ex-dividend date is Monday, December 16th. Extra Space Storage's dividend payout ratio (DPR) is 169.63%.
Analyst Ratings Changes
A number of research firms have recently weighed in on EXR. Scotiabank cut their price target on Extra Space Storage from $169.00 to $167.00 and set a "sector underperform" rating on the stock in a research note on Monday, November 25th. StockNews.com cut Extra Space Storage from a "hold" rating to a "sell" rating in a report on Thursday, October 31st. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $175.00 price target on shares of Extra Space Storage in a research note on Monday, October 21st. Barclays boosted their price objective on shares of Extra Space Storage from $188.00 to $192.00 and gave the company an "overweight" rating in a report on Monday, October 28th. Finally, Jefferies Financial Group upgraded shares of Extra Space Storage from a "hold" rating to a "buy" rating and increased their target price for the stock from $162.00 to $204.00 in a report on Wednesday, September 18th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $171.43.
Read Our Latest Stock Report on EXR
Extra Space Storage Profile
(
Free Report)
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.
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