BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 60,239 Shares of Extra Space Storage Inc. (NYSE:EXR)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. decreased its position in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 52.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,418 shares of the real estate investment trust's stock after selling 60,239 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in Extra Space Storage were worth $9,986,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Extra Space Storage in the third quarter valued at about $334,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Extra Space Storage in the 3rd quarter valued at approximately $1,144,000. Pathstone Holdings LLC increased its position in shares of Extra Space Storage by 1.1% during the 3rd quarter. Pathstone Holdings LLC now owns 13,027 shares of the real estate investment trust's stock worth $2,347,000 after purchasing an additional 148 shares during the last quarter. Swiss National Bank increased its holdings in shares of Extra Space Storage by 0.3% during the 3rd quarter. Swiss National Bank now owns 628,327 shares of the real estate investment trust's stock worth $113,218,000 after acquiring an additional 1,900 shares during the last quarter. Finally, Atlanta Consulting Group Advisors LLC bought a new stake in Extra Space Storage in the 3rd quarter valued at $247,000. Institutional investors and hedge funds own 99.11% of the company's stock.

Extra Space Storage Stock Performance

Shares of EXR traded up $1.26 on Friday, reaching $168.14. 547,242 shares of the company's stock traded hands, compared to its average volume of 956,449. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The stock has a market cap of $35.64 billion, a PE ratio of 44.02, a PEG ratio of 8.40 and a beta of 0.87. The stock's 50 day simple moving average is $170.44 and its two-hundred day simple moving average is $163.52. Extra Space Storage Inc. has a 52-week low of $125.32 and a 52-week high of $184.87.

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 analysts' consensus estimates of $2.03 by ($1.12). Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business had revenue of $824.80 million for the quarter, compared to analysts' expectations of $826.93 million. During the same period in the previous year, the business posted $2.02 earnings per share. The business's revenue was up 10.2% compared to the same quarter last year. On average, analysts forecast that Extra Space Storage Inc. will post 8.09 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

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

Insider Activity

In related news, Director Diane Olmstead sold 3,081 shares of Extra Space Storage stock in a transaction on Friday, November 15th. The stock was sold at an average price of $164.56, for a total transaction of $507,009.36. Following the completion of the sale, the director now owns 5,877 shares of the company's stock, valued at approximately $967,119.12. This trade represents a 34.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William N. Springer sold 2,000 shares of Extra Space Storage stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total value of $350,660.00. Following the sale, the executive vice president now directly owns 11,919 shares of the company's stock, valued at $2,089,758.27. This represents a 14.37 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,228 shares of company stock worth $3,374,617. 1.36% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Truist Financial upped their price objective on Extra Space Storage from $152.00 to $167.00 and gave the stock a "hold" rating in a research report on Friday, August 16th. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $175.00 target price on shares of Extra Space Storage in a research note on Monday, October 21st. Royal Bank of Canada started coverage on Extra Space Storage in a research note on Tuesday, September 10th. They set a "sector perform" rating and a $180.00 target price for the company. Barclays increased their price target on Extra Space Storage from $188.00 to $192.00 and gave the stock an "overweight" rating in a report on Monday, October 28th. Finally, Jefferies Financial Group upgraded Extra Space Storage from a "hold" rating to a "buy" rating and increased their price target for the stock from $162.00 to $204.00 in a report on Wednesday, September 18th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $171.50.

About Extra Space Storage

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.