Caisse DE Depot ET Placement DU Quebec Sells 3,200 Shares of Extra Space Storage Inc. (NYSE:EXR)

Caisse DE Depot ET Placement DU Quebec reduced its stake in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 7.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,964 shares of the real estate investment trust's stock after selling 3,200 shares during the quarter. Caisse DE Depot ET Placement DU Quebec's holdings in Extra Space Storage were worth $7,561,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Gateway Investment Advisers LLC bought a new position in shares of Extra Space Storage during the 2nd quarter valued at about $16,026,000. MADDEN SECURITIES Corp bought a new stake in shares of Extra Space Storage during the second quarter worth $1,002,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Extra Space Storage by 53.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,738 shares of the real estate investment trust's stock worth $1,824,000 after acquiring an additional 4,102 shares in the last quarter. Swedbank AB raised its holdings in shares of Extra Space Storage by 4.5% during the third quarter. Swedbank AB now owns 243,130 shares of the real estate investment trust's stock worth $43,810,000 after acquiring an additional 10,408 shares during the period. Finally, Czech National Bank boosted its stake in Extra Space Storage by 8.5% in the 2nd quarter. Czech National Bank now owns 40,346 shares of the real estate investment trust's stock worth $6,270,000 after purchasing an additional 3,172 shares during the period. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Trading Down 2.5 %

NYSE EXR traded down $4.19 during trading hours on Tuesday, reaching $165.54. The company's stock had a trading volume of 1,085,459 shares, compared to its average volume of 1,028,120. The firm has a fifty day simple moving average of $169.04 and a 200-day simple moving average of $164.73. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87. The stock has a market cap of $35.09 billion, a P/E ratio of 43.34, a P/E/G ratio of 8.54 and a beta of 0.89.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its 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). Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company had revenue of $824.80 million for the quarter, compared to analyst estimates of $826.93 million. During the same period in the previous year, the firm posted $2.02 earnings per share. The firm's quarterly revenue was up 10.2% compared to the same quarter last year. Equities 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 disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 3.91%. The ex-dividend date of this dividend is Monday, December 16th. Extra Space Storage's dividend payout ratio (DPR) is 169.63%.

Analysts Set New Price Targets

EXR has been the subject of a number of recent research reports. Scotiabank reduced their price objective on shares of Extra Space Storage from $169.00 to $167.00 and set a "sector underperform" rating for the company in a research note on Monday, November 25th. StockNews.com cut Extra Space Storage from a "hold" rating to a "sell" rating in a research report on Thursday, October 31st. Barclays raised their price target on Extra Space Storage from $188.00 to $192.00 and gave the company an "overweight" rating in a research note on Monday, October 28th. Evercore ISI cut their price objective on Extra Space Storage from $170.00 to $168.00 and set an "in-line" rating for the company in a report on Monday, October 14th. Finally, Wells Fargo & Company reissued an "equal weight" rating and issued a $175.00 target price on shares of Extra Space Storage in a research note on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $171.36.

Insiders Place Their Bets

In other Extra Space Storage news, Director Kenneth M. Woolley sold 6,647 shares of the company's stock in a transaction on Friday, September 13th. The shares were sold at an average price of $177.23, for a total transaction of $1,178,047.81. Following the transaction, the director now owns 404,306 shares in the company, valued at approximately $71,655,152.38. This represents a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the transaction, the chief executive officer now owns 24,190 shares of the company's stock, valued at $4,318,398.80. This represents a 23.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,228 shares of company stock worth $3,023,957. 1.36% of the stock is currently owned by company insiders.

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.