Extra Space Storage Inc. (NYSE:EXR) Stock Position Raised by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its stake in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 4.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,366,107 shares of the real estate investment trust's stock after buying an additional 111,137 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.12% of Extra Space Storage worth $426,349,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EXR. Gateway Investment Advisers LLC purchased a new position in shares of Extra Space Storage in the second quarter valued at $16,026,000. MADDEN SECURITIES Corp acquired a new position in shares of Extra Space Storage in the second quarter worth about $1,002,000. Tidal Investments LLC boosted its holdings in Extra Space Storage by 262.5% in the first quarter. Tidal Investments LLC now owns 12,967 shares of the real estate investment trust's stock valued at $1,906,000 after purchasing an additional 9,390 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Extra Space Storage by 53.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,738 shares of the real estate investment trust's stock valued at $1,824,000 after purchasing an additional 4,102 shares in the last quarter. Finally, Czech National Bank increased its holdings in Extra Space Storage by 8.5% during 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 last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Stock Performance

Shares of EXR traded up $1.35 during mid-day trading on Friday, reaching $168.23. 193,615 shares of the company's stock traded hands, compared to its average volume of 1,029,079. Extra Space Storage Inc. has a 12 month low of $125.32 and a 12 month high of $184.87. The stock has a market capitalization of $35.66 billion, a P/E ratio of 43.80, a price-to-earnings-growth ratio of 8.34 and a beta of 0.87. The business's 50-day moving average price is $170.64 and its 200-day moving average price is $163.21. 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 announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share 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 net margin of 25.35% and a return on equity of 5.51%. The firm's revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.02 EPS. Equities analysts predict that Extra Space Storage Inc. will post 8.09 earnings per share for the current year.

Extra Space Storage Announces Dividend

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

Insider Transactions at Extra Space Storage

In other 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 transaction, the director now directly owns 5,877 shares in the company, valued at approximately $967,119.12. This trade 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 this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total value of $1,338,900.00. Following the completion of the sale, the chief executive officer now owns 24,190 shares of the company's stock, valued at approximately $4,318,398.80. This trade represents a 23.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 19,228 shares of company stock valued at $3,374,617. Company insiders own 1.36% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on EXR. StockNews.com cut Extra Space Storage from a "hold" rating to a "sell" rating in a research note on Thursday, October 31st. Scotiabank boosted their target price on shares of Extra Space Storage from $159.00 to $169.00 and gave the stock a "sector underperform" rating in a research report on Thursday, August 22nd. Evercore ISI reduced their price target on shares of Extra Space Storage from $170.00 to $168.00 and set an "in-line" rating on the stock in a research report on Monday, October 14th. Truist Financial boosted their price objective on Extra Space Storage from $152.00 to $167.00 and gave the company a "hold" rating in a report on Friday, August 16th. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating and set a $175.00 target price on shares of Extra Space Storage in a report on Monday, October 21st. Three equities 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $171.50.

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.