Extra Space Storage Inc. (NYSE:EXR) Shares Acquired by National Bank of Canada FI

National Bank of Canada FI raised its holdings in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 285.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 226,132 shares of the real estate investment trust's stock after acquiring an additional 167,487 shares during the period. National Bank of Canada FI owned 0.11% of Extra Space Storage worth $40,747,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in EXR. EdgeRock Capital LLC purchased a new stake in Extra Space Storage in the second quarter valued at approximately $25,000. Centerpoint Advisors LLC purchased a new stake in shares of Extra Space Storage during the 2nd quarter valued at $27,000. Ashton Thomas Securities LLC purchased a new stake in shares of Extra Space Storage during the 3rd quarter valued at $33,000. Blue Trust Inc. increased its holdings in shares of Extra Space Storage by 540.5% during the 2nd quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust's stock worth $35,000 after buying an additional 200 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Extra Space Storage in the 3rd quarter worth $42,000. Hedge funds and other institutional investors own 99.11% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on EXR shares. Truist Financial lifted their price objective on Extra Space Storage from $167.00 to $168.00 and gave the company a "hold" rating in a research note on Thursday. 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. Wells Fargo & Company reissued an "equal weight" rating and issued a $175.00 price objective on shares of Extra Space Storage in a research report on Monday, October 21st. Jefferies Financial Group upgraded shares of Extra Space Storage from a "hold" rating to a "buy" rating and lifted their target price for the company from $162.00 to $204.00 in a report on Wednesday, September 18th. Finally, KeyCorp upped their price target on shares of Extra Space Storage from $172.00 to $178.00 and gave the stock an "overweight" rating in a research report on Monday, September 9th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $171.43.

Extra Space Storage Stock Up 0.6 %

EXR stock traded up $1.02 during midday trading on Monday, hitting $164.56. 997,761 shares of the company's stock were exchanged, compared to its average volume of 1,022,350. The firm has a 50 day moving average price of $167.84 and a 200-day moving average price of $165.23. Extra Space Storage Inc. has a 12-month low of $131.02 and a 12-month high of $184.87. The stock has a market capitalization of $34.88 billion, a price-to-earnings ratio of 43.08, a price-to-earnings-growth ratio of 8.23 and a beta of 0.89. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing analysts' consensus estimates 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 business posted $2.02 EPS. The firm's quarterly revenue was up 10.2% compared to the same quarter last year. On average, analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS 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. Stockholders of record on Monday, December 16th will be given a dividend of $1.62 per share. The ex-dividend date is Monday, December 16th. This represents a $6.48 annualized dividend and a dividend yield of 3.94%. Extra Space Storage's payout ratio is 169.63%.

Insider Buying and Selling

In other Extra Space Storage news, Director Diane Olmstead sold 3,081 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $164.56, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 completion of the transaction, the chief executive officer now directly owns 24,190 shares of the company's stock, valued at $4,318,398.80. This trade represents a 23.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,228 shares of company stock worth $3,023,957. Corporate insiders own 1.36% of the company's stock.

Extra Space Storage 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.