Stifel Financial Corp Decreases Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Stifel Financial Corp reduced its holdings in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 2.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 137,187 shares of the real estate investment trust's stock after selling 4,060 shares during the period. Stifel Financial Corp owned approximately 0.06% of Extra Space Storage worth $24,720,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Quantinno Capital Management LP grew its position in Extra Space Storage by 10.0% during the 3rd quarter. Quantinno Capital Management LP now owns 27,297 shares of the real estate investment trust's stock worth $4,919,000 after purchasing an additional 2,485 shares during the last quarter. Royal London Asset Management Ltd. lifted its stake in shares of Extra Space Storage by 3.4% in the 3rd quarter. Royal London Asset Management Ltd. now owns 86,078 shares of the real estate investment trust's stock worth $15,510,000 after acquiring an additional 2,849 shares during the period. IHT Wealth Management LLC acquired a new stake in shares of Extra Space Storage in the 3rd quarter worth $282,000. Investment Management Corp of Ontario lifted its stake in shares of Extra Space Storage by 46.2% in the 3rd quarter. Investment Management Corp of Ontario now owns 6,964 shares of the real estate investment trust's stock worth $1,255,000 after acquiring an additional 2,200 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in shares of Extra Space Storage by 1.7% in the 3rd quarter. Janus Henderson Group PLC now owns 29,117 shares of the real estate investment trust's stock worth $5,246,000 after acquiring an additional 500 shares during the period. 99.11% of the stock is owned by hedge funds and other institutional investors.

Extra Space Storage Price Performance

EXR traded up $0.97 during midday trading on Monday, reaching $164.51. 997,660 shares of the company's stock were exchanged, compared to its average volume of 1,022,350. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The stock has a market capitalization of $34.87 billion, a PE ratio of 42.81, a P/E/G ratio of 8.23 and a beta of 0.89. The business's 50-day moving average price is $168.16 and its 200 day moving average price is $165.07. Extra Space Storage Inc. has a 1-year low of $131.02 and a 1-year high of $184.87.

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 (EPS) for the quarter, missing analysts' consensus estimates of $2.03 by ($1.12). The business had revenue of $824.80 million for the quarter, compared to analyst estimates of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business's revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.02 EPS. As a group, equities analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $1.62 per share. The ex-dividend date is Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.94%. Extra Space Storage's dividend payout ratio (DPR) is presently 169.63%.

Insider Transactions at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction that occurred 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 directly owns 24,190 shares in the company, valued at approximately $4,318,398.80. The trade was a 23.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Diane Olmstead sold 3,081 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director now owns 5,877 shares of the company's stock, valued at approximately $967,119.12. The trade was a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,228 shares of company stock worth $3,023,957 over the last ninety days. 1.36% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

EXR has been the subject of several recent analyst reports. Truist Financial raised their target price on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a "hold" rating in a research note on Thursday. Wells Fargo & Company restated 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. KeyCorp raised their target price on shares of Extra Space Storage from $172.00 to $178.00 and gave the stock an "overweight" rating in a research note on Monday, September 9th. Barclays raised their price objective on shares of Extra Space Storage from $188.00 to $192.00 and gave the company an "overweight" rating in a research note on Monday, October 28th. Finally, 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. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Extra Space Storage currently has an average rating of "Hold" and a consensus target price of $171.43.

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.