Extra Space Storage Inc. (NYSE:EXR) Shares Sold by KBC Group NV

KBC Group NV reduced its holdings in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,643 shares of the real estate investment trust's stock after selling 1,758 shares during the period. KBC Group NV owned approximately 0.07% of Extra Space Storage worth $23,434,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in Extra Space Storage in the 3rd quarter valued at about $33,000. Harvest Fund Management Co. Ltd purchased a new position in Extra Space Storage during the third quarter worth approximately $42,000. Continuum Advisory LLC boosted its stake in Extra Space Storage by 68.1% during the third quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust's stock worth $56,000 after buying an additional 126 shares during the last quarter. Sunbelt Securities Inc. boosted its stake in Extra Space Storage by 441.2% during the second quarter. Sunbelt Securities Inc. now owns 617 shares of the real estate investment trust's stock worth $96,000 after buying an additional 503 shares during the last quarter. Finally, DiNuzzo Private Wealth Inc. acquired a new stake in shares of Extra Space Storage in the 3rd quarter worth $129,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EXR. Wells Fargo & Company reissued an "equal weight" rating and issued a $175.00 price objective on shares of Extra Space Storage in a report on Monday, October 21st. Truist Financial increased their price target on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a "hold" rating in a research note on Thursday, December 5th. Barclays cut their price target on shares of Extra Space Storage from $192.00 to $184.00 and set an "overweight" rating for the company in a report on Monday, January 13th. Evercore ISI lowered their price objective on Extra Space Storage from $170.00 to $168.00 and set an "in-line" rating for the company in a research report on Monday, October 14th. Finally, StockNews.com upgraded Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $174.00.

Insiders Place Their Bets

In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the transaction, the chief executive officer now owns 16,690 shares in the company, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Diane Olmstead sold 3,081 shares of the company's stock in a transaction that occurred 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 sale, the director now owns 5,877 shares in the company, valued at $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 own 1.36% of the company's stock.

Extra Space Storage Trading Down 0.5 %

Shares of EXR traded down $0.73 during midday trading on Friday, hitting $153.98. 2,292,179 shares of the stock were exchanged, compared to its average volume of 1,151,321. The stock has a fifty day simple moving average of $154.80 and a 200 day simple moving average of $164.60. Extra Space Storage Inc. has a 52-week low of $131.02 and a 52-week high of $184.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The firm has a market cap of $32.64 billion, a P/E ratio of 40.31, a P/E/G ratio of 7.62 and a beta of 0.91.

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 earnings per share (EPS) 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 business had revenue of $824.80 million for the quarter, compared to analysts' expectations of $826.93 million. During the same quarter last year, the company earned $2.02 earnings per share. The firm's revenue for the quarter was up 10.2% on a year-over-year basis. On average, research analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $1.62 dividend. The ex-dividend date was Monday, December 16th. This represents a $6.48 annualized dividend and a yield of 4.21%. Extra Space Storage's dividend payout ratio is presently 169.63%.

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.