KBC Group NV Buys 123,298 Shares of Extra Space Storage Inc. (NYSE:EXR)

KBC Group NV raised its stake in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 351.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 158,401 shares of the real estate investment trust's stock after purchasing an additional 123,298 shares during the quarter. KBC Group NV owned 0.07% of Extra Space Storage worth $28,542,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of EXR. Empowered Funds LLC grew its position in shares of Extra Space Storage by 25.6% in the first quarter. Empowered Funds LLC now owns 3,192 shares of the real estate investment trust's stock valued at $469,000 after purchasing an additional 651 shares during the last quarter. QRG Capital Management Inc. raised its stake in shares of Extra Space Storage by 5.2% during the first quarter. QRG Capital Management Inc. now owns 1,588 shares of the real estate investment trust's stock valued at $233,000 after purchasing an additional 78 shares during the period. Bleakley Financial Group LLC boosted its position in Extra Space Storage by 10.5% in the 1st quarter. Bleakley Financial Group LLC now owns 1,652 shares of the real estate investment trust's stock valued at $243,000 after buying an additional 157 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in Extra Space Storage by 19.3% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 247,203 shares of the real estate investment trust's stock valued at $36,307,000 after purchasing an additional 40,055 shares in the last quarter. Finally, Intech Investment Management LLC increased its position in shares of Extra Space Storage by 138.7% in the 1st quarter. Intech Investment Management LLC now owns 5,405 shares of the real estate investment trust's stock worth $795,000 after purchasing an additional 3,141 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on EXR. KeyCorp lifted their price target on shares of Extra Space Storage from $172.00 to $178.00 and gave the company an "overweight" rating in a report on Monday, September 9th. Scotiabank upped their target price on Extra Space Storage from $159.00 to $169.00 and gave the company a "sector underperform" rating in a report on Thursday, August 22nd. Barclays raised their price target on Extra Space Storage from $188.00 to $192.00 and gave the stock an "overweight" rating in a report on Monday, October 28th. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $175.00 target price on shares of Extra Space Storage in a research report on Monday, October 21st. Finally, Bank of America cut Extra Space Storage from a "neutral" rating to an "underperform" rating and cut their price target for the company from $172.00 to $155.00 in a report on Monday, August 5th. Three research 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. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $171.50.

Extra Space Storage Price Performance

Extra Space Storage stock traded up $1.13 during mid-day trading on Friday, hitting $164.56. The company's stock had a trading volume of 1,131,986 shares, compared to its average volume of 1,037,505. Extra Space Storage Inc. has a twelve month low of $125.32 and a twelve month high of $184.87. The stock's fifty day moving average price is $171.50 and its two-hundred day moving average price is $162.46. The stock has a market capitalization of $34.88 billion, a P/E ratio of 43.08, a P/E/G ratio of 8.26 and a beta of 0.87. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77.

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). 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 last year, the firm earned $2.02 earnings per share. The firm's revenue for the quarter was up 10.2% on a year-over-year basis. Research analysts forecast that Extra Space Storage Inc. will post 8.09 earnings per share for the current year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.94%. Extra Space Storage's payout ratio is 169.63%.

Insider Buying and Selling

In other Extra Space Storage news, EVP William N. Springer sold 2,000 shares of the business's stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total value of $350,660.00. Following the completion of the transaction, the executive vice president now directly owns 11,919 shares of the company's stock, valued at approximately $2,089,758.27. The trade was a 14.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total value of $1,338,900.00. Following the transaction, 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. Insiders have sold a total of 18,970 shares of company stock valued at $3,367,307 over the last three months. 1.36% of the stock is owned by corporate insiders.

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.