National Bank of Canada FI Cuts Position in Extra Space Storage Inc. (NYSE:EXR)

National Bank of Canada FI cut its position in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 47.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,871 shares of the real estate investment trust's stock after selling 107,261 shares during the quarter. National Bank of Canada FI owned about 0.06% of Extra Space Storage worth $17,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new position in shares of Extra Space Storage during the 4th quarter valued at about $25,000. Harbour Investments Inc. grew its holdings in shares of Extra Space Storage by 90.9% during the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 80 shares during the period. Quent Capital LLC grew its stake in Extra Space Storage by 89.0% in the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust's stock worth $49,000 after purchasing an additional 154 shares during the period. Asset Planning Inc bought a new position in shares of Extra Space Storage in the 4th quarter worth about $52,000. Finally, Kestra Investment Management LLC bought a new position in shares of Extra Space Storage during the fourth quarter valued at approximately $54,000. Institutional investors own 99.11% of the company's stock.

Extra Space Storage Price Performance

NYSE EXR traded up $8.99 during mid-day trading on Wednesday, hitting $135.60. The stock had a trading volume of 1,863,645 shares, compared to its average volume of 1,065,270. The firm's 50 day moving average is $149.41 and its 200 day moving average is $157.30. 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 $28.78 billion, a price-to-earnings ratio of 35.50, a PEG ratio of 7.76 and a beta of 0.96. Extra Space Storage Inc. has a twelve month low of $121.03 and a twelve month high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.93. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The firm had revenue of $821.90 million for the quarter, compared to the consensus estimate of $707.34 million. Equities research analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $1.62 dividend. The ex-dividend date was Friday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.78%. Extra Space Storage's dividend payout ratio is presently 160.40%.

Wall Street Analysts Forecast Growth

EXR has been the topic of several recent analyst reports. Mizuho assumed coverage on Extra Space Storage in a research report on Wednesday. They set an "outperform" rating and a $141.00 price objective on the stock. Royal Bank of Canada cut their price target on Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group reissued a "buy" rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Barclays decreased their target price on Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 12th. Finally, Wells Fargo & Company dropped their price objective on shares of Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating for the company in a report on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $167.25.

Insider Buying and Selling

In other news, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $152.66, for a total transaction of $186,245.20. Following the sale, the executive vice president now owns 20,158 shares of the company's stock, valued at approximately $3,077,320.28. The trade was a 5.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total value of $1,105,875.00. Following the completion of the transaction, the chief executive officer now owns 9,190 shares of the company's stock, valued at $1,355,065.50. The trade was a 44.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,392 shares of company stock worth $1,392,315. 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.