OVERSEA CHINESE BANKING Corp Ltd Acquires 38,825 Shares of Extra Space Storage Inc. (NYSE:EXR)

OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 335.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 50,402 shares of the real estate investment trust's stock after acquiring an additional 38,825 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Extra Space Storage were worth $9,082,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. EdgeRock Capital LLC acquired a new position in shares of Extra Space Storage in the second quarter valued at about $25,000. Centerpoint Advisors LLC bought a new stake in Extra Space Storage during the second quarter worth about $27,000. Ashton Thomas Securities LLC bought a new stake in Extra Space Storage during the third quarter worth about $33,000. Blue Trust Inc. lifted its position in Extra Space Storage by 540.5% during the second quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 200 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in Extra Space Storage by 2,760.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust's stock worth $44,000 after purchasing an additional 276 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Truist Financial increased their target price on shares of Extra Space Storage from $152.00 to $167.00 and gave the stock a "hold" rating in a report on Friday, August 16th. Wells Fargo & Company reissued an "equal weight" rating and issued a $175.00 price target on shares of Extra Space Storage in a research report on Monday, October 21st. Royal Bank of Canada assumed coverage on shares of Extra Space Storage in a research report on Tuesday, September 10th. They issued a "sector perform" rating and a $180.00 price target for the company. StockNews.com downgraded shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research report on Thursday, October 31st. Finally, Evercore ISI reduced their price target on shares of 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. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $171.50.

Insider Buying and Selling

In other Extra Space Storage news, EVP William N. Springer sold 2,000 shares of Extra Space Storage stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total transaction of $350,660.00. Following the completion of the transaction, the executive vice president now owns 11,919 shares of the company's stock, valued at $2,089,758.27. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Extra Space Storage news, EVP William N. Springer sold 2,000 shares of Extra Space Storage stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total transaction of $350,660.00. Following the completion of the transaction, the executive vice president now owns 11,919 shares of the company's stock, valued at $2,089,758.27. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the business's 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 directly owns 24,190 shares of the company's stock, valued at $4,318,398.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,970 shares of company stock valued at $3,367,307. 1.36% of the stock is owned by insiders.

Extra Space Storage Stock Performance

Shares of NYSE EXR traded down $2.91 during mid-day trading on Tuesday, reaching $162.57. 709,801 shares of the company's stock were exchanged, compared to its average volume of 1,036,075. The firm has a market capitalization of $34.46 billion, a price-to-earnings ratio of 43.32, a price-to-earnings-growth ratio of 6.31 and a beta of 0.87. Extra Space Storage Inc. has a 52 week low of $116.23 and a 52 week high of $184.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.20. The firm has a 50-day moving average price of $172.39 and a two-hundred day moving average price of $162.04.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $824.80 million during the quarter, compared to analysts' expectations of $826.93 million. During the same period last year, the business posted $2.02 EPS. The company's revenue was up 10.2% compared to the same quarter last year. Analysts predict that Extra Space Storage Inc. will post 8.08 EPS for the current year.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend was Monday, September 16th. Extra Space Storage's dividend payout ratio (DPR) is currently 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.