Extra Space Storage Inc. (NYSE:EXR) Shares Purchased by State Street Corp

State Street Corp increased its position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 1.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,390,830 shares of the real estate investment trust's stock after acquiring an additional 227,006 shares during the quarter. State Street Corp owned approximately 6.32% of Extra Space Storage worth $2,412,894,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Gateway Investment Advisers LLC acquired a new position in shares of Extra Space Storage during the 2nd quarter valued at about $16,026,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Extra Space Storage by 53.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,738 shares of the real estate investment trust's stock valued at $1,824,000 after acquiring an additional 4,102 shares during the last quarter. Swedbank AB boosted its position in shares of Extra Space Storage by 4.5% during the 3rd quarter. Swedbank AB now owns 243,130 shares of the real estate investment trust's stock valued at $43,810,000 after acquiring an additional 10,408 shares during the last quarter. Czech National Bank lifted its position in Extra Space Storage by 8.5% in the second quarter. Czech National Bank now owns 40,346 shares of the real estate investment trust's stock valued at $6,270,000 after buying an additional 3,172 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Extra Space Storage by 724.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust's stock valued at $357,100,000 after buying an additional 1,741,320 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Extra Space Storage Stock Down 0.4 %

Shares of EXR stock traded down $0.63 during trading hours on Friday, reaching $163.01. 135,265 shares of the stock were exchanged, compared to its average volume of 1,020,290. The business's fifty day moving average is $168.43 and its two-hundred day moving average is $164.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. Extra Space Storage Inc. has a 12-month low of $131.02 and a 12-month high of $184.87. The firm has a market capitalization of $34.55 billion, a P/E ratio of 42.84, a P/E/G ratio of 8.33 and a beta of 0.89.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing the consensus estimate of $2.03 by ($1.12). The company had revenue of $824.80 million during the quarter, compared to analysts' expectations of $826.93 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.02 earnings per share. As a group, research analysts expect that Extra Space Storage Inc. will post 8.09 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $1.62 dividend. The ex-dividend date is Monday, December 16th. This represents a $6.48 annualized dividend and a yield of 3.98%. Extra Space Storage's dividend payout ratio is currently 169.63%.

Wall Street Analysts Forecast Growth

EXR has been the topic of a number of recent analyst reports. KeyCorp upped their target price on shares of Extra Space Storage from $172.00 to $178.00 and gave the company an "overweight" rating in a research report on Monday, September 9th. Jefferies Financial Group raised shares of Extra Space Storage from a "hold" rating to a "buy" rating and upped their target price for the company from $162.00 to $204.00 in a research report on Wednesday, September 18th. Barclays upped their target price on shares of Extra Space Storage from $188.00 to $192.00 and gave the company an "overweight" rating in a research 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, Evercore ISI decreased their target price on shares of Extra Space Storage from $170.00 to $168.00 and set an "in-line" rating on the stock in a research report on Monday, October 14th. Three equities 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 company's stock. According to MarketBeat, Extra Space Storage presently has a consensus rating of "Hold" and an average price target of $171.43.

Insider Buying and Selling at Extra Space Storage

In other news, Director Kenneth M. Woolley sold 6,647 shares of the firm's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $177.23, for a total transaction of $1,178,047.81. Following the transaction, the director now directly owns 404,306 shares in the company, valued at approximately $71,655,152.38. This trade represents a 1.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Diane Olmstead sold 3,081 shares of the firm'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 transaction, the director now owns 5,877 shares in the company, valued at approximately $967,119.12. This trade represents a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,228 shares of company stock worth $3,023,957 over the last three months. Insiders own 1.36% of the company's stock.

Extra Space Storage 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.