Swiss National Bank Decreases Stake in Extra Space Storage Inc. (NYSE:EXR)

Swiss National Bank cut its holdings in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 4.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 598,627 shares of the real estate investment trust's stock after selling 29,700 shares during the quarter. Swiss National Bank owned 0.28% of Extra Space Storage worth $89,555,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC grew its holdings in Extra Space Storage by 245.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 866 shares of the real estate investment trust's stock worth $130,000 after acquiring an additional 615 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in Extra Space Storage by 11.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 2,818 shares of the real estate investment trust's stock worth $422,000 after buying an additional 292 shares in the last quarter. HighTower Advisors LLC grew its position in Extra Space Storage by 2.5% during the fourth quarter. HighTower Advisors LLC now owns 45,550 shares of the real estate investment trust's stock valued at $6,814,000 after buying an additional 1,130 shares during the period. AGF Management Ltd. raised its position in shares of Extra Space Storage by 22.4% in the fourth quarter. AGF Management Ltd. now owns 3,760 shares of the real estate investment trust's stock worth $562,000 after acquiring an additional 688 shares during the period. Finally, GC Wealth Management RIA LLC boosted its stake in shares of Extra Space Storage by 24.8% during the 4th quarter. GC Wealth Management RIA LLC now owns 3,163 shares of the real estate investment trust's stock worth $473,000 after acquiring an additional 629 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on EXR shares. Truist Financial increased their price target on Extra Space Storage from $167.00 to $168.00 and gave the stock a "hold" rating in a research report on Thursday, December 5th. Scotiabank decreased their target price on Extra Space Storage from $167.00 to $165.00 and set a "sector perform" rating on the stock in a research report on Wednesday, March 5th. Barclays cut their price target on shares of Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating for the company in a report on Wednesday, March 12th. Royal Bank of Canada cut their price objective on Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating for the company in a research note on Thursday, February 27th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Extra Space Storage in a report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Extra Space Storage presently has an average rating of "Hold" and an average price target of $171.09.

Extra Space Storage Trading Down 0.8 %

Shares of Extra Space Storage stock traded down $1.22 during mid-day trading on Wednesday, hitting $146.71. The stock had a trading volume of 1,192,127 shares, compared to its average volume of 1,003,756. The firm has a market cap of $31.10 billion, a P/E ratio of 38.40, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average of $152.88 and a two-hundred day moving average of $161.60. Extra Space Storage Inc. has a 12-month low of $131.02 and a 12-month high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $707.34 million. Sell-side analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $1.62 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.42%. Extra Space Storage's dividend payout ratio is currently 160.40%.

Insider Activity at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 of the company's stock, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph J. Bonner sold 672 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $149.10, for a total transaction of $100,195.20. Following the sale, the director now directly owns 4,557 shares in the company, valued at approximately $679,448.70. The trade was a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,392 shares of company stock worth $1,396,515. 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.