Toronto Dominion Bank Sells 36,418 Shares of Extra Space Storage Inc. (NYSE:EXR)

Toronto Dominion Bank trimmed its position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 17.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 167,420 shares of the real estate investment trust's stock after selling 36,418 shares during the period. Toronto Dominion Bank owned 0.08% of Extra Space Storage worth $30,167,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of EXR. EdgeRock Capital LLC bought a new position in shares of Extra Space Storage during the 2nd quarter worth $25,000. Centerpoint Advisors LLC purchased a new stake in Extra Space Storage during the second quarter valued at about $27,000. Ashton Thomas Securities LLC bought a new position in Extra Space Storage during the third quarter worth about $33,000. Blue Trust Inc. increased its stake in shares of Extra Space Storage by 540.5% in 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 in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Extra Space Storage in the third quarter valued at approximately $42,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Extra Space Storage Price Performance

Shares of NYSE:EXR traded down $0.60 during trading on Thursday, reaching $158.92. The company had a trading volume of 869,875 shares, compared to its average volume of 1,021,992. The company has a fifty day moving average of $166.78 and a two-hundred day moving average of $165.27. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $33.69 billion, a P/E ratio of 41.60, a price-to-earnings-growth ratio of 8.23 and a beta of 0.89. 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 released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing analysts' consensus estimates of $2.03 by ($1.12). Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The firm had revenue of $824.80 million during the quarter, compared to the consensus estimate of $826.93 million. During the same period in the prior year, the company earned $2.02 EPS. The firm's revenue was up 10.2% compared to the same quarter last year. Equities research analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $1.62 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a yield of 4.08%. Extra Space Storage's payout ratio is 169.63%.

Insiders Place Their Bets

In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the transaction, the chief executive officer now directly owns 24,190 shares in the company, valued at $4,318,398.80. This trade represents a 23.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth M. Woolley sold 6,647 shares of the business'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 value of $1,178,047.81. Following the completion of the sale, the director now owns 404,306 shares of the company's stock, valued at $71,655,152.38. The trade was a 1.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,228 shares of company stock valued at $3,023,957 over the last quarter. 1.36% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on EXR. Truist Financial raised their price objective on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a "hold" rating in a report on Thursday, December 5th. StockNews.com lowered Extra Space Storage from a "hold" rating to a "sell" rating in a report on Thursday, October 31st. Evercore ISI decreased their price objective on Extra Space Storage from $170.00 to $168.00 and set an "in-line" rating on the stock in a research note on Monday, October 14th. Royal Bank of Canada started coverage on Extra Space Storage in a report on Tuesday, September 10th. They set a "sector perform" rating and a $180.00 price objective on the stock. Finally, Jefferies Financial Group raised Extra Space Storage from a "hold" rating to a "buy" rating and lifted their target price for the company from $162.00 to $204.00 in a report on Wednesday, September 18th. Three research 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $171.43.

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.