Extra Space Storage Inc. (NYSE:EXR) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 724.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,981,799 shares of the real estate investment trust's stock after buying an additional 1,741,320 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.93% of Extra Space Storage worth $357,100,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in EXR. EdgeRock Capital LLC bought a new position in shares of Extra Space Storage during the 2nd quarter valued at approximately $25,000. Centerpoint Advisors LLC purchased a new stake in Extra Space Storage during the second quarter valued at $27,000. Ashton Thomas Securities LLC bought a new position in Extra Space Storage during the third quarter valued at $33,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Extra Space Storage in the 3rd quarter worth $42,000. Finally, Blue Trust Inc. increased its holdings in shares of Extra Space Storage by 540.5% in the 2nd quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust's stock worth $35,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company's stock.

Extra Space Storage Stock Down 0.9 %

Shares of NYSE EXR traded down $1.47 during midday trading on Friday, reaching $171.21. 1,273,975 shares of the company's stock traded hands, compared to its average volume of 1,029,580. The company has a market cap of $36.29 billion, a price-to-earnings ratio of 44.82, a P/E/G ratio of 8.69 and a beta of 0.87. The stock's 50 day simple moving average is $169.64 and its 200-day simple moving average is $164.31. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a one year low of $129.23 and a one year high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last released 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). 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 for the quarter, compared to analysts' expectations of $826.93 million. During the same period in the previous year, the company posted $2.02 earnings per share. The business's quarterly revenue was up 10.2% compared to the same quarter last year. On average, analysts predict that Extra Space Storage Inc. will post 8.09 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $1.62 per share. The ex-dividend date is Monday, December 16th. This represents a $6.48 annualized dividend and a yield of 3.78%. Extra Space Storage's dividend payout ratio (DPR) is 169.63%.

Analyst Ratings Changes

A number of research analysts recently commented on EXR shares. Evercore ISI lowered 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 report on Monday, October 14th. StockNews.com downgraded Extra Space Storage from a "hold" rating to a "sell" rating in a research report on Thursday, October 31st. KeyCorp raised their price target on Extra Space Storage from $172.00 to $178.00 and gave the stock an "overweight" rating in a research report on Monday, September 9th. Jefferies Financial Group upgraded shares of Extra Space Storage from a "hold" rating to a "buy" rating and boosted their price objective for the company from $162.00 to $204.00 in a research report on Wednesday, September 18th. Finally, Truist Financial increased their target price on shares of Extra Space Storage from $152.00 to $167.00 and gave the company a "hold" rating in a research note on Friday, August 16th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $171.36.

Insider Activity at Extra Space Storage

In other news, Director Kenneth M. Woolley sold 6,647 shares of the business's stock in a transaction 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 sale, the director now directly owns 404,306 shares of the company's stock, valued at $71,655,152.38. The trade was a 1.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Diane Olmstead sold 3,081 shares of the company's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $164.56, for a total value of $507,009.36. Following the completion of the transaction, the director now directly owns 5,877 shares in the company, valued at approximately $967,119.12. The trade was 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 valued at $3,023,957 in the last ninety days. Corporate 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.