Caisse DE Depot ET Placement DU Quebec Sells 3,200 Shares of Extra Space Storage Inc. (NYSE:EXR)

Caisse DE Depot ET Placement DU Quebec decreased its holdings in Extra Space Storage Inc. (NYSE:EXR) by 7.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 41,964 shares of the real estate investment trust’s stock after selling 3,200 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Extra Space Storage were worth $7,561,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA boosted its position in Extra Space Storage by 4.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,549,231 shares of the real estate investment trust’s stock valued at $551,586,000 after acquiring an additional 157,763 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Extra Space Storage by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,127,012 shares of the real estate investment trust’s stock valued at $485,973,000 after purchasing an additional 45,717 shares in the last quarter. Diamond Hill Capital Management Inc. grew its stake in Extra Space Storage by 7.2% during the second quarter. Diamond Hill Capital Management Inc. now owns 2,965,638 shares of the real estate investment trust’s stock worth $460,890,000 after purchasing an additional 198,888 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Extra Space Storage by 4.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,366,107 shares of the real estate investment trust’s stock worth $426,349,000 after purchasing an additional 111,137 shares during the period. Finally, Daiwa Securities Group Inc. increased its holdings in Extra Space Storage by 10.4% in the third quarter. Daiwa Securities Group Inc. now owns 2,020,459 shares of the real estate investment trust’s stock worth $364,066,000 after purchasing an additional 189,949 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Price Performance

EXR opened at $169.66 on Tuesday. The firm’s fifty day moving average price is $169.37 and its two-hundred day moving average price is $164.64. The company has a market capitalization of $35.96 billion, a price-to-earnings ratio of 44.41, a P/E/G ratio of 8.61 and a beta of 0.87. 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 1 year low of $131.02 and a 1 year high of $184.87.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $826.93 million. During the same period in the previous year, the company posted $2.02 earnings per share. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, analysts anticipate that Extra Space Storage Inc. will post 8.09 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $1.62 dividend. The ex-dividend date is Monday, December 16th. This represents a $6.48 annualized dividend and a yield of 3.82%. Extra Space Storage’s dividend payout ratio is currently 169.63%.

Insider Buying and Selling at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the completion of the transaction, the chief executive officer now owns 24,190 shares in the company, valued at approximately $4,318,398.80. This represents a 23.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Diane Olmstead sold 3,081 shares of Extra Space Storage stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $164.56, for a total transaction of $507,009.36. Following the completion of the sale, the director now directly owns 5,877 shares in the company, valued at approximately $967,119.12. This represents a 34.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,228 shares of company stock worth $3,023,957 in the last quarter. 1.36% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EXR. Bank of America downgraded shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $172.00 to $155.00 in a research report on Monday, August 5th. Truist Financial lifted their price target 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. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Evercore ISI decreased their target price on 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. Finally, Barclays upped their price target on Extra Space Storage from $188.00 to $192.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $171.36.

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.