KBC Group NV Has $23.43 Million Position in Extra Space Storage Inc. (NYSE:EXR)

KBC Group NV trimmed its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 156,643 shares of the real estate investment trust’s stock after selling 1,758 shares during the quarter. KBC Group NV owned approximately 0.07% of Extra Space Storage worth $23,434,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. boosted its position in Extra Space Storage by 131.9% during the 4th quarter. Blue Trust Inc. now owns 2,078 shares of the real estate investment trust’s stock worth $311,000 after buying an additional 1,182 shares during the period. Gradient Investments LLC raised its stake in shares of Extra Space Storage by 5.6% during the fourth quarter. Gradient Investments LLC now owns 199,393 shares of the real estate investment trust’s stock valued at $29,829,000 after acquiring an additional 10,619 shares during the last quarter. Curated Wealth Partners LLC lifted its holdings in shares of Extra Space Storage by 3.6% during the fourth quarter. Curated Wealth Partners LLC now owns 4,838 shares of the real estate investment trust’s stock worth $724,000 after purchasing an additional 170 shares during the period. Exchange Traded Concepts LLC grew its stake in shares of Extra Space Storage by 13.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 861 shares of the real estate investment trust’s stock worth $129,000 after purchasing an additional 104 shares during the last quarter. Finally, New Century Financial Group LLC acquired a new stake in Extra Space Storage in the fourth quarter valued at $238,000. 99.11% of the stock is currently owned by institutional investors.

Extra Space Storage Stock Performance

Shares of EXR opened at $155.02 on Wednesday. The stock has a 50-day moving average of $155.79 and a 200-day moving average of $164.86. Extra Space Storage Inc. has a one year low of $131.02 and a one year high of $184.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The company has a market cap of $32.86 billion, a PE ratio of 40.58, a P/E/G ratio of 7.48 and a beta of 0.91.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data 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 the consensus estimate of $826.93 million. During the same quarter in the prior year, the firm earned $2.02 EPS. The company’s revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a dividend of $1.62 per share. The ex-dividend date was Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a yield of 4.18%. Extra Space Storage’s dividend payout ratio (DPR) is presently 169.63%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday. Scotiabank upgraded Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 target price on the stock in a report on Friday, January 10th. Truist Financial raised their price target 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. Barclays reduced their price objective on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $175.00 target price on shares of Extra Space Storage in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Extra Space Storage has an average rating of “Hold” and an average price target of $171.25.

Insiders Place Their Bets

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the transaction, the chief executive officer now owns 16,690 shares of the company’s stock, valued at $2,470,286.90. The trade was a 31.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Diane Olmstead sold 3,081 shares of the 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 sale, the director now directly owns 5,877 shares of the company’s stock, valued at $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. Corporate insiders own 1.36% of the company’s stock.

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.