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

Swiss National Bank lessened its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 4.7% during the 4th quarter, according to the company in 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 period. Swiss National Bank owned approximately 0.28% of Extra Space Storage worth $89,555,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Golden State Wealth Management LLC purchased a new stake in shares of Extra Space Storage during the fourth quarter valued at $25,000. Ashton Thomas Securities LLC acquired a new stake in Extra Space Storage during the 3rd quarter worth about $33,000. Harvest Fund Management Co. Ltd purchased a new stake in Extra Space Storage during the 3rd quarter valued at about $42,000. Quent Capital LLC raised its stake in shares of Extra Space Storage by 89.0% in the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 154 shares during the last quarter. Finally, Asset Planning Inc purchased a new position in shares of Extra Space Storage in the fourth quarter worth about $52,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on EXR shares. Barclays cut their price target on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a report on Wednesday. The Goldman Sachs Group reissued a “buy” rating on shares of Extra Space Storage in a report on Thursday, March 6th. Wells Fargo & Company lowered their price target on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday, February 21st. Scotiabank decreased their price objective on Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating for the company in a report on Wednesday, March 5th. Finally, Truist Financial raised their target price on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Extra Space Storage currently has an average rating of “Hold” and an average target price of $171.09.

Insider Buying and Selling

In other 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 value of $1,110,075.00. Following the sale, the chief executive officer now directly 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 legal filing with the SEC, which is available at this link. Also, EVP William N. Springer sold 1,220 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $152.66, for a total value of $186,245.20. Following the sale, the executive vice president now owns 20,158 shares of the company’s stock, valued at $3,077,320.28. The trade was a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,392 shares of company stock worth $1,396,515. Insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Up 0.4 %

Extra Space Storage stock opened at $145.03 on Friday. Extra Space Storage Inc. has a 12 month low of $131.02 and a 12 month high of $184.87. The stock has a market capitalization of $30.75 billion, a PE ratio of 37.97, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90. 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 business has a 50 day simple moving average of $152.94 and a 200-day simple moving average of $162.21.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, topping the consensus estimate of $1.10 by $0.93. The company had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. On average, analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date is Friday, March 14th. Extra Space Storage’s dividend payout ratio is presently 160.40%.

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.