Czech National Bank Grows Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Czech National Bank lifted its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 6.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 45,963 shares of the real estate investment trust’s stock after acquiring an additional 2,791 shares during the period. Czech National Bank’s holdings in Extra Space Storage were worth $6,876,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of EXR. Pathway Financial Advisers LLC grew its position in Extra Space Storage by 17,832.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust’s stock worth $363,783,000 after purchasing an additional 2,007,626 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Extra Space Storage by 724.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust’s stock valued at $357,100,000 after buying an additional 1,741,320 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of Extra Space Storage by 20.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,877,100 shares of the real estate investment trust’s stock valued at $291,720,000 after acquiring an additional 319,965 shares during the period. Mizuho Securities USA LLC raised its stake in Extra Space Storage by 1,664.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 288,094 shares of the real estate investment trust’s stock worth $51,912,000 after acquiring an additional 271,765 shares during the last quarter. Finally, Hamlin Capital Management LLC raised its stake in Extra Space Storage by 44.8% in the 3rd quarter. Hamlin Capital Management LLC now owns 766,043 shares of the real estate investment trust’s stock worth $138,033,000 after acquiring an additional 236,908 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EXR. Wells Fargo & Company reissued an “equal weight” rating and issued a $175.00 price objective on shares of Extra Space Storage in a report on Monday, October 21st. Evercore ISI cut their price target on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a report on Monday, October 14th. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Jefferies Financial Group raised shares of Extra Space Storage from a “hold” rating to a “buy” rating and upped their price objective for the company from $162.00 to $204.00 in a report on Wednesday, September 18th. Finally, Scotiabank raised shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 target price for the company in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $171.25.

Extra Space Storage Trading Up 0.9 %

EXR stock opened at $148.68 on Wednesday. Extra Space Storage Inc. has a 52-week low of $131.02 and a 52-week high of $184.87. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The firm has a market cap of $31.52 billion, a P/E ratio of 38.92, a PEG ratio of 7.96 and a beta of 0.91. The company’s 50-day simple moving average is $158.06 and its 200-day simple moving average is $165.04.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results 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). The business had revenue of $824.80 million for the quarter, compared to analysts’ expectations of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.02 EPS. As a group, equities analysts forecast that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend was Monday, December 16th. Extra Space Storage’s dividend payout ratio is presently 169.63%.

Insider Buying and Selling at Extra Space Storage

In related news, Director Diane Olmstead sold 3,081 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $164.56, for a total transaction of $507,009.36. Following the completion of the transaction, the director now owns 5,877 shares in the company, valued at $967,119.12. This represents a 34.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the business’s 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 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 disclosure for this sale can be found here. 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.