Natixis Advisors LLC Increases Stake in Extra Space Storage Inc. (NYSE:EXR)

Natixis Advisors LLC boosted its stake in Extra Space Storage Inc. (NYSE:EXR) by 2.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 108,688 shares of the real estate investment trust’s stock after purchasing an additional 2,095 shares during the period. Natixis Advisors LLC owned about 0.05% of Extra Space Storage worth $19,585,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. EdgeRock Capital LLC purchased a new position in Extra Space Storage in the 2nd quarter worth approximately $25,000. Centerpoint Advisors LLC bought a new stake in shares of Extra Space Storage in the 2nd quarter worth approximately $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Extra Space Storage in the 3rd quarter worth approximately $33,000. Blue Trust Inc. grew its position 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. Finally, Whittier Trust Co. of Nevada Inc. grew its position in shares of Extra Space Storage by 2,760.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 276 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. KeyCorp lifted their price objective 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 Extra Space Storage from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $162.00 to $204.00 in a research report on Wednesday, September 18th. Barclays lifted their price target on Extra Space Storage from $188.00 to $192.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Scotiabank lifted their price target on Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a research report on Thursday, August 22nd. Finally, Evercore ISI dropped their price target on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a research report on Monday, October 14th. Three 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. Based on data from MarketBeat, Extra Space Storage currently has an average rating of “Hold” and a consensus target price of $171.50.

Insider Transactions at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s 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 sale, the chief executive officer now directly owns 24,190 shares in the company, valued at approximately $4,318,398.80. This trade represents a 23.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kenneth M. Woolley sold 6,647 shares of Extra Space Storage stock in a transaction dated 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 owns 404,306 shares of the company’s stock, valued at approximately $71,655,152.38. This represents a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,051 shares of company stock worth $3,874,316 over the last 90 days. 1.36% of the stock is currently owned by company insiders.

Extra Space Storage Stock Performance

NYSE EXR opened at $165.45 on Wednesday. The firm has a market cap of $35.07 billion, a price-to-earnings ratio of 43.31, a price-to-earnings-growth ratio of 8.29 and a beta of 0.87. The business has a 50-day moving average price of $171.30 and a 200-day moving average price of $163.00. 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 twelve month low of $125.32 and a twelve month high of $184.87.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($1.12). The business had revenue of $824.80 million during 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%. Extra Space Storage’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.02 EPS. As a group, equities research analysts predict that Extra Space Storage Inc. will post 8.09 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a $1.62 dividend. The ex-dividend date is Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.92%. Extra Space Storage’s payout ratio is currently 169.63%.

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.