Extra Space Storage Inc (NYSE:EXR) Shares Acquired by National Bank of Canada FI

National Bank of Canada FI lifted its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 42.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 169,710 shares of the real estate investment trust’s stock after buying an additional 50,839 shares during the period. National Bank of Canada FI’s holdings in Extra Space Storage were worth $25,200,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP lifted its stake in shares of Extra Space Storage by 156.1% during the fourth quarter. Quarry LP now owns 356 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 217 shares during the period. Golden State Wealth Management LLC lifted its position in Extra Space Storage by 147.0% during the first quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 241 shares during the period. Parvin Asset Management LLC acquired a new position in Extra Space Storage during the fourth quarter valued at $62,000. Wayfinding Financial LLC acquired a new position in Extra Space Storage during the first quarter valued at $76,000. Finally, Avalon Trust Co acquired a new position in Extra Space Storage during the first quarter valued at $79,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $150.35, for a total value of $1,127,625.00. Following the sale, the chief executive officer owned 27,260 shares in the company, valued at $4,098,541. This trade represents a 21.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.36% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on EXR. Benchmark decreased their target price on shares of Extra Space Storage from $61.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, May 13th. Mizuho boosted their target price on shares of Extra Space Storage from $141.00 to $153.00 and gave the company an “outperform” rating in a research report on Wednesday, May 28th. JPMorgan Chase & Co. boosted their target price on shares of Extra Space Storage from $160.00 to $162.00 and gave the company a “neutral” rating in a research report on Friday, June 13th. Wall Street Zen upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Wednesday, April 30th. Finally, Bank of America boosted their target price on shares of Extra Space Storage from $155.00 to $161.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Extra Space Storage has a consensus rating of “Hold” and a consensus price target of $155.85.

Extra Space Storage Stock Down 1.4%

Shares of NYSE EXR opened at $136.40 on Monday. The company’s 50-day simple moving average is $147.69 and its 200-day simple moving average is $147.84. Extra Space Storage Inc has a 52-week low of $121.03 and a 52-week high of $184.87. The firm has a market cap of $28.95 billion, a price-to-earnings ratio of 29.59, a price-to-earnings-growth ratio of 3.31 and a beta of 1.07. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.88.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.01). Extra Space Storage had a net margin of 29.51% and a return on equity of 6.69%. The company had revenue of $841.62 million during the quarter, compared to analyst estimates of $719.43 million. During the same quarter last year, the business earned $2.06 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts predict that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a $1.62 dividend. The ex-dividend date was Monday, June 16th. This represents a $6.48 annualized dividend and a dividend yield of 4.8%. Extra Space Storage’s dividend payout ratio (DPR) is 140.56%.

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.