B. Metzler seel. Sohn & Co. Holding AG Purchases New Position in Extra Space Storage Inc. (NYSE:EXR)

B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Extra Space Storage Inc. (NYSE:EXR) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 6,350 shares of the real estate investment trust’s stock, valued at approximately $1,144,000.

Other institutional investors also recently modified their holdings of the company. EdgeRock Capital LLC purchased a new stake in shares of Extra Space Storage during the 2nd quarter valued at approximately $25,000. Centerpoint Advisors LLC purchased a new stake in shares of Extra Space Storage during the 2nd quarter valued at approximately $27,000. Ashton Thomas Securities LLC purchased a new stake in shares of Extra Space Storage during the 3rd quarter valued at approximately $33,000. Blue Trust Inc. lifted its stake in shares of Extra Space Storage by 540.5% during the 2nd quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 200 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Extra Space Storage by 2,760.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 276 shares in the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on EXR shares. Royal Bank of Canada started coverage on shares of Extra Space Storage in a research note on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 target price on the stock. Wells Fargo & Company reiterated an “equal weight” rating and issued a $175.00 target price on shares of Extra Space Storage in a research note on Monday, October 21st. KeyCorp increased their target price on shares of Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Truist Financial increased their target price on shares of Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Finally, Barclays increased their target price on shares of Extra Space Storage from $188.00 to $192.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $171.50.

Extra Space Storage Price Performance

EXR stock opened at $168.14 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. Extra Space Storage Inc. has a 52 week low of $125.32 and a 52 week high of $184.87. The firm’s fifty day moving average is $170.44 and its 200 day moving average is $163.38. The firm has a market cap of $35.64 billion, a P/E ratio of 44.02, a P/E/G ratio of 8.40 and a beta of 0.87.

Extra Space Storage (NYSE:EXR) last released its earnings results 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 business had revenue of $824.80 million for the quarter, compared to the consensus estimate of $826.93 million. During the same period in the prior year, the business posted $2.02 EPS. Extra Space Storage’s revenue for the quarter was up 10.2% on a year-over-year basis. Research analysts predict that Extra Space Storage Inc. will post 8.09 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.85%. The ex-dividend date is Monday, December 16th. Extra Space Storage’s dividend payout ratio is currently 169.63%.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, EVP William N. Springer sold 2,000 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total transaction of $350,660.00. Following the completion of the sale, the executive vice president now owns 11,919 shares of the company’s stock, valued at $2,089,758.27. This represents a 14.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 24,190 shares of the company’s stock, valued at $4,318,398.80. The trade was a 23.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,228 shares of company stock valued at $3,374,617. Insiders own 1.36% of the company’s stock.

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.