BI Asset Management Fondsmaeglerselskab A S Cuts Holdings in Extra Space Storage Inc $EXR

BI Asset Management Fondsmaeglerselskab A S lessened its stake in Extra Space Storage Inc (NYSE:EXR) by 9.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,948 shares of the real estate investment trust’s stock after selling 830 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Extra Space Storage were worth $1,180,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Hsbc Holdings PLC lifted its holdings in shares of Extra Space Storage by 1.0% in the 1st quarter. Hsbc Holdings PLC now owns 663,885 shares of the real estate investment trust’s stock worth $98,432,000 after acquiring an additional 6,652 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Extra Space Storage in the 1st quarter worth approximately $2,155,000. Korea Investment CORP lifted its holdings in shares of Extra Space Storage by 8.9% in the 1st quarter. Korea Investment CORP now owns 132,581 shares of the real estate investment trust’s stock worth $19,687,000 after acquiring an additional 10,785 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Extra Space Storage by 1.7% in the 1st quarter. Northern Trust Corp now owns 2,922,828 shares of the real estate investment trust’s stock worth $434,011,000 after acquiring an additional 47,779 shares during the last quarter. Finally, CacheTech Inc. lifted its holdings in shares of Extra Space Storage by 3.1% in the 1st quarter. CacheTech Inc. now owns 5,756 shares of the real estate investment trust’s stock worth $855,000 after acquiring an additional 175 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.

Extra Space Storage Stock Down 0.5%

Shares of NYSE EXR opened at $139.0050 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.88. Extra Space Storage Inc has a 12 month low of $121.03 and a 12 month high of $184.87. The firm has a market capitalization of $29.50 billion, a PE ratio of 30.15, a price-to-earnings-growth ratio of 3.38 and a beta of 1.07. The firm has a fifty day simple moving average of $145.34 and a two-hundred day simple moving average of $146.90.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.05 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.01). Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%.The company had revenue of $841.62 million during the quarter, compared to the consensus estimate of $719.43 million. During the same quarter last year, the company posted $2.06 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. Equities analysts expect that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.7%. Extra Space Storage’s dividend payout ratio (DPR) is presently 140.56%.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 27,260 shares in the company, valued at approximately $4,098,541. This represents a 21.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

EXR has been the subject of a number of recent research reports. Royal Bank Of Canada lowered their price objective on shares of Extra Space Storage from $160.00 to $148.00 and set a “sector perform” rating for the company in a report on Monday, August 4th. Barclays lowered their price objective on shares of Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Evercore ISI lowered their price objective on shares of Extra Space Storage from $148.00 to $146.00 and set an “in-line” rating for the company in a report on Monday, August 4th. BNP Paribas upgraded shares of Extra Space Storage to a “hold” rating in a report on Tuesday, June 24th. Finally, Scotiabank upped their price target on shares of Extra Space Storage from $149.00 to $166.00 and gave the company a “sector outperform” rating in a report on Monday, May 12th. Six equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Extra Space Storage has an average rating of “Hold” and a consensus price target of $153.86.

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.