Extra Space Storage Inc. (NYSE:EXR) Shares Sold by National Pension Service

National Pension Service lowered its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 5.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 314,349 shares of the real estate investment trust’s stock after selling 19,516 shares during the period. National Pension Service owned 0.15% of Extra Space Storage worth $47,027,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of EXR. Golden State Wealth Management LLC acquired a new stake in Extra Space Storage during the 4th quarter worth $25,000. Ashton Thomas Securities LLC purchased a new position in Extra Space Storage during the 3rd quarter worth $33,000. Harvest Fund Management Co. Ltd purchased a new position in Extra Space Storage during the 3rd quarter worth $42,000. Quent Capital LLC raised its position in Extra Space Storage by 89.0% during the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 154 shares during the last quarter. Finally, Asset Planning Inc purchased a new position in Extra Space Storage during the 4th quarter worth $52,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $153.50 on Friday. Extra Space Storage Inc. has a 12-month low of $131.02 and a 12-month high of $184.87. The stock has a market capitalization of $32.54 billion, a P/E ratio of 40.18, a P/E/G ratio of 7.76 and a beta of 0.91. The firm’s 50-day moving average is $152.16 and its two-hundred day moving average is $163.55. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23.

Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.93. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business had revenue of $821.90 million for the quarter, compared to analysts’ expectations of $707.34 million. Equities analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $1.62 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.22%. Extra Space Storage’s dividend payout ratio is presently 160.40%.

Insider Buying and Selling

In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 directly owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.36% of the company’s stock.

Analyst Upgrades and Downgrades

EXR has been the subject of a number of analyst reports. Truist Financial upped their price objective on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Scotiabank upgraded shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective for the company in a research report on Friday, January 10th. Royal Bank of Canada cut their price objective on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a research report on Thursday. StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. Finally, Barclays cut their price target on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $171.55.

About Extra Space Storage

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.