National Bank of Canada FI Sells 107,261 Shares of Extra Space Storage Inc. (NYSE:EXR)

National Bank of Canada FI lowered its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 47.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 118,871 shares of the real estate investment trust’s stock after selling 107,261 shares during the period. National Bank of Canada FI owned approximately 0.06% of Extra Space Storage worth $17,783,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of EXR. Norges Bank bought a new stake in shares of Extra Space Storage in the fourth quarter worth about $938,647,000. Manning & Napier Advisors LLC raised its holdings in Extra Space Storage by 1,127.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust’s stock worth $116,985,000 after buying an additional 718,266 shares during the period. Cbre Investment Management Listed Real Assets LLC lifted its stake in Extra Space Storage by 91.2% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,089,753 shares of the real estate investment trust’s stock valued at $163,027,000 after buying an additional 519,934 shares in the last quarter. Amundi boosted its holdings in shares of Extra Space Storage by 82.0% in the fourth quarter. Amundi now owns 828,644 shares of the real estate investment trust’s stock valued at $122,649,000 after buying an additional 373,274 shares during the period. Finally, Prudential Financial Inc. increased its position in shares of Extra Space Storage by 28.5% during the fourth quarter. Prudential Financial Inc. now owns 1,442,852 shares of the real estate investment trust’s stock worth $215,851,000 after acquiring an additional 320,083 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Extra Space Storage news, EVP William N. Springer sold 1,220 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $152.66, for a total transaction of $186,245.20. Following the sale, the executive vice president now directly owns 20,158 shares in the company, valued at $3,077,320.28. This represents a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph J. Bonner sold 672 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $149.10, for a total transaction of $100,195.20. Following the completion of the transaction, the director now owns 4,557 shares of the company’s stock, valued at $679,448.70. The trade was a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,392 shares of company stock worth $1,392,315 in the last 90 days. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Down 2.2 %

EXR stock opened at $144.17 on Friday. Extra Space Storage Inc. has a fifty-two week low of $131.02 and a fifty-two week high of $184.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The stock has a market capitalization of $30.56 billion, a price-to-earnings ratio of 37.74, a PEG ratio of 7.76 and a beta of 0.90. The business’s fifty day moving average price is $152.02 and its two-hundred day moving average price is $159.30.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.93. The business had revenue of $821.90 million for the quarter, compared to analyst estimates of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. On average, equities analysts anticipate 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 declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date was Friday, March 14th. Extra Space Storage’s dividend payout ratio is currently 160.40%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on EXR. Truist Financial increased their price objective on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Barclays lowered their target price on Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. Royal Bank of Canada lowered their target price on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Friday, March 7th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Extra Space Storage has a consensus rating of “Hold” and an average price target of $171.09.

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.