Erste Asset Management GmbH Buys New Position in Extra Space Storage Inc. (NYSE:EXR)

Erste Asset Management GmbH bought a new position in Extra Space Storage Inc. (NYSE:EXR) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 9,200 shares of the real estate investment trust’s stock, valued at approximately $1,631,000.

Other institutional investors also recently bought and sold shares of the company. EdgeRock Capital LLC bought a new position in shares of Extra Space Storage during the second quarter valued at approximately $25,000. Centerpoint Advisors LLC purchased a new stake in shares of Extra Space Storage in the second quarter worth $27,000. Ashton Thomas Securities LLC purchased a new position in Extra Space Storage in the third quarter worth about $33,000. Blue Trust Inc. increased its holdings in shares of Extra Space Storage by 540.5% in the 2nd quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 200 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Extra Space Storage during the third quarter valued at approximately $42,000. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on EXR shares. StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Jefferies Financial Group upgraded Extra Space Storage from a “hold” rating to a “buy” rating and upped their price objective for the company from $162.00 to $204.00 in a research report on Wednesday, September 18th. Truist Financial raised their price objective 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. Scotiabank dropped their price objective on Extra Space Storage from $169.00 to $167.00 and set a “sector underperform” rating on the stock in a research note on Monday, November 25th. Finally, Barclays upped their price target on shares of Extra Space Storage from $188.00 to $192.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $171.36.

Extra Space Storage Stock Down 2.5 %

Shares of NYSE EXR opened at $165.54 on Wednesday. The stock has a market capitalization of $35.09 billion, a PE ratio of 43.34, a P/E/G ratio of 8.54 and a beta of 0.89. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 52-week low of $131.02 and a 52-week high of $184.87. The firm has a fifty day moving average of $169.04 and a 200-day moving average of $164.73.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). The business had revenue of $824.80 million for the quarter, compared to analysts’ expectations of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.02 earnings per share. On average, analysts anticipate that Extra Space Storage Inc. will post 8.09 EPS for the current year.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend is Monday, December 16th. Extra Space Storage’s dividend payout ratio is presently 169.63%.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, Director Diane Olmstead sold 3,081 shares of Extra Space Storage stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $164.56, for a total value of $507,009.36. Following the transaction, the director now owns 5,877 shares in the company, valued at approximately $967,119.12. The trade was a 34.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the completion of the transaction, the chief executive officer now owns 24,190 shares of the company’s stock, valued at approximately $4,318,398.80. The trade was a 23.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,228 shares of company stock worth $3,023,957. 1.36% of the stock is owned by insiders.

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.