Brookfield Corp ON Has $33.19 Million Stake in Extra Space Storage Inc. (NYSE:EXR)

Brookfield Corp ON lowered its position in Extra Space Storage Inc. (NYSE:EXR) by 20.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 184,198 shares of the real estate investment trust’s stock after selling 45,963 shares during the period. Brookfield Corp ON owned 0.09% of Extra Space Storage worth $33,191,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Gateway Investment Advisers LLC acquired a new stake in Extra Space Storage in the 2nd quarter valued at about $16,026,000. Wealth Enhancement Advisory Services LLC raised its holdings in Extra Space Storage by 53.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,738 shares of the real estate investment trust’s stock worth $1,824,000 after purchasing an additional 4,102 shares during the last quarter. Swedbank AB grew its position in shares of Extra Space Storage by 4.5% during the 3rd quarter. Swedbank AB now owns 243,130 shares of the real estate investment trust’s stock worth $43,810,000 after buying an additional 10,408 shares during the period. Czech National Bank boosted its position in shares of Extra Space Storage by 8.5% in the 2nd quarter. Czech National Bank now owns 40,346 shares of the real estate investment trust’s stock worth $6,270,000 after purchasing an additional 3,172 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Extra Space Storage by 724.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust’s stock worth $357,100,000 after buying an additional 1,741,320 shares during the period. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Performance

NYSE:EXR opened at $163.54 on Friday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $34.67 billion, a PE ratio of 42.81, a price-to-earnings-growth ratio of 8.25 and a beta of 0.89. Extra Space Storage Inc. has a twelve month low of $131.02 and a twelve month high of $184.87. The stock’s 50-day simple moving average is $168.16 and its 200 day simple moving average is $164.81.

Extra Space Storage (NYSE:EXR) last issued 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 firm had revenue of $824.80 million during the quarter, compared to analyst estimates of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. Extra Space Storage’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.02 EPS. On average, analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.96%. The ex-dividend date of this dividend is Monday, December 16th. Extra Space Storage’s payout ratio is currently 169.63%.

Analyst Upgrades and Downgrades

EXR has been the topic of several recent analyst reports. Truist Financial lifted their target price on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Evercore ISI lowered their target price on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a report on Monday, October 14th. Scotiabank cut their price objective on shares of Extra Space Storage from $169.00 to $167.00 and set a “sector underperform” rating on the stock in a research report on Monday, November 25th. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $175.00 price target on shares of Extra Space Storage in a research report on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $171.43.

Insiders Place Their Bets

In other Extra Space Storage news, Director Diane Olmstead sold 3,081 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $164.56, for a total transaction of $507,009.36. Following the transaction, the director now directly owns 5,877 shares in the company, valued at approximately $967,119.12. This represents a 34.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kenneth M. Woolley sold 6,647 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $177.23, for a total transaction of $1,178,047.81. Following the transaction, the director now owns 404,306 shares in the company, valued at $71,655,152.38. This represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,228 shares of company stock valued at $3,023,957. 1.36% of the stock is currently owned by company insiders.

Extra Space Storage Company 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.