Extra Space Storage Inc. (NYSE:EXR) Shares Acquired by Candriam S.C.A.

Candriam S.C.A. increased its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 9.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,507 shares of the real estate investment trust’s stock after acquiring an additional 1,228 shares during the period. Candriam S.C.A.’s holdings in Extra Space Storage were worth $2,170,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new stake in Extra Space Storage during the fourth quarter worth $25,000. Ashton Thomas Securities LLC acquired a new stake in Extra Space Storage during the third quarter worth about $33,000. Harvest Fund Management Co. Ltd acquired a new stake in Extra Space Storage during the third quarter worth about $42,000. Quent Capital LLC grew its stake in shares of Extra Space Storage by 89.0% in the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 154 shares in the last quarter. Finally, Asset Planning Inc acquired a new stake in shares of Extra Space Storage in the fourth quarter valued at about $52,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insiders Place Their Bets

In other Extra Space Storage news, EVP William N. Springer sold 1,220 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $152.66, for a total value of $186,245.20. Following the completion of the transaction, the executive vice president now owns 20,158 shares of the company’s stock, valued at $3,077,320.28. This represents a 5.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the company’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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Performance

Shares of NYSE EXR opened at $157.11 on Monday. The stock has a market capitalization of $33.31 billion, a price-to-earnings ratio of 41.13, a PEG ratio of 7.76 and a beta of 0.90. The stock’s fifty day simple moving average is $152.91 and its 200 day simple moving average is $162.97. 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.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.93. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The firm had revenue of $821.90 million during the quarter, compared to analysts’ expectations of $707.34 million. As a group, sell-side analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $1.62 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.12%. Extra Space Storage’s dividend payout ratio is currently 160.40%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Scotiabank lowered their price objective on Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating for the company in a research note on Wednesday, March 5th. StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday. Wells Fargo & Company cut their price target on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday, February 21st. Royal Bank of Canada lowered their target price on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Finally, Barclays lowered their target price on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Extra Space Storage presently has an average rating of “Hold” and an average target price of $171.36.

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.