BNP PARIBAS ASSET MANAGEMENT Holding S.A. Reduces Stock Position in Extra Space Storage Inc. (NYSE:EXR)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. decreased its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 52.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 55,418 shares of the real estate investment trust’s stock after selling 60,239 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Extra Space Storage were worth $9,986,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Gateway Investment Advisers LLC acquired a new position in shares of Extra Space Storage during the 2nd quarter valued at about $16,026,000. MADDEN SECURITIES Corp purchased a new position in Extra Space Storage during the second quarter worth about $1,002,000. Tidal Investments LLC boosted its holdings in Extra Space Storage by 262.5% in the 1st quarter. Tidal Investments LLC now owns 12,967 shares of the real estate investment trust’s stock valued at $1,906,000 after purchasing an additional 9,390 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Extra Space Storage by 53.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,738 shares of the real estate investment trust’s stock valued at $1,824,000 after buying an additional 4,102 shares during the period. Finally, Czech National Bank increased its holdings in shares of Extra Space Storage by 8.5% during the 2nd quarter. Czech National Bank now owns 40,346 shares of the real estate investment trust’s stock worth $6,270,000 after buying an additional 3,172 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Trading Up 0.8 %

EXR opened at $168.14 on Friday. The business has a fifty day moving average price of $170.44 and a 200 day moving average price of $163.38. 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 Inc. has a 12 month low of $125.32 and a 12 month high of $184.87. The stock has a market capitalization of $35.64 billion, a price-to-earnings ratio of 44.02, a PEG ratio of 8.40 and a beta of 0.87.

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

Extra Space Storage Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.85%. 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 related news, EVP William N. Springer sold 2,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total value of $350,660.00. Following the transaction, the executive vice president now owns 11,919 shares of the company’s stock, valued at $2,089,758.27. This represents a 14.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Diane Olmstead sold 3,081 shares of Extra Space Storage stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $164.56, for a total value of $507,009.36. Following the sale, the director now directly owns 5,877 shares of the company’s stock, valued at $967,119.12. This trade represents a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,228 shares of company stock valued at $3,374,617. Insiders own 1.36% of the company’s stock.

Wall Street Analysts Forecast Growth

EXR has been the subject of several analyst reports. Barclays increased their price objective on Extra Space Storage from $188.00 to $192.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Truist Financial upped their target price on shares of Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a research report on Friday, August 16th. 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 decreased their price objective on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a report on Monday, October 14th. Finally, Scotiabank lifted their target price on shares of Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a report on Thursday, August 22nd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $171.50.

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.