Extra Space Storage Inc. (NYSE:EXR) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 27.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 168,338 shares of the real estate investment trust’s stock after purchasing an additional 36,693 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.08% of Extra Space Storage worth $25,183,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EXR. State Street Corp increased its position in Extra Space Storage by 1.7% during the 3rd quarter. State Street Corp now owns 13,390,830 shares of the real estate investment trust’s stock valued at $2,412,894,000 after buying an additional 227,006 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Extra Space Storage by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,409,330 shares of the real estate investment trust’s stock worth $360,436,000 after acquiring an additional 43,223 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Extra Space Storage by 10.4% during the third quarter. Daiwa Securities Group Inc. now owns 2,020,459 shares of the real estate investment trust’s stock valued at $364,066,000 after acquiring an additional 189,949 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Extra Space Storage by 724.1% during the third 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 valued at $357,100,000 after acquiring an additional 1,741,320 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC raised its position in shares of Extra Space Storage by 91.2% in the 4th 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 purchasing an additional 519,934 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Trading Down 2.4 %

Shares of NYSE:EXR opened at $152.00 on Wednesday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 12-month low of $131.02 and a 12-month high of $184.87. The business has a 50 day moving average of $153.13 and a two-hundred day moving average of $162.65. The company has a market capitalization of $32.22 billion, a PE ratio of 39.79, a PEG ratio of 7.76 and a beta of 0.90.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. As a group, analysts forecast that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.26%. Extra Space Storage’s dividend payout ratio (DPR) is 160.40%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on EXR shares. Wells Fargo & Company dropped their target price on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. Barclays dropped their price objective on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Friday, March 7th. The Goldman Sachs Group reiterated a “buy” rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Finally, Scotiabank cut their price objective on Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 5th. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $171.36.

Insider Activity at Extra Space Storage

In related news, EVP William N. Springer sold 1,220 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $152.66, for a total value of $186,245.20. Following the transaction, the executive vice president now directly owns 20,158 shares of the company’s stock, valued at approximately $3,077,320.28. This trade represents a 5.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the sale, the chief executive officer now 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 ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is owned by corporate insiders.

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.