Extra Space Storage Inc. (NYSE:EXR) Shares Bought by Czech National Bank

Czech National Bank grew its stake in Extra Space Storage Inc. (NYSE:EXR) by 6.5% in the fourth quarter, Holdings Channel reports. The fund owned 45,963 shares of the real estate investment trust’s stock after purchasing an additional 2,791 shares during the period. Czech National Bank’s holdings in Extra Space Storage were worth $6,876,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Harbor Capital Advisors Inc. increased its position in Extra Space Storage by 10.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 6,227 shares of the real estate investment trust’s stock worth $932,000 after purchasing an additional 596 shares during the last quarter. First Hawaiian Bank increased its holdings in shares of Extra Space Storage by 25.1% during the 4th quarter. First Hawaiian Bank now owns 2,022 shares of the real estate investment trust’s stock worth $302,000 after buying an additional 406 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Extra Space Storage by 7.0% during the 4th quarter. Nordea Investment Management AB now owns 16,577 shares of the real estate investment trust’s stock worth $2,465,000 after buying an additional 1,085 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Extra Space Storage by 6.9% during the 4th quarter. GAMMA Investing LLC now owns 2,927 shares of the real estate investment trust’s stock valued at $438,000 after buying an additional 189 shares during the period. Finally, SMART Wealth LLC lifted its holdings in Extra Space Storage by 21.4% in the third quarter. SMART Wealth LLC now owns 4,945 shares of the real estate investment trust’s stock valued at $891,000 after acquiring an additional 871 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Trading Up 0.9 %

NYSE:EXR opened at $148.68 on Wednesday. Extra Space Storage Inc. has a 12-month low of $131.02 and a 12-month high of $184.87. The firm has a market cap of $31.52 billion, a PE ratio of 38.92, a price-to-earnings-growth ratio of 7.96 and a beta of 0.91. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The stock has a fifty day moving average price of $158.06 and a 200 day moving average price of $165.04.

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 for the quarter, missing the consensus estimate 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 net margin of 25.35% and a return on equity of 5.51%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business earned $2.02 EPS. Sell-side analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend was Monday, December 16th. Extra Space Storage’s payout ratio is 169.63%.

Analyst Upgrades and Downgrades

EXR has been the topic of a number of research analyst reports. Truist Financial lifted their target price on Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Jefferies Financial Group upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and lifted their price target for the company from $162.00 to $204.00 in a research report on Wednesday, September 18th. Scotiabank raised shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price target on the stock in a research note on Friday, January 10th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $175.00 price objective on shares of Extra Space Storage in a research report on Monday, October 21st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Extra Space Storage currently has a consensus rating of “Hold” and an average target price of $171.25.

Insider Activity at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm’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 transaction of $1,110,075.00. Following the transaction, the chief executive officer now directly owns 16,690 shares in the company, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Diane Olmstead sold 3,081 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $164.56, for a total transaction of $507,009.36. Following the completion of the sale, the director now owns 5,877 shares of the company’s stock, valued at approximately $967,119.12. This trade represents a 34.39 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by corporate 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.