B. Metzler seel. Sohn & Co. Holding AG Invests $1.14 Million in Extra Space Storage Inc. (NYSE:EXR)

B. Metzler seel. Sohn & Co. Holding AG bought a new position in Extra Space Storage Inc. (NYSE:EXR) in the 3rd quarter, according to its most recent disclosure with the SEC. The firm bought 6,350 shares of the real estate investment trust’s stock, valued at approximately $1,144,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pathstone Holdings LLC lifted its position in shares of Extra Space Storage by 1.1% in the 3rd quarter. Pathstone Holdings LLC now owns 13,027 shares of the real estate investment trust’s stock worth $2,347,000 after purchasing an additional 148 shares during the period. Swiss National Bank lifted its position in shares of Extra Space Storage by 0.3% in the 3rd quarter. Swiss National Bank now owns 628,327 shares of the real estate investment trust’s stock worth $113,218,000 after purchasing an additional 1,900 shares during the period. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of Extra Space Storage in the 3rd quarter worth about $247,000. Vaughan Nelson Investment Management L.P. lifted its position in shares of Extra Space Storage by 9.7% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 298,605 shares of the real estate investment trust’s stock worth $53,806,000 after purchasing an additional 26,316 shares during the period. Finally, Natixis Advisors LLC lifted its position in shares of Extra Space Storage by 2.0% in the 3rd quarter. Natixis Advisors LLC now owns 108,688 shares of the real estate investment trust’s stock worth $19,585,000 after purchasing an additional 2,095 shares during the period. 99.11% of the stock is owned by hedge funds and other institutional investors.

Extra Space Storage Trading Up 0.8 %

Shares of EXR opened at $168.14 on Friday. The company’s fifty day moving average is $170.44 and its 200 day moving average is $163.38. Extra Space Storage Inc. has a fifty-two week low of $125.32 and a fifty-two week high of $184.87. The stock has a market capitalization of $35.64 billion, a PE ratio of 44.02, a P/E/G ratio of 8.40 and a beta of 0.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23.

Extra Space Storage (NYSE:EXR) last announced its quarterly 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). Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business had revenue of $824.80 million during the quarter, compared to the consensus estimate of $826.93 million. During the same quarter in the prior year, the firm posted $2.02 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a 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

In other Extra Space Storage news, Director Diane Olmstead sold 3,081 shares of the business’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 transaction, the director now owns 5,877 shares in the company, valued at $967,119.12. The trade was a 34.39 % decrease in their ownership of the stock. 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 business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the transaction, the chief executive officer now owns 24,190 shares in the company, valued at $4,318,398.80. This trade represents a 23.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,228 shares of company stock worth $3,374,617. Insiders own 1.36% of the company’s stock.

Analyst Ratings Changes

EXR has been the subject of a number of recent research reports. Jefferies Financial Group raised 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. Royal Bank of Canada started coverage on shares of Extra Space Storage in a research note on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 price objective for the company. Wells Fargo & Company restated an “equal weight” rating and set a $175.00 price objective on shares of Extra Space Storage in a research note on Monday, October 21st. Evercore ISI reduced their price objective on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a research note on Monday, October 14th. Finally, Barclays raised their price objective on shares of Extra Space Storage from $188.00 to $192.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $171.50.

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.