Extra Space Storage Inc. (NYSE:EXR) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. trimmed its stake in Extra Space Storage Inc. (NYSE:EXR) by 19.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,533 shares of the real estate investment trust’s stock after selling 604 shares during the quarter. iA Global Asset Management Inc.’s holdings in Extra Space Storage were worth $372,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. QRG Capital Management Inc. raised its holdings in shares of Extra Space Storage by 5.2% in the first quarter. QRG Capital Management Inc. now owns 1,588 shares of the real estate investment trust’s stock worth $233,000 after acquiring an additional 78 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in Extra Space Storage by 19.1% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 706 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 113 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in Extra Space Storage by 30.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 515 shares of the real estate investment trust’s stock valued at $83,000 after purchasing an additional 119 shares during the last quarter. Private Advisor Group LLC increased its stake in Extra Space Storage by 0.6% in the fourth quarter. Private Advisor Group LLC now owns 21,563 shares of the real estate investment trust’s stock valued at $3,457,000 after purchasing an additional 119 shares during the last quarter. Finally, Spire Wealth Management increased its stake in Extra Space Storage by 7.4% in the first quarter. Spire Wealth Management now owns 1,840 shares of the real estate investment trust’s stock valued at $271,000 after purchasing an additional 126 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Stock Up 2.8 %

Shares of NYSE EXR traded up $4.44 on Friday, hitting $164.30. The company had a trading volume of 577,255 shares, compared to its average volume of 1,076,415. Extra Space Storage Inc. has a 12-month low of $101.19 and a 12-month high of $171.46. The business has a 50 day moving average of $155.60 and a two-hundred day moving average of $147.56. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $34.79 billion, a P/E ratio of 35.98, a PEG ratio of 3.36 and a beta of 0.83.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $2.00 by ($1.12). The business had revenue of $810.66 million during the quarter, compared to analysts’ expectations of $815.52 million. Extra Space Storage had a net margin of 25.82% and a return on equity of 5.40%. The company’s revenue for the quarter was up 58.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.06 EPS. As a group, equities research analysts forecast that Extra Space Storage Inc. will post 8.04 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.94%. The ex-dividend date was Friday, June 14th. Extra Space Storage’s payout ratio is currently 144.32%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on EXR shares. StockNews.com upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Barclays boosted their price target on Extra Space Storage from $157.00 to $158.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. Raymond James boosted their price target on Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Citigroup lowered their price target on Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, June 7th. Finally, Wells Fargo & Company boosted their price target on Extra Space Storage from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $157.67.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, Director Joseph J. Bonner sold 677 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $148.22, for a total transaction of $100,344.94. Following the sale, the director now owns 5,229 shares in the company, valued at $775,042.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Joseph J. Bonner sold 677 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $148.22, for a total transaction of $100,344.94. Following the sale, the director now directly owns 5,229 shares in the company, valued at approximately $775,042.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $152.58, for a total value of $1,144,350.00. Following the sale, the chief executive officer now owns 31,690 shares in the company, valued at $4,835,260.20. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by 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.