BNP PARIBAS ASSET MANAGEMENT Holding S.A. Trims Holdings in Extra Space Storage Inc. (NYSE:EXR)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. reduced its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 52.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 55,418 shares of the real estate investment trust’s stock after selling 60,239 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Extra Space Storage were worth $9,986,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of EXR. Massachusetts Financial Services Co. MA boosted its stake in shares of Extra Space Storage by 4.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,549,231 shares of the real estate investment trust’s stock worth $551,586,000 after buying an additional 157,763 shares during the period. Dimensional Fund Advisors LP lifted its position in Extra Space Storage by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,127,012 shares of the real estate investment trust’s stock worth $485,973,000 after acquiring an additional 45,717 shares during the period. Diamond Hill Capital Management Inc. grew its stake in shares of Extra Space Storage by 7.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,965,638 shares of the real estate investment trust’s stock valued at $460,890,000 after purchasing an additional 198,888 shares during the last quarter. Pathway Financial Advisers LLC increased its holdings in shares of Extra Space Storage by 17,832.9% in the third quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust’s stock valued at $363,783,000 after purchasing an additional 2,007,626 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in shares of Extra Space Storage by 20.5% during the second quarter. Canada Pension Plan Investment Board now owns 1,877,100 shares of the real estate investment trust’s stock worth $291,720,000 after purchasing an additional 319,965 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Extra Space Storage Stock Up 0.8 %

Extra Space Storage stock opened at $168.14 on Friday. Extra Space Storage Inc. has a fifty-two week low of $125.32 and a fifty-two week high of $184.87. The firm has a market capitalization of $35.64 billion, a price-to-earnings ratio of 44.02, a price-to-earnings-growth ratio of 8.40 and a beta of 0.87. The stock’s fifty day moving average is $170.44 and its two-hundred day moving average is $163.38. 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 issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). The business 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%. Extra Space Storage’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.02 earnings per share. Analysts predict that Extra Space Storage Inc. will post 8.09 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $1.62 per share. The ex-dividend date is Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.85%. Extra Space Storage’s dividend payout ratio (DPR) is 169.63%.

Analysts Set New Price Targets

A number of research firms recently weighed in on EXR. Wells Fargo & Company reiterated an “equal weight” rating and issued a $175.00 price objective on shares of Extra Space Storage in a research report on Monday, October 21st. Evercore ISI dropped their price target on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a research note on Monday, October 14th. 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 report on Monday, October 28th. Bank of America cut Extra Space Storage from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $172.00 to $155.00 in a research report on Monday, August 5th. Finally, Royal Bank of Canada initiated coverage on Extra Space Storage in a report on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 price target for the company. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $171.50.

Insider Buying and Selling

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total value of $1,338,900.00. Following the completion of the transaction, the chief executive officer now directly owns 24,190 shares of the company’s stock, valued at $4,318,398.80. The trade was a 23.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 value of $507,009.36. Following the completion of the sale, the director now owns 5,877 shares in the company, valued at $967,119.12. This represents a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,228 shares of company stock worth $3,374,617 in the last ninety days. Insiders own 1.36% of the company’s stock.

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.