BROOKFIELD Corp ON Grows Stock Position in Extra Space Storage Inc. (NYSE:EXR)

BROOKFIELD Corp ON lifted its stake in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 7.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,607 shares of the real estate investment trust's stock after purchasing an additional 14,409 shares during the period. BROOKFIELD Corp ON owned 0.09% of Extra Space Storage worth $29,712,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of EXR. World Investment Advisors LLC purchased a new position in shares of Extra Space Storage during the 3rd quarter valued at about $216,000. Tidal Investments LLC boosted its holdings in Extra Space Storage by 34.4% in the 3rd quarter. Tidal Investments LLC now owns 12,640 shares of the real estate investment trust's stock worth $2,278,000 after buying an additional 3,234 shares during the period. GAMMA Investing LLC increased its stake in Extra Space Storage by 6.9% in the 4th quarter. GAMMA Investing LLC now owns 2,927 shares of the real estate investment trust's stock worth $438,000 after buying an additional 189 shares in the last quarter. Nordea Investment Management AB increased its stake in Extra Space Storage by 7.0% in 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 in the last quarter. Finally, First Hawaiian Bank lifted its position in shares of Extra Space Storage by 25.1% in the fourth quarter. First Hawaiian Bank now owns 2,022 shares of the real estate investment trust's stock valued at $302,000 after acquiring an additional 406 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EXR. Mizuho assumed coverage on Extra Space Storage in a research note on Wednesday, April 9th. They set an "outperform" rating and a $141.00 target price on the stock. StockNews.com upgraded shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Wednesday, April 30th. Scotiabank upgraded shares of Extra Space Storage from a "sector perform" rating to a "sector outperform" rating and dropped their target price for the stock from $165.00 to $149.00 in a research report on Wednesday, April 9th. Evercore ISI lifted their price target on shares of Extra Space Storage from $144.00 to $149.00 and gave the company an "in-line" rating in a report on Thursday, May 1st. Finally, Royal Bank of Canada lowered their target price on Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $165.42.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, Director Joseph J. Bonner sold 672 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $149.10, for a total transaction of $100,195.20. Following the completion of the sale, the director now directly owns 4,557 shares of the company's stock, valued at approximately $679,448.70. This represents a 12.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following the completion of the transaction, the executive vice president now directly owns 20,158 shares in the company, valued at approximately $3,077,320.28. The trade was a 5.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,392 shares of company stock valued at $1,392,315. 1.36% of the stock is currently owned by corporate insiders.

Extra Space Storage Stock Up 0.9 %

Shares of EXR stock traded up $1.29 during mid-day trading on Friday, hitting $148.72. The stock had a trading volume of 522,257 shares, compared to its average volume of 1,052,974. Extra Space Storage Inc. has a 12-month low of $121.03 and a 12-month high of $184.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The firm's 50-day moving average is $143.90 and its two-hundred day moving average is $152.86. The firm has a market capitalization of $31.56 billion, a P/E ratio of 38.93, a price-to-earnings-growth ratio of 7.76 and a beta of 1.14.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.04. The firm had revenue of $820.00 million during the quarter, compared to the consensus estimate of $705.12 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The firm's quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.96 earnings per share. On average, analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $1.62 per share. The ex-dividend date was Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.36%. Extra Space Storage's dividend payout ratio is currently 150.35%.

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.