BROOKFIELD Corp ON Purchases 14,409 Shares of Extra Space Storage Inc. (NYSE:EXR)

BROOKFIELD Corp ON lifted its position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 7.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 198,607 shares of the real estate investment trust's stock after buying an additional 14,409 shares during the quarter. BROOKFIELD Corp ON owned about 0.09% of Extra Space Storage worth $29,712,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. World Investment Advisors LLC acquired a new position in Extra Space Storage during the third quarter worth about $216,000. Tidal Investments LLC grew its position in Extra Space Storage by 34.4% during the 3rd quarter. Tidal Investments LLC now owns 12,640 shares of the real estate investment trust's stock worth $2,278,000 after acquiring an additional 3,234 shares during the last quarter. GAMMA Investing LLC increased its holdings 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 purchasing an additional 189 shares in the last quarter. Nordea Investment Management AB raised its position in Extra Space Storage by 7.0% in the fourth quarter. Nordea Investment Management AB now owns 16,577 shares of the real estate investment trust's stock valued at $2,465,000 after purchasing an additional 1,085 shares during the last quarter. Finally, First Hawaiian Bank boosted its stake in shares of Extra Space Storage by 25.1% during the fourth quarter. First Hawaiian Bank now owns 2,022 shares of the real estate investment trust's stock valued at $302,000 after purchasing an additional 406 shares in the last quarter. Institutional investors own 99.11% of the company's stock.

Analysts Set New Price Targets

EXR has been the subject of several recent research reports. Mizuho assumed coverage on Extra Space Storage in a research note on Wednesday, April 9th. They issued an "outperform" rating and a $141.00 price objective for the company. Royal Bank of Canada dropped their price target on shares of Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating for the company in a research note on Thursday, May 1st. Scotiabank raised shares of Extra Space Storage from a "sector perform" rating to a "sector outperform" rating and reduced their price objective for the stock from $165.00 to $149.00 in a research note on Wednesday, April 9th. The Goldman Sachs Group restated a "buy" rating on shares of Extra Space Storage in a report on Thursday, March 6th. Finally, StockNews.com raised Extra Space Storage from a "sell" rating to a "hold" rating in a report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Extra Space Storage currently has an average rating of "Moderate Buy" and an average target price of $165.42.

Insider Activity

In other news, EVP William N. Springer sold 1,220 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $152.66, for a total value of $186,245.20. Following the completion of the sale, the executive vice president now directly owns 20,158 shares of the company's stock, valued at $3,077,320.28. This represents a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total value of $1,105,875.00. Following the completion of the transaction, the chief executive officer now owns 9,190 shares in the company, valued at $1,355,065.50. This represents a 44.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,392 shares of company stock worth $1,392,315 over the last quarter. 1.36% of the stock is currently owned by corporate insiders.

Extra Space Storage Trading Up 0.9 %

Shares of EXR stock traded up $1.29 during trading hours on Friday, hitting $148.72. 522,257 shares of the company were exchanged, compared to its average volume of 1,054,351. The company has a 50 day simple moving average of $143.80 and a two-hundred day simple moving average of $152.62. The firm has a market cap of $31.56 billion, a P/E ratio of 38.93, a P/E/G ratio of 7.76 and a beta of 1.14. 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 Inc. has a fifty-two week low of $121.03 and a fifty-two week high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings results 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 net margin of 25.35% and a return on equity of 5.51%. The business's revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.96 earnings per share. Equities analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $1.62 dividend. 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 (DPR) is presently 150.35%.

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.