Extra Space Storage Inc. (NYSE:EXR) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets increased its holdings in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 346,102 shares of the real estate investment trust's stock after purchasing an additional 4,119 shares during the quarter. BNP Paribas Financial Markets owned 0.16% of Extra Space Storage worth $51,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Manning & Napier Advisors LLC increased its holdings in shares of Extra Space Storage by 1,127.2% in the fourth quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust's stock worth $116,985,000 after purchasing an additional 718,266 shares during the last quarter. Vert Asset Management LLC raised its position in Extra Space Storage by 8.0% in the 4th quarter. Vert Asset Management LLC now owns 93,473 shares of the real estate investment trust's stock worth $13,984,000 after purchasing an additional 6,910 shares during the period. Pacer Advisors Inc. lifted its position in shares of Extra Space Storage by 134.3% during the fourth quarter. Pacer Advisors Inc. now owns 167,735 shares of the real estate investment trust's stock worth $25,093,000 after purchasing an additional 96,136 shares during the last quarter. Brentview Investment Management LLC purchased a new position in shares of Extra Space Storage during the fourth quarter worth approximately $2,852,000. Finally, D.B. Root & Company LLC bought a new stake in Extra Space Storage during the 4th quarter valued at $313,000. Hedge funds and other institutional investors own 99.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Barclays cut their target price on shares of Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 12th. Royal Bank of Canada dropped their target price on Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 1st. StockNews.com raised Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Finally, Evercore ISI lifted their target price on Extra Space Storage from $144.00 to $149.00 and gave the company an "in-line" rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $166.83.

Extra Space Storage Stock Performance

Extra Space Storage stock traded down $2.82 during mid-day trading on Tuesday, reaching $146.07. 250,341 shares of the company traded hands, compared to its average volume of 1,050,477. The firm's fifty day moving average is $143.63 and its two-hundred day moving average is $152.39. The company has a market capitalization of $31.00 billion, a price-to-earnings ratio of 38.24, a price-to-earnings-growth ratio of 7.76 and a beta of 1.14. Extra Space Storage Inc. has a fifty-two week low of $121.03 and a fifty-two week 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.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share for the quarter, beating analysts' consensus estimates of $1.96 by $0.04. The firm had revenue of $820.00 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.96 earnings per share. On average, equities research analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a $1.62 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.44%. Extra Space Storage's dividend payout ratio is currently 150.35%.

Insider Buying and Selling

In other news, EVP William N. Springer sold 1,220 shares of the company's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $152.66, for a total value of $186,245.20. Following the sale, the executive vice president now owns 20,158 shares in the company, valued at $3,077,320.28. This represents a 5.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total value of $1,105,875.00. Following the sale, the chief executive officer now directly owns 9,190 shares in the company, valued at approximately $1,355,065.50. This trade represents a 44.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,392 shares of company stock worth $1,392,315. 0.96% of the stock is owned by company 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.