Extra Space Storage Inc $EXR Shares Sold by Caisse DE Depot ET Placement DU Quebec

Key Points

• Caisse DE Depot ET Placement DU Quebec sold 14,500 shares of Extra Space Storage, reducing its stake by 34.6%, and now holds 27,464 shares worth approximately $4.08 million.
• Extra Space Storage's CEO, Joseph D. Margolis, sold 7,500 shares at an average price of $150.35, decreasing his position by 21.58%.
• The company announced a quarterly dividend of $1.62 per share, representing a yield of 4.6%, with the dividend payout ratio at 140.56%.

Caisse DE Depot ET Placement DU Quebec lessened its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 34.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,464 shares of the real estate investment trust's stock after selling 14,500 shares during the quarter. Caisse DE Depot ET Placement DU Quebec's holdings in Extra Space Storage were worth $4,078,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Aptus Capital Advisors LLC grew its position in Extra Space Storage by 4.3% in the 4th quarter. Aptus Capital Advisors LLC now owns 1,638 shares of the real estate investment trust's stock valued at $245,000 after acquiring an additional 68 shares during the last quarter. Siemens Fonds Invest GmbH grew its position in Extra Space Storage by 3.0% in the 4th quarter. Siemens Fonds Invest GmbH now owns 2,320 shares of the real estate investment trust's stock valued at $342,000 after acquiring an additional 68 shares during the last quarter. Exchange Traded Concepts LLC grew its position in Extra Space Storage by 8.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 934 shares of the real estate investment trust's stock valued at $139,000 after acquiring an additional 73 shares during the last quarter. Naviter Wealth LLC grew its position in Extra Space Storage by 0.6% in the 1st quarter. Naviter Wealth LLC now owns 13,645 shares of the real estate investment trust's stock valued at $2,007,000 after acquiring an additional 82 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in Extra Space Storage by 0.5% in the 4th quarter. Mackenzie Financial Corp now owns 18,363 shares of the real estate investment trust's stock valued at $2,747,000 after acquiring an additional 90 shares during the last quarter. Institutional investors own 99.11% of the company's stock.

Extra Space Storage Stock Down 2.0%

Shares of NYSE EXR traded down $2.83 during mid-day trading on Tuesday, reaching $140.75. 513,428 shares of the company were exchanged, compared to its average volume of 1,181,426. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.88. The stock has a market cap of $29.87 billion, a price-to-earnings ratio of 30.52, a P/E/G ratio of 3.47 and a beta of 1.09. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $184.87. The firm has a 50-day moving average of $144.56 and a 200 day moving average of $146.14.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share for the quarter, missing analysts' consensus estimates of $2.06 by ($0.01). The company had revenue of $841.62 million for the quarter, compared to analysts' expectations of $719.43 million. Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%.The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.06 earnings per share. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. On average, research analysts expect that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $1.62 dividend. The ex-dividend date is Monday, September 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.6%. Extra Space Storage's dividend payout ratio (DPR) is 140.56%.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total value of $1,127,625.00. Following the completion of the sale, the chief executive officer directly owned 27,260 shares in the company, valued at approximately $4,098,541. This trade represents a 21.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.36% of the company's stock.

Analyst Upgrades and Downgrades

EXR has been the subject of several research reports. Wall Street Zen cut Extra Space Storage from a "hold" rating to a "sell" rating in a report on Monday. BNP Paribas Exane initiated coverage on Extra Space Storage in a report on Tuesday, June 24th. They issued a "neutral" rating and a $156.00 target price for the company. Benchmark lowered their target price on Extra Space Storage from $61.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $146.00 target price (down from $169.00) on shares of Extra Space Storage in a report on Thursday, August 21st. Finally, Mizuho upped their target price on Extra Space Storage from $141.00 to $153.00 and gave the stock an "outperform" rating in a report on Wednesday, May 28th. Seven investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $153.33.

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.