Extra Space Storage Inc $EXR Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

Key Points

• OVERSEA CHINESE BANKING Corp Ltd cut its stake in Extra Space Storage by 83.6% in Q4, selling 27,723 shares and leaving a holding of 5,435 shares worth $708,000.
• CEO Joseph D. Margolis sold 7,500 shares on March 13 at an average price of $142.08 for $1,065,600, reducing his position by 10.14%; company insiders now own 0.96% of the stock.
• Analysts are mixed: the consensus rating is Hold with an average price target of $143.67 (6 Buy, 9 Hold, 1 Sell), though recent notes ranged from Bank of America’s downgrade to Barclays’ $170 upgrade.

OVERSEA CHINESE BANKING Corp Ltd lessened its stake in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 83.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,435 shares of the real estate investment trust's stock after selling 27,723 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Extra Space Storage were worth $708,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Cibc World Market Inc. grew its position in Extra Space Storage by 19.4% in the third quarter. Cibc World Market Inc. now owns 190,863 shares of the real estate investment trust's stock worth $26,900,000 after buying an additional 30,983 shares during the last quarter. Principal Financial Group Inc. grew its position in Extra Space Storage by 6.4% in the third quarter. Principal Financial Group Inc. now owns 6,715,901 shares of the real estate investment trust's stock worth $946,540,000 after buying an additional 406,146 shares during the last quarter. Thrivent Financial for Lutherans grew its position in Extra Space Storage by 38.2% in the third quarter. Thrivent Financial for Lutherans now owns 589,271 shares of the real estate investment trust's stock worth $83,052,000 after buying an additional 162,773 shares during the last quarter. Resona Asset Management Co. Ltd. grew its position in Extra Space Storage by 6.6% in the third quarter. Resona Asset Management Co. Ltd. now owns 127,235 shares of the real estate investment trust's stock worth $17,982,000 after buying an additional 7,831 shares during the last quarter. Finally, Metis Global Partners LLC grew its position in Extra Space Storage by 28.4% in the third quarter. Metis Global Partners LLC now owns 54,950 shares of the real estate investment trust's stock worth $7,745,000 after buying an additional 12,145 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on EXR. Bank of America lowered shares of Extra Space Storage from a "neutral" rating to an "underperform" rating and set a $143.00 price target on the stock. in a research report on Thursday, February 5th. Barclays lifted their price target on shares of Extra Space Storage from $164.00 to $170.00 and gave the stock an "overweight" rating in a research report on Thursday, March 5th. BNP Paribas Exane upgraded shares of Extra Space Storage from a "neutral" rating to an "outperform" rating and set a $154.00 price target on the stock in a research report on Wednesday, March 18th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Extra Space Storage in a research note on Thursday, January 22nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Extra Space Storage from $142.00 to $144.00 and gave the stock a "neutral" rating in a research note on Monday, March 23rd. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Extra Space Storage presently has an average rating of "Hold" and a consensus price target of $143.67.

Insider Activity

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Friday, March 13th. The shares were sold at an average price of $142.08, for a total transaction of $1,065,600.00. Following the completion of the sale, the chief executive officer owned 66,495 shares of the company's stock, valued at $9,447,609.60. This trade represents a 10.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.96% of the stock is owned by company insiders.

Extra Space Storage Trading Down 1.7%

Extra Space Storage stock opened at $141.18 on Thursday. The company has a 50 day moving average price of $141.04 and a 200 day moving average price of $138.56. Extra Space Storage Inc has a 52 week low of $125.71 and a 52 week high of $155.19. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a market capitalization of $29.82 billion, a price-to-earnings ratio of 30.69, a P/E/G ratio of 2.88 and a beta of 1.26.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings data on Thursday, February 19th. The real estate investment trust reported $2.08 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.05. Extra Space Storage had a net margin of 28.84% and a return on equity of 6.79%. The firm had revenue of $857.47 million during the quarter, compared to analyst estimates of $732.92 million. During the same quarter last year, the business posted $2.03 EPS. The company's revenue was up 4.3% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Research analysts forecast that Extra Space Storage Inc will post 8.24 EPS for the current year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.6%. Extra Space Storage's dividend payout ratio (DPR) is 140.87%.

About Extra Space Storage

Extra Space Storage NYSE: EXR is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.

Want to see what other hedge funds are holding EXR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Extra Space Storage Inc (NYSE:EXR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.