KBC Group NV Sells 110,301 Shares of Extra Space Storage Inc (NYSE:EXR)

KBC Group NV cut its holdings in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 70.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,342 shares of the real estate investment trust's stock after selling 110,301 shares during the quarter. KBC Group NV's holdings in Extra Space Storage were worth $6,882,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harbour Investments Inc. lifted its position in Extra Space Storage by 90.9% during the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock worth $25,000 after buying an additional 80 shares in the last quarter. Quarry LP lifted its position in Extra Space Storage by 156.1% during the 4th quarter. Quarry LP now owns 356 shares of the real estate investment trust's stock worth $53,000 after buying an additional 217 shares in the last quarter. Golden State Wealth Management LLC lifted its position in Extra Space Storage by 147.0% during the 1st quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust's stock worth $60,000 after buying an additional 241 shares in the last quarter. Parvin Asset Management LLC bought a new stake in Extra Space Storage during the 4th quarter worth about $62,000. Finally, Lindbrook Capital LLC lifted its position in Extra Space Storage by 14.9% during the 4th quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust's stock worth $78,000 after buying an additional 68 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

EXR has been the topic of several analyst reports. Evercore ISI boosted their price target on shares of Extra Space Storage from $144.00 to $149.00 and gave the stock an "in-line" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. boosted their price target on shares of Extra Space Storage from $160.00 to $162.00 and gave the stock a "neutral" rating in a research report on Friday, June 13th. Bank of America boosted their price objective on shares of Extra Space Storage from $155.00 to $161.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Royal Bank Of Canada lowered their price objective on shares of Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 1st. Finally, BNP Paribas upgraded shares of Extra Space Storage to a "hold" rating in a research note on Tuesday, June 24th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $159.29.

Extra Space Storage Stock Performance

Shares of EXR stock traded up $0.99 during midday trading on Friday, hitting $152.77. 835,966 shares of the company were exchanged, compared to its average volume of 1,064,697. The firm has a market capitalization of $32.42 billion, a P/E ratio of 35.44, a PEG ratio of 3.71 and a beta of 1.10. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.33 and a current ratio of 0.33. The firm's 50 day moving average price is $148.50 and its two-hundred day moving average price is $148.31. Extra Space Storage Inc has a 52 week low of $121.03 and a 52 week high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 EPS for the quarter, topping the consensus estimate of $1.96 by $0.04. The business 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 27.84% and a return on equity of 6.11%. Extra Space Storage's revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.96 EPS. As a group, equities research analysts anticipate that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.24%. The ex-dividend date of this dividend was Monday, June 16th. Extra Space Storage's payout ratio is 150.35%.

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $150.35, for a total transaction of $1,127,625.00. Following the completion of the sale, the chief executive officer owned 27,260 shares of the company's stock, valued at approximately $4,098,541. The trade was a 21.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.96% of the company's stock.

Extra Space Storage 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.