Extra Space Storage Inc (NYSE:EXR) Shares Bought by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC increased its stake in Extra Space Storage Inc by 19.7% during the first quarter, holding 83,235 shares valued at approximately $12.36 million.
• Extra Space Storage's stock has seen a 0.9% decline, trading at $138.01, with a market cap of $29.29 billion and a price-to-earnings ratio of 29.94.
• The company declared a quarterly dividend of $1.62 per share, resulting in an annualized dividend yield of 4.7%, though its payout ratio stands at a high 140.56%.

Natixis Advisors LLC raised its stake in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 19.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,235 shares of the real estate investment trust's stock after purchasing an additional 13,673 shares during the period. Natixis Advisors LLC's holdings in Extra Space Storage were worth $12,360,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of EXR. Quarry LP raised its stake in shares of Extra Space Storage by 156.1% in the 4th quarter. Quarry LP now owns 356 shares of the real estate investment trust's stock valued at $53,000 after acquiring an additional 217 shares during the period. Golden State Wealth Management LLC boosted its stake 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 purchasing an additional 241 shares during the period. Parvin Asset Management LLC purchased a new position in Extra Space Storage in the 4th quarter valued at $62,000. Wayfinding Financial LLC purchased a new stake in shares of Extra Space Storage in the first quarter valued at approximately $76,000. Finally, Global X Japan Co. Ltd. lifted its position in shares of Extra Space Storage by 24.8% during the 1st quarter. Global X Japan Co. Ltd. now owns 558 shares of the real estate investment trust's stock valued at $83,000 after acquiring an additional 111 shares during the period. Institutional investors and hedge funds own 99.11% of the company's stock.

Extra Space Storage Stock Up 0.4%

NYSE:EXR traded up $0.60 during mid-day trading on Tuesday, hitting $138.66. The company had a trading volume of 1,484,168 shares, compared to its average volume of 1,322,445. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $184.87. The business has a fifty day simple moving average of $148.62 and a 200-day simple moving average of $148.21. The company has a current ratio of 0.29, a quick ratio of 0.33 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $29.43 billion, a price-to-earnings ratio of 30.08, a PEG ratio of 3.35 and a beta of 1.07.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.06 by ($0.01). The firm had revenue of $841.62 million for the quarter, compared to analysts' expectations of $719.43 million. Extra Space Storage had a net margin of 29.51% and a return on equity of 6.69%. The company's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.06 EPS. Equities analysts forecast that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a dividend of $1.62 per share. The ex-dividend date was Monday, June 16th. This represents a $6.48 annualized dividend and a yield of 4.7%. Extra Space Storage's payout ratio is currently 140.56%.

Insider Transactions at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total transaction of $1,127,625.00. Following the completion of the transaction, the chief executive officer directly owned 27,260 shares in the company, valued at approximately $4,098,541. This represents a 21.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.36% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on EXR. Mizuho upped their price target on shares of Extra Space Storage from $141.00 to $153.00 and gave the company an "outperform" rating in a report on Wednesday, May 28th. Barclays lowered their target price on Extra Space Storage from $181.00 to $178.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. BNP Paribas Exane assumed coverage on Extra Space Storage in a research report on Tuesday, June 24th. They issued a "neutral" rating and a $156.00 price objective on the stock. Royal Bank Of Canada decreased their price target on shares of Extra Space Storage from $160.00 to $148.00 and set a "sector perform" rating on the stock in a research note on Monday. Finally, Scotiabank boosted their price objective on shares of Extra Space Storage from $149.00 to $166.00 and gave the company a "sector outperform" rating in a research report on Monday, May 12th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $156.54.

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.