OVERSEA CHINESE BANKING Corp Ltd Has $9.02 Million Holdings in Extra Space Storage Inc (NYSE:EXR)

OVERSEA CHINESE BANKING Corp Ltd lessened its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 10.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 60,726 shares of the real estate investment trust's stock after selling 7,457 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Extra Space Storage were worth $9,017,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Harbour Investments Inc. boosted its position in shares of Extra Space Storage by 90.9% in the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 80 shares during the period. Quarry LP boosted its position in shares of Extra Space Storage by 156.1% in the fourth 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 position in shares of Extra Space Storage by 147.0% in the first quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust's stock valued at $60,000 after acquiring an additional 241 shares during the period. Parvin Asset Management LLC bought a new stake in shares of Extra Space Storage in the fourth quarter valued at about $62,000. Finally, Wayfinding Financial LLC bought a new stake in shares of Extra Space Storage in the first quarter valued at about $76,000. Institutional investors own 99.11% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on EXR shares. Mizuho upped their price objective on shares of Extra Space Storage from $141.00 to $153.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 28th. BNP Paribas raised shares of Extra Space Storage to a "hold" rating in a research report on Tuesday, June 24th. JPMorgan Chase & Co. upped their price objective 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. Scotiabank upped their price objective on shares of Extra Space Storage from $149.00 to $166.00 and gave the stock a "sector outperform" rating in a research report on Monday, May 12th. Finally, Wall Street Zen raised shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Wednesday, April 30th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $159.29.

Extra Space Storage Trading Up 0.2%

Shares of Extra Space Storage stock traded up $0.32 on Friday, hitting $147.59. The stock had a trading volume of 392,818 shares, compared to its average volume of 1,074,030. The stock has a 50 day moving average of $148.93 and a 200 day moving average of $148.39. Extra Space Storage Inc has a twelve month low of $121.03 and a twelve month high of $184.87. 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 has a market capitalization of $31.32 billion, a P/E ratio of 34.27, a PEG ratio of 3.61 and a beta of 1.10.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.04. Extra Space Storage had a return on equity of 6.11% and a net margin of 27.84%. The company had revenue of $820.00 million during the quarter, compared to the consensus estimate of $705.12 million. During the same quarter in the prior year, the firm posted $1.96 earnings per share. The firm's revenue was up 2.6% compared to the same quarter last year. Sell-side analysts expect that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date of this dividend was Monday, June 16th. Extra Space Storage's dividend payout ratio is presently 150.35%.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on 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. This represents a 21.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate 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.