Toronto Dominion Bank Sells 54,010 Shares of Extra Space Storage Inc. (NYSE:EXR)

Toronto Dominion Bank cut its stake in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 32.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 113,410 shares of the real estate investment trust's stock after selling 54,010 shares during the quarter. Toronto Dominion Bank owned 0.05% of Extra Space Storage worth $16,966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of EXR. Norges Bank bought a new stake in Extra Space Storage in the fourth quarter valued at approximately $938,647,000. Northern Trust Corp raised its holdings in Extra Space Storage by 48.7% during the 4th quarter. Northern Trust Corp now owns 2,875,049 shares of the real estate investment trust's stock valued at $430,107,000 after buying an additional 941,212 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in Extra Space Storage during the 4th quarter valued at $107,453,000. Manning & Napier Advisors LLC boosted its position in Extra Space Storage by 1,127.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust's stock valued at $116,985,000 after buying an additional 718,266 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC grew its holdings in Extra Space Storage by 91.2% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,089,753 shares of the real estate investment trust's stock worth $163,027,000 after acquiring an additional 519,934 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.

Insider Activity at Extra Space Storage

In other news, EVP William N. Springer sold 1,220 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $152.66, for a total value of $186,245.20. Following the transaction, the executive vice president now owns 20,158 shares in the company, valued at $3,077,320.28. This represents a 5.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the completion of the transaction, the chief executive officer now directly owns 9,190 shares in the company, valued at approximately $1,355,065.50. The trade was a 44.94% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,392 shares of company stock worth $1,392,315. 0.96% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Evercore ISI upped their price objective on shares of Extra Space Storage from $144.00 to $149.00 and gave the company an "in-line" rating in a research note on Thursday, May 1st. Royal Bank of Canada lowered their price target on Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating for the company in a research report on Thursday, May 1st. Mizuho initiated coverage on shares of Extra Space Storage in a research report on Wednesday, April 9th. They issued an "outperform" rating and a $141.00 target price for the company. Benchmark dropped their price target on Extra Space Storage from $61.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Finally, Barclays lowered their price target on shares of Extra Space Storage from $181.00 to $178.00 and set an "overweight" rating for the company in a research report on Friday. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $158.46.

Extra Space Storage Stock Up 0.6%

EXR opened at $152.60 on Tuesday. The stock has a market capitalization of $32.38 billion, a price-to-earnings ratio of 39.95, a PEG ratio of 7.76 and a beta of 1.14. The firm has a 50 day moving average price of $143.17 and a 200-day moving average price of $151.86. Extra Space Storage Inc. has a twelve month low of $121.03 and a twelve month high of $184.87. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.04. The company had revenue of $820.00 million for the quarter, compared to analysts' expectations of $705.12 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The firm's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company posted $1.96 earnings per share. Equities research analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.25%. The ex-dividend date was Friday, March 14th. Extra Space Storage's payout ratio is currently 150.35%.

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.

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