Extra Space Storage Inc. (NYSE:EXR) Stock Position Raised by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 17.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 118,087 shares of the real estate investment trust's stock after buying an additional 17,163 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of Extra Space Storage worth $18,933,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Extra Space Storage by 55.7% during the third quarter. Vanguard Group Inc. now owns 33,686,341 shares of the real estate investment trust's stock worth $4,095,585,000 after buying an additional 12,055,172 shares in the last quarter. State Street Corp increased its position in Extra Space Storage by 6.0% during the first quarter. State Street Corp now owns 9,397,883 shares of the real estate investment trust's stock worth $1,531,197,000 after buying an additional 533,145 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Extra Space Storage by 22.1% in the third quarter. Principal Financial Group Inc. now owns 6,505,834 shares of the real estate investment trust's stock valued at $790,975,000 after purchasing an additional 1,178,760 shares during the period. JPMorgan Chase & Co. increased its stake in Extra Space Storage by 599.8% in the third quarter. JPMorgan Chase & Co. now owns 3,345,787 shares of the real estate investment trust's stock valued at $406,781,000 after purchasing an additional 2,867,657 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Extra Space Storage by 1.5% in the first quarter. Geode Capital Management LLC now owns 3,183,153 shares of the real estate investment trust's stock valued at $517,605,000 after purchasing an additional 47,305 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Raymond James reiterated an "outperform" rating and issued a $160.00 target price on shares of Extra Space Storage in a research note on Thursday, March 28th. The Goldman Sachs Group upped their target price on Extra Space Storage from $168.00 to $187.00 and gave the company a "buy" rating in a research note on Thursday, January 11th. Scotiabank assumed coverage on Extra Space Storage in a research note on Tuesday, February 13th. They issued a "sector underperform" rating and a $131.00 target price for the company. StockNews.com lowered Extra Space Storage from a "hold" rating to a "sell" rating in a research note on Saturday, March 2nd. Finally, Morgan Stanley upgraded Extra Space Storage from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $115.00 to $150.00 in a research note on Thursday, December 21st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $150.17.

Insider Transactions at Extra Space Storage

In other news, CMO Samrat Sondhi sold 2,048 shares of the company's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $146.46, for a total value of $299,950.08. Following the completion of the sale, the chief marketing officer now owns 94,126 shares of the company's stock, valued at $13,785,693.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $146.46, for a total value of $299,950.08. Following the completion of the transaction, the chief marketing officer now owns 94,126 shares of the company's stock, valued at $13,785,693.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $145.00, for a total value of $195,750.00. Following the completion of the transaction, the executive vice president now directly owns 37,028 shares of the company's stock, valued at approximately $5,369,060. The disclosure for this sale can be found here. Insiders sold 3,532 shares of company stock valued at $514,819 over the last quarter. Company insiders own 1.36% of the company's stock.

Extra Space Storage Trading Down 1.3 %

NYSE:EXR traded down $1.68 on Friday, hitting $132.52. 1,481,531 shares of the stock were exchanged, compared to its average volume of 1,175,736. Extra Space Storage Inc. has a fifty-two week low of $101.19 and a fifty-two week high of $164.99. The stock has a fifty day moving average of $142.57 and a 200-day moving average of $137.52. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.71. The stock has a market cap of $28.04 billion, a PE ratio of 26.83, a PEG ratio of 3.34 and a beta of 0.74.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($1.01). Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. The company had revenue of $797.77 million during the quarter, compared to analysts' expectations of $778.05 million. During the same period in the previous year, the company earned $2.09 EPS. Extra Space Storage's quarterly revenue was up 57.4% on a year-over-year basis. As a group, equities analysts expect that Extra Space Storage Inc. will post 8.05 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.89%. The ex-dividend date was Thursday, March 14th. Extra Space Storage's payout ratio is 131.17%.

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.