Zurcher Kantonalbank Zurich Cantonalbank Buys 1,871 Shares of Extra Space Storage Inc. (NYSE:EXR)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Extra Space Storage Inc. (NYSE:EXR) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,645 shares of the real estate investment trust’s stock after buying an additional 1,871 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of Extra Space Storage worth $23,721,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of EXR. Tidal Investments LLC lifted its stake in shares of Extra Space Storage by 262.5% in the 1st quarter. Tidal Investments LLC now owns 12,967 shares of the real estate investment trust’s stock valued at $1,906,000 after purchasing an additional 9,390 shares during the period. Atria Investments Inc lifted its position in Extra Space Storage by 11.3% during the first quarter. Atria Investments Inc now owns 8,081 shares of the real estate investment trust’s stock valued at $1,188,000 after buying an additional 818 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Extra Space Storage by 658.1% during the 1st quarter. Cetera Investment Advisers now owns 45,450 shares of the real estate investment trust’s stock valued at $6,681,000 after buying an additional 39,455 shares in the last quarter. Cetera Advisors LLC purchased a new stake in shares of Extra Space Storage in the 1st quarter worth about $410,000. Finally, GAMMA Investing LLC increased its stake in shares of Extra Space Storage by 97.3% in the 2nd quarter. GAMMA Investing LLC now owns 2,074 shares of the real estate investment trust’s stock worth $322,000 after acquiring an additional 1,023 shares in the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total value of $1,338,900.00. Following the transaction, the chief executive officer now directly owns 24,190 shares of the company’s stock, valued at approximately $4,318,398.80. This trade represents a 23.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kenneth M. Woolley sold 6,647 shares of Extra Space Storage stock in a transaction on Friday, September 13th. The shares were sold at an average price of $177.23, for a total value of $1,178,047.81. Following the transaction, the director now owns 404,306 shares in the company, valued at $71,655,152.38. This trade represents a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,228 shares of company stock worth $3,023,957 in the last three months. 1.36% of the stock is currently owned by company insiders.

Extra Space Storage Stock Down 0.9 %

Shares of Extra Space Storage stock opened at $171.21 on Friday. Extra Space Storage Inc. has a twelve month low of $129.23 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. The company’s 50 day moving average is $169.64 and its 200 day moving average is $164.31. The company has a market cap of $36.29 billion, a price-to-earnings ratio of 44.82, a price-to-earnings-growth ratio of 8.69 and a beta of 0.87.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($1.12). The firm had revenue of $824.80 million for the quarter, compared to the consensus estimate of $826.93 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. Extra Space Storage’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.02 earnings per share. Research analysts anticipate that Extra Space Storage Inc. will post 8.09 EPS for the current year.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $1.62 dividend. The ex-dividend date is Monday, December 16th. This represents a $6.48 annualized dividend and a yield of 3.78%. Extra Space Storage’s payout ratio is 169.63%.

Wall Street Analyst Weigh In

EXR has been the topic of several research reports. Evercore ISI dropped their price objective on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a research note on Monday, October 14th. Wells Fargo & Company restated an “equal weight” rating and issued a $175.00 price target on shares of Extra Space Storage in a research note on Monday, October 21st. KeyCorp lifted their price objective on Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Scotiabank cut their target price on Extra Space Storage from $169.00 to $167.00 and set a “sector underperform” rating on the stock in a research note on Monday, November 25th. Finally, Royal Bank of Canada began coverage on Extra Space Storage in a research report on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $171.36.

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.