Banco Bilbao Vizcaya Argentaria S.A. Reduces Position in Extra Space Storage Inc. (NYSE:EXR)

Banco Bilbao Vizcaya Argentaria S.A. lowered its holdings in Extra Space Storage Inc. (NYSE:EXR) by 32.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,205 shares of the real estate investment trust’s stock after selling 2,554 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Extra Space Storage were worth $778,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of EXR. Oregon Public Employees Retirement Fund boosted its stake in shares of Extra Space Storage by 0.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,160 shares of the real estate investment trust’s stock valued at $2,717,000 after buying an additional 66 shares during the last quarter. Wedge Capital Management L L P NC raised its holdings in Extra Space Storage by 1.3% in the fourth quarter. Wedge Capital Management L L P NC now owns 5,138 shares of the real estate investment trust’s stock valued at $769,000 after acquiring an additional 68 shares in the last quarter. Lindbrook Capital LLC boosted its stake in Extra Space Storage by 14.9% during the 4th quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust’s stock valued at $78,000 after acquiring an additional 68 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in Extra Space Storage by 5.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,327 shares of the real estate investment trust’s stock worth $199,000 after acquiring an additional 73 shares in the last quarter. Finally, Checchi Capital Advisers LLC increased its position in shares of Extra Space Storage by 2.2% in the 4th quarter. Checchi Capital Advisers LLC now owns 3,449 shares of the real estate investment trust’s stock worth $516,000 after purchasing an additional 75 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on EXR shares. The Goldman Sachs Group reiterated a “buy” rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Wells Fargo & Company decreased their target price on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research report on Friday, February 21st. Scotiabank raised Extra Space Storage from a “sector perform” rating to a “sector outperform” rating and dropped their price target for the company from $165.00 to $149.00 in a research report on Wednesday, April 9th. StockNews.com downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday, March 7th. Finally, Royal Bank of Canada dropped their target price on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Extra Space Storage has an average rating of “Hold” and a consensus price target of $167.25.

Extra Space Storage Trading Down 0.6 %

Extra Space Storage stock opened at $141.05 on Monday. The firm has a 50-day moving average price of $145.51 and a two-hundred day moving average price of $154.10. Extra Space Storage Inc. has a 52-week low of $121.03 and a 52-week high of $184.87. The firm has a market capitalization of $29.93 billion, a price-to-earnings ratio of 36.92, a PEG ratio of 7.76 and a beta of 0.96. 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) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.93. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. Sell-side analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.59%. The ex-dividend date was Friday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is presently 160.40%.

Insider Activity at Extra Space Storage

In other news, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction on Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following the transaction, the executive vice president now directly owns 20,158 shares in the company, valued at approximately $3,077,320.28. This trade represents a 5.71 % 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, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total value of $1,105,875.00. Following the completion of the sale, the chief executive officer now directly owns 9,190 shares in the company, valued at $1,355,065.50. This represents a 44.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,392 shares of company stock worth $1,392,315 over the last quarter. 1.36% of the stock is currently owned by company insiders.

Extra Space Storage Company 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.