Extra Space Storage Inc. (NYSE:EXR) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 4.9% during the third quarter, Holdings Channel reports. The firm owned 2,366,107 shares of the real estate investment trust’s stock after buying an additional 111,137 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Extra Space Storage were worth $426,349,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of EXR. Landscape Capital Management L.L.C. purchased a new stake in Extra Space Storage in the third quarter valued at approximately $3,741,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Extra Space Storage during the 3rd quarter valued at $334,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Extra Space Storage during the 3rd quarter worth approximately $1,144,000. Pathstone Holdings LLC increased its stake in Extra Space Storage by 1.1% during the third quarter. Pathstone Holdings LLC now owns 13,027 shares of the real estate investment trust’s stock valued at $2,347,000 after purchasing an additional 148 shares during the last quarter. Finally, Swiss National Bank raised its position in shares of Extra Space Storage by 0.3% during the 3rd quarter. Swiss National Bank now owns 628,327 shares of the real estate investment trust’s stock worth $113,218,000 after purchasing an additional 1,900 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Trading Up 1.4 %

Shares of Extra Space Storage stock opened at $167.32 on Friday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The company’s fifty day simple moving average is $170.84 and its 200-day simple moving average is $163.18. Extra Space Storage Inc. has a 1 year low of $125.32 and a 1 year high of $184.87. The company has a market cap of $35.47 billion, a price-to-earnings ratio of 43.80, a PEG ratio of 8.34 and a beta of 0.87.

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

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.87%. The ex-dividend date is Monday, December 16th. Extra Space Storage’s dividend payout ratio is currently 169.63%.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, EVP William N. Springer sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total transaction of $350,660.00. Following the transaction, the executive vice president now directly owns 11,919 shares in the company, valued at approximately $2,089,758.27. This represents a 14.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Diane Olmstead sold 3,081 shares of Extra Space Storage stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $164.56, for a total transaction of $507,009.36. Following the sale, the director now owns 5,877 shares of the company’s stock, valued at approximately $967,119.12. This represents a 34.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,228 shares of company stock valued at $3,374,617 in the last three months. 1.36% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Truist Financial raised their price objective on Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Royal Bank of Canada initiated coverage on shares of 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. Jefferies Financial Group upgraded Extra Space Storage from a “hold” rating to a “buy” rating and upped their target price for the company from $162.00 to $204.00 in a report on Wednesday, September 18th. Finally, Evercore ISI cut their price objective on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a report on Monday, October 14th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $171.50.

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.