iA Global Asset Management Inc. Sells 604 Shares of Extra Space Storage Inc. (NYSE:EXR)

iA Global Asset Management Inc. decreased its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 19.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,533 shares of the real estate investment trust’s stock after selling 604 shares during the period. iA Global Asset Management Inc.’s holdings in Extra Space Storage were worth $372,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EXR. EdgeRock Capital LLC bought a new stake in Extra Space Storage during the 4th quarter worth approximately $26,000. Creekmur Asset Management LLC bought a new stake in Extra Space Storage during the 4th quarter worth approximately $26,000. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Extra Space Storage by 200.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 300 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 200 shares during the period. Cornerstone Advisors LLC bought a new stake in shares of Extra Space Storage during the first quarter valued at approximately $74,000. Finally, Parkside Financial Bank & Trust raised its position in shares of Extra Space Storage by 30.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 515 shares of the real estate investment trust’s stock valued at $83,000 after buying an additional 119 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on EXR shares. Wells Fargo & Company lifted their price objective on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Citigroup cut their target price on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, June 7th. Raymond James raised their target price on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Evercore ISI raised their target price on shares of Extra Space Storage from $140.00 to $151.00 and gave the company an “in-line” rating in a report on Monday, July 15th. Finally, Barclays raised their target price on shares of Extra Space Storage from $157.00 to $158.00 and gave the company an “overweight” rating in a report on Monday, May 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $157.67.

Insider Transactions at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the sale, the chief executive officer now owns 31,690 shares in the company, valued at $4,835,260.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $152.58, for a total value of $1,144,350.00. Following the sale, the chief executive officer now owns 31,690 shares in the company, valued at $4,835,260.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph J. Bonner sold 677 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $148.22, for a total value of $100,344.94. Following the completion of the sale, the director now owns 5,229 shares in the company, valued at approximately $775,042.38. The disclosure for this sale can be found here. Insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Up 2.8 %

Extra Space Storage stock traded up $4.44 during trading hours on Friday, reaching $164.30. The stock had a trading volume of 577,255 shares, compared to its average volume of 1,076,415. The company has a market cap of $34.79 billion, a price-to-earnings ratio of 35.98, a PEG ratio of 3.36 and a beta of 0.83. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.15 and a quick ratio of 0.15. The business’s 50 day moving average price is $155.60 and its 200-day moving average price is $147.56. Extra Space Storage Inc. has a 52 week low of $101.19 and a 52 week high of $171.46.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $2.00 by ($1.12). The firm had revenue of $810.66 million during the quarter, compared to the consensus estimate of $815.52 million. Extra Space Storage had a return on equity of 5.40% and a net margin of 25.82%. The business’s revenue for the quarter was up 58.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.06 earnings per share. Sell-side analysts anticipate that Extra Space Storage Inc. will post 8.04 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.94%. Extra Space Storage’s payout ratio is 144.32%.

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.