Gulf International Bank UK Ltd Decreases Position in Extra Space Storage Inc. (NYSE:EXR)

Gulf International Bank UK Ltd lowered its position in Extra Space Storage Inc. (NYSE:EXR) by 4.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,695 shares of the real estate investment trust’s stock after selling 751 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Extra Space Storage were worth $3,008,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Extra Space Storage by 19.3% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 247,203 shares of the real estate investment trust’s stock valued at $36,307,000 after buying an additional 40,055 shares during the last quarter. Gateway Investment Advisers LLC acquired a new position in shares of Extra Space Storage in the second quarter valued at approximately $16,026,000. Centersquare Investment Management LLC increased its holdings in shares of Extra Space Storage by 1.3% in the first quarter. Centersquare Investment Management LLC now owns 2,546,475 shares of the real estate investment trust’s stock valued at $341,941,000 after purchasing an additional 32,591 shares during the period. MADDEN SECURITIES Corp acquired a new position in shares of Extra Space Storage in the second quarter valued at approximately $1,002,000. Finally, Tidal Investments LLC increased its holdings in shares of Extra Space Storage by 262.5% in the first 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. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Activity

In related news, EVP William N. Springer sold 2,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP William N. Springer sold 2,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gwyn Goodson Mcneal sold 2,823 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $177.01, for a total value of $499,699.23. Following the transaction, the executive vice president now owns 32,855 shares in the company, valued at $5,815,663.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,970 shares of company stock worth $3,367,307 over the last three months. 1.36% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

EXR has been the topic of a number of recent research reports. Royal Bank of Canada initiated coverage on Extra Space Storage in a report on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 target price on the stock. Scotiabank boosted their target price on Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a report on Thursday, August 22nd. StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Wells Fargo & Company reissued an “equal weight” rating and issued a $175.00 target price on shares of Extra Space Storage in a report on Monday, October 21st. Finally, Bank of America lowered Extra Space Storage from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $172.00 to $155.00 in a report on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $171.07.

Extra Space Storage Stock Down 4.5 %

Extra Space Storage stock opened at $161.03 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.20 and a current ratio of 0.23. The firm has a market capitalization of $34.13 billion, a price-to-earnings ratio of 42.15, a price-to-earnings-growth ratio of 6.06 and a beta of 0.87. Extra Space Storage Inc. has a fifty-two week low of $104.88 and a fifty-two week high of $184.87. The stock’s fifty day moving average is $173.03 and its two-hundred day moving average is $161.17.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($1.12). Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The company had revenue of $824.80 million during the quarter, compared to analysts’ expectations of $826.93 million. During the same quarter in the prior year, the company earned $2.02 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. Analysts predict that Extra Space Storage Inc. will post 8.08 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $1.62 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $6.48 annualized dividend and a dividend yield of 4.02%. Extra Space Storage’s dividend payout ratio is currently 169.63%.

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.