KBC Group NV Sells 815 Shares of Extra Space Storage Inc $EXR

KBC Group NV cut its holdings in Extra Space Storage Inc (NYSE:EXR) by 1.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,527 shares of the real estate investment trust’s stock after selling 815 shares during the period. KBC Group NV’s holdings in Extra Space Storage were worth $6,712,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in EXR. National Pension Service boosted its stake in shares of Extra Space Storage by 0.7% in the 2nd quarter. National Pension Service now owns 319,065 shares of the real estate investment trust’s stock valued at $47,043,000 after purchasing an additional 2,370 shares during the last quarter. Vise Technologies Inc. purchased a new position in Extra Space Storage in the second quarter worth $262,000. ProShare Advisors LLC lifted its stake in Extra Space Storage by 7.9% in the second quarter. ProShare Advisors LLC now owns 43,760 shares of the real estate investment trust’s stock valued at $6,452,000 after purchasing an additional 3,216 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Extra Space Storage in the second quarter worth $11,161,000. Finally, Global Wealth Management Investment Advisory Inc. raised its stake in Extra Space Storage by 0.6% in the 2nd quarter. Global Wealth Management Investment Advisory Inc. now owns 23,360 shares of the real estate investment trust’s stock valued at $3,444,000 after acquiring an additional 148 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $141.41, for a total value of $1,060,575.00. Following the transaction, the chief executive officer owned 19,760 shares in the company, valued at approximately $2,794,261.60. This trade represents a 27.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.96% of the stock is owned by company insiders.

Extra Space Storage Stock Up 0.7%

Extra Space Storage stock opened at $132.89 on Friday. The firm has a 50 day moving average price of $141.77 and a 200 day moving average price of $144.68. Extra Space Storage Inc has a fifty-two week low of $121.03 and a fifty-two week high of $175.57. The company has a market capitalization of $28.21 billion, a PE ratio of 29.66, a price-to-earnings-growth ratio of 2.56 and a beta of 1.14. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.29.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 EPS for the quarter, topping the consensus estimate of $2.06 by $0.02. Extra Space Storage had a net margin of 28.40% and a return on equity of 6.53%. The company had revenue of $858.46 million during the quarter, compared to analysts’ expectations of $736.26 million. During the same quarter in the previous year, the business posted $2.07 EPS. The firm’s revenue was up 4.1% on a year-over-year basis. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. Research analysts expect that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.9%. The ex-dividend date was Monday, September 15th. Extra Space Storage’s dividend payout ratio is currently 144.64%.

Wall Street Analysts Forecast Growth

EXR has been the topic of several recent analyst reports. Evercore ISI reiterated a “cautious” rating on shares of Extra Space Storage in a research note on Monday, November 3rd. Citigroup cut their price target on Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating for the company in a report on Friday, August 22nd. The Goldman Sachs Group reiterated a “neutral” rating and issued a $146.00 target price (down previously from $169.00) on shares of Extra Space Storage in a report on Thursday, August 21st. Barclays cut their price objective on Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. Finally, UBS Group cut their target price on shares of Extra Space Storage from $169.00 to $160.00 and set a “buy” rating on the stock in a research report on Tuesday, September 16th. Six research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $148.36.

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.