Raiffeisen Bank International AG Invests $196,000 in Extra Space Storage Inc. (NYSE:EXR)

Raiffeisen Bank International AG purchased a new position in Extra Space Storage Inc. (NYSE:EXR) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,331 shares of the real estate investment trust’s stock, valued at approximately $196,000.

A number of other institutional investors also recently made changes to their positions in the stock. Park Avenue Securities LLC lifted its stake in Extra Space Storage by 20.2% during the fourth quarter. Park Avenue Securities LLC now owns 4,273 shares of the real estate investment trust’s stock valued at $639,000 after purchasing an additional 719 shares during the last quarter. Carnegie Investment Counsel acquired a new stake in Extra Space Storage during the fourth quarter valued at approximately $266,000. Wedge Capital Management L L P NC lifted its stake in Extra Space Storage by 1.3% during 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 purchasing an additional 68 shares during the last quarter. Merit Financial Group LLC lifted its stake in Extra Space Storage by 163.0% during the fourth quarter. Merit Financial Group LLC now owns 3,124 shares of the real estate investment trust’s stock valued at $467,000 after purchasing an additional 1,936 shares during the last quarter. Finally, Arkadios Wealth Advisors lifted its stake in Extra Space Storage by 9.5% during the fourth quarter. Arkadios Wealth Advisors now owns 6,182 shares of the real estate investment trust’s stock valued at $925,000 after purchasing an additional 534 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the transaction, the chief executive officer now owns 9,190 shares in the company, valued at $1,355,065.50. This represents a 44.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP William N. Springer sold 1,220 shares of the 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 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 9,392 shares of company stock worth $1,392,315. 0.96% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

EXR has been the subject of several recent research reports. Royal Bank of Canada cut their target price on shares of Extra Space Storage from $163.00 to $160.00 and set a “sector perform” rating for the company in a research note on Thursday, May 1st. The Goldman Sachs Group reissued a “buy” rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Evercore ISI increased their target price on shares of Extra Space Storage from $144.00 to $149.00 and gave the company an “in-line” rating in a research note on Thursday, May 1st. Benchmark cut their target price on shares of Extra Space Storage from $61.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company reduced their price target on shares of 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. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $158.46.

Extra Space Storage Stock Up 2.2%

Extra Space Storage stock opened at $151.80 on Monday. The firm has a market cap of $32.21 billion, a PE ratio of 39.74, a P/E/G ratio of 7.76 and a beta of 1.14. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The firm’s 50 day moving average price is $143.10 and its two-hundred day moving average price is $151.92. Extra Space Storage Inc. has a twelve month low of $121.03 and a twelve month high of $184.87.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.04. The firm had revenue of $820.00 million for the quarter, compared to analyst estimates of $705.12 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.96 EPS. On average, research analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $1.62 dividend. The ex-dividend date was Friday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.27%. Extra Space Storage’s dividend payout ratio is presently 150.35%.

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.