Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 1.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,736 shares of the real estate investment trust’s stock after selling 836 shares during the quarter. Corebridge Financial Inc.’s holdings in Extra Space Storage were worth $8,338,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in EXR. Golden State Wealth Management LLC bought a new stake in Extra Space Storage in the fourth quarter valued at $25,000. Harbour Investments Inc. lifted its position in Extra Space Storage by 90.9% in the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 80 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Extra Space Storage during the 3rd quarter valued at about $42,000. Quent Capital LLC boosted its stake in Extra Space Storage by 89.0% during the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 154 shares during the period. Finally, Asset Planning Inc bought a new position in Extra Space Storage in the 4th quarter worth about $52,000. 99.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

EXR has been the topic of a number of recent analyst reports. Scotiabank cut their price target on Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 5th. Truist Financial boosted their price target on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Wells Fargo & Company decreased their price target on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. Barclays cut their price objective on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 12th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Extra Space Storage has a consensus rating of “Hold” and a consensus target price of $171.09.

Extra Space Storage Stock Down 0.2 %

NYSE EXR opened at $145.32 on Friday. Extra Space Storage Inc. has a 12 month low of $131.02 and a 12 month high of $184.87. The company has a market capitalization of $30.81 billion, a P/E ratio of 38.04, a PEG ratio of 7.76 and a beta of 0.90. The company’s 50 day simple moving average is $152.44 and its 200 day simple moving average is $160.33. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.93. The company had revenue of $821.90 million for the quarter, compared to analysts’ expectations of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. Equities research analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.46%. Extra Space Storage’s payout ratio is presently 160.40%.

Insider Buying and Selling at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the sale, the chief executive officer now owns 16,690 shares in the company, valued at approximately $2,470,286.90. This represents a 31.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William N. Springer sold 1,220 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 20,158 shares of the company’s stock, valued at $3,077,320.28. This represents a 5.71 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,392 shares of company stock valued at $1,396,515. 1.36% of the stock is currently owned by corporate insiders.

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.