BNP Paribas Financial Markets Has $61.62 Million Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

BNP Paribas Financial Markets raised its stake in Extra Space Storage Inc. (NYSE:EXR) by 31.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 341,983 shares of the real estate investment trust’s stock after buying an additional 82,587 shares during the quarter. BNP Paribas Financial Markets owned 0.16% of Extra Space Storage worth $61,622,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in EXR. Pathway Financial Advisers LLC increased its stake in Extra Space Storage by 17,832.9% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust’s stock valued at $363,783,000 after buying an additional 2,007,626 shares during the period. Boston Partners acquired a new position in shares of Extra Space Storage during the 1st quarter worth $130,554,000. American Century Companies Inc. increased its stake in shares of Extra Space Storage by 543.5% during the 2nd quarter. American Century Companies Inc. now owns 397,170 shares of the real estate investment trust’s stock worth $61,724,000 after purchasing an additional 335,447 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Extra Space Storage by 20.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,877,100 shares of the real estate investment trust’s stock worth $291,720,000 after purchasing an additional 319,965 shares during the last quarter. Finally, Mizuho Securities USA LLC increased its stake in shares of Extra Space Storage by 1,664.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 288,094 shares of the real estate investment trust’s stock worth $51,912,000 after purchasing an additional 271,765 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Royal Bank of Canada assumed coverage on shares of Extra Space Storage in a research note on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 price target on the stock. KeyCorp increased their price target on shares of Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Scotiabank dropped their price target on shares of Extra Space Storage from $169.00 to $167.00 and set a “sector underperform” rating on the stock in a research note on Monday. Bank of America lowered shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $172.00 to $155.00 in a research note on Monday, August 5th. Finally, Truist Financial raised their target price on shares of Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a research note on Friday, August 16th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Extra Space Storage currently has a consensus rating of “Hold” and a consensus target price of $171.36.

Extra Space Storage Price Performance

NYSE:EXR opened at $172.68 on Thursday. The company has a 50-day moving average of $169.97 and a 200-day moving average of $164.09. The company has a market capitalization of $36.60 billion, a price-to-earnings ratio of 45.20, a PEG ratio of 8.58 and a beta of 0.87. Extra Space Storage Inc. has a 52 week low of $125.82 and a 52 week high of $184.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). The business had revenue of $824.80 million for the quarter, compared to the consensus estimate of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. Extra Space Storage’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.02 earnings per share. As a group, equities research analysts anticipate that Extra Space Storage Inc. will post 8.09 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend is Monday, December 16th. Extra Space Storage’s dividend payout ratio (DPR) is currently 169.63%.

Insider Buying and Selling

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the completion of the sale, the chief executive officer now owns 24,190 shares in the company, valued at $4,318,398.80. This trade represents a 23.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kenneth M. Woolley sold 6,647 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $177.23, for a total transaction of $1,178,047.81. Following the sale, the director now owns 404,306 shares of the company’s stock, valued at $71,655,152.38. This trade represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,228 shares of company stock worth $3,023,957 in the last quarter. 1.36% of the stock is 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.