OVERSEA CHINESE BANKING Corp Ltd Lowers Stock Position in Extra Space Storage Inc $EXR

OVERSEA CHINESE BANKING Corp Ltd reduced its position in shares of Extra Space Storage Inc (NYSE:EXR) by 30.8% during the third quarter, Holdings Channel reports. The firm owned 33,158 shares of the real estate investment trust’s stock after selling 14,774 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Extra Space Storage were worth $4,673,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Oregon Public Employees Retirement Fund boosted its holdings in shares of Extra Space Storage by 32.0% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 24,240 shares of the real estate investment trust’s stock worth $3,416,000 after buying an additional 5,870 shares during the last quarter. Ethic Inc. grew its position in shares of Extra Space Storage by 298.0% during the 3rd quarter. Ethic Inc. now owns 22,441 shares of the real estate investment trust’s stock valued at $3,163,000 after acquiring an additional 16,802 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of Extra Space Storage by 16.6% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 118,675 shares of the real estate investment trust’s stock worth $17,497,000 after purchasing an additional 16,897 shares during the last quarter. AlphaCore Capital LLC lifted its stake in Extra Space Storage by 53.5% in the second quarter. AlphaCore Capital LLC now owns 5,077 shares of the real estate investment trust’s stock valued at $749,000 after purchasing an additional 1,769 shares during the last quarter. Finally, Versor Investments LP grew its holdings in Extra Space Storage by 215.7% during the second quarter. Versor Investments LP now owns 10,068 shares of the real estate investment trust’s stock valued at $1,484,000 after purchasing an additional 6,879 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. UBS Group dropped their price target on Extra Space Storage from $156.00 to $148.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Morgan Stanley lowered their price target on shares of Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating on the stock in a research report on Friday, December 5th. Royal Bank Of Canada dropped their price target on shares of Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating on the stock in a research note on Friday, November 7th. Mizuho lifted their price objective on shares of Extra Space Storage from $137.00 to $143.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Wall Street Zen cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Six equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Extra Space Storage has a consensus rating of “Hold” and an average price target of $146.27.

Extra Space Storage Stock Up 3.1%

EXR opened at $144.88 on Thursday. The company has a fifty day moving average price of $132.27 and a 200-day moving average price of $139.81. The firm has a market capitalization of $30.75 billion, a P/E ratio of 32.34, a price-to-earnings-growth ratio of 2.60 and a beta of 1.27. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.24 and a quick ratio of 0.24. Extra Space Storage Inc has a one year low of $121.03 and a one year high of $162.77.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.02. The company had revenue of $858.46 million for the quarter, compared to the consensus estimate of $736.26 million. Extra Space Storage had a return on equity of 6.56% and a net margin of 28.40%.The firm’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.07 earnings per share. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. Equities research analysts expect that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were issued a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.5%. Extra Space Storage’s payout ratio is presently 144.64%.

Extra Space Storage Company Profile

Extra Space Storage (NYSE: EXR) is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.