Bank of Nova Scotia Has $4.09 Million Holdings in Extra Space Storage Inc $EXR

Bank of Nova Scotia grew its holdings in Extra Space Storage Inc (NYSE:EXR) by 17.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,705 shares of the real estate investment trust’s stock after purchasing an additional 4,204 shares during the period. Bank of Nova Scotia’s holdings in Extra Space Storage were worth $4,085,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. GKV Capital Management Co. Inc. purchased a new position in Extra Space Storage during the first quarter valued at approximately $29,000. Chung Wu Investment Group LLC acquired a new stake in shares of Extra Space Storage during the 2nd quarter valued at $29,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Extra Space Storage during the 2nd quarter valued at $37,000. MTM Investment Management LLC purchased a new position in shares of Extra Space Storage during the 2nd quarter valued at $38,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Extra Space Storage in the second quarter worth $75,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on EXR shares. Citigroup reduced their price objective on Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Friday, August 22nd. Truist Financial cut their price target on Extra Space Storage from $158.00 to $150.00 and set a “hold” rating for the company in a research note on Tuesday, August 19th. Wall Street Zen lowered Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. The Goldman Sachs Group restated a “neutral” rating and issued a $146.00 price objective (down previously from $169.00) on shares of Extra Space Storage in a report on Thursday, August 21st. Finally, Mizuho cut their price objective on shares of Extra Space Storage from $154.00 to $137.00 and set an “outperform” rating on the stock in a research report on Friday, December 5th. Six analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $147.53.

Extra Space Storage Price Performance

NYSE EXR opened at $133.04 on Friday. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $162.77. The company has a fifty day simple moving average of $137.47 and a 200 day simple moving average of $142.45. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.89. The company has a market cap of $28.24 billion, a P/E ratio of 29.70, a P/E/G ratio of 2.47 and a beta of 1.27.

Extra Space Storage (NYSE:EXR) last released its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.02. Extra Space Storage had a net margin of 28.40% and a return on equity of 6.56%. The firm had revenue of $858.46 million during the quarter, compared to analyst estimates of $736.26 million. During the same quarter in the previous year, the business earned $2.07 EPS. The business’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. On average, sell-side analysts predict that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be paid a dividend of $1.62 per share. The ex-dividend date is Monday, December 15th. This represents a $6.48 annualized dividend and a yield of 4.9%. Extra Space Storage’s dividend payout ratio is presently 144.64%.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $141.41, for a total value of $1,060,575.00. Following the transaction, the chief executive officer directly owned 19,760 shares of the company’s stock, valued at $2,794,261.60. The trade was a 27.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.96% of the stock is owned by company insiders.

Extra Space Storage 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.