Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its position in Extra Space Storage Inc. (NYSE:EXR) by 16.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 599,069 shares of the real estate investment trust’s stock after selling 116,591 shares during the quarter. Hsbc Holdings PLC owned 0.28% of Extra Space Storage worth $92,947,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. GSA Capital Partners LLP acquired a new position in shares of Extra Space Storage in the 4th quarter worth approximately $3,304,000. State of Tennessee Treasury Department lifted its holdings in shares of Extra Space Storage by 252.1% in the 4th quarter. State of Tennessee Treasury Department now owns 114,819 shares of the real estate investment trust’s stock worth $18,409,000 after purchasing an additional 82,207 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Extra Space Storage by 19.3% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 247,203 shares of the real estate investment trust’s stock worth $36,307,000 after purchasing an additional 40,055 shares during the last quarter. Norden Group LLC bought a new stake in shares of Extra Space Storage in the 1st quarter worth approximately $1,947,000. Finally, Gateway Investment Advisers LLC bought a new stake in shares of Extra Space Storage in the 2nd quarter worth approximately $16,026,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Stock Up 1.6 %

Shares of EXR stock opened at $181.65 on Thursday. Extra Space Storage Inc. has a 1 year low of $101.19 and a 1 year high of $184.87. The stock has a market cap of $38.46 billion, a PE ratio of 40.46, a price-to-earnings-growth ratio of 2.56 and a beta of 0.86. The business’s fifty day moving average is $169.24 and its 200-day moving average is $154.28. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.20 and a current ratio of 0.20.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend is Monday, September 16th. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.32%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Royal Bank of Canada assumed coverage on Extra Space Storage in a report on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 price target on the stock. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. Raymond James raised their price target on Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. KeyCorp lifted their target price on Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Finally, Barclays lifted their target price on Extra Space Storage from $158.00 to $188.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Extra Space Storage currently has a consensus rating of “Hold” and an average price target of $170.93.

Insider Activity

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Monday, July 1st. The stock was sold at an average price of $152.58, for a total value of $1,144,350.00. Following the transaction, the chief executive officer now directly owns 31,690 shares in the company, valued at approximately $4,835,260.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Monday, July 1st. The stock was sold at an average price of $152.58, for a total value of $1,144,350.00. Following the transaction, the chief executive officer now directly owns 31,690 shares in the company, valued at approximately $4,835,260.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gwyn Goodson Mcneal sold 2,823 shares of Extra Space Storage stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $177.01, for a total value of $499,699.23. Following the completion of the transaction, the executive vice president now owns 32,855 shares in the company, valued at $5,815,663.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,970 shares of company stock worth $3,172,757. 1.36% of the stock is owned by company insiders.

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.