Mercer Global Advisors Inc. ADV Has $568,000 Position in Extra Space Storage Inc. (NYSE:EXR)

Mercer Global Advisors Inc. ADV increased its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 8.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,599 shares of the real estate investment trust’s stock after acquiring an additional 270 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Extra Space Storage were worth $568,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV increased its position in shares of Extra Space Storage by 19.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 76 shares during the last quarter. QRG Capital Management Inc. increased its position in shares of Extra Space Storage by 5.2% in the first quarter. QRG Capital Management Inc. now owns 1,588 shares of the real estate investment trust’s stock worth $233,000 after purchasing an additional 78 shares during the last quarter. Park Avenue Securities LLC raised its position in Extra Space Storage by 2.1% during the second quarter. Park Avenue Securities LLC now owns 3,773 shares of the real estate investment trust’s stock valued at $586,000 after purchasing an additional 79 shares in the last quarter. Gallacher Capital Management LLC raised its holdings in shares of Extra Space Storage by 1.2% during the 2nd quarter. Gallacher Capital Management LLC now owns 7,433 shares of the real estate investment trust’s stock valued at $1,155,000 after buying an additional 86 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of Extra Space Storage by 0.6% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 18,144 shares of the real estate investment trust’s stock worth $2,820,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Insider Buying and Selling at Extra Space Storage

In related news, Director Kenneth M. Woolley sold 6,647 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $177.23, for a total transaction of $1,178,047.81. Following the completion of the sale, the director now owns 404,306 shares of the company’s stock, valued at $71,655,152.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Kenneth M. Woolley sold 6,647 shares of Extra Space Storage stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $177.23, for a total value of $1,178,047.81. Following the completion of the sale, the director now directly owns 404,306 shares in the company, valued at approximately $71,655,152.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the completion of the transaction, the chief executive officer now directly owns 31,690 shares of the company’s stock, valued at approximately $4,835,260.20. The disclosure for this sale can be found here. Insiders have sold 18,970 shares of company stock worth $3,172,757 over the last quarter. Insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Performance

EXR stock opened at $177.23 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.20 and a quick ratio of 0.20. Extra Space Storage Inc. has a 1-year low of $101.19 and a 1-year high of $184.87. The business has a 50-day moving average price of $171.25 and a 200 day moving average price of $155.65. The company has a market capitalization of $37.52 billion, a P/E ratio of 39.64, a PEG ratio of 2.67 and a beta of 0.86.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $1.62 per share. The ex-dividend date is Monday, September 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.66%. Extra Space Storage’s dividend payout ratio is presently 144.32%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on EXR shares. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada initiated coverage on shares of Extra Space Storage in a research report on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 price target for the company. Truist Financial increased their target price on Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Bank of America lowered shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $172.00 to $155.00 in a report on Monday, August 5th. Finally, Wells Fargo & Company upped their target price on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $170.93.

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.