Park Avenue Securities LLC Sells 219 Shares of Extra Space Storage Inc. (NYSE:EXR)

Park Avenue Securities LLC decreased its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 5.8% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 3,554 shares of the real estate investment trust’s stock after selling 219 shares during the period. Park Avenue Securities LLC’s holdings in Extra Space Storage were worth $640,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Czech National Bank boosted its position in shares of Extra Space Storage by 7.0% in the third quarter. Czech National Bank now owns 43,172 shares of the real estate investment trust’s stock valued at $7,779,000 after acquiring an additional 2,826 shares during the period. Mattson Financial Services LLC purchased a new stake in Extra Space Storage in the 2nd quarter worth approximately $1,619,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Extra Space Storage by 322.2% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 38,000 shares of the real estate investment trust’s stock valued at $5,906,000 after purchasing an additional 29,000 shares during the period. Sanctuary Advisors LLC bought a new position in Extra Space Storage in the 2nd quarter worth about $2,631,000. Finally, Brown Financial Advisors purchased a new stake in shares of Extra Space Storage in the 2nd quarter valued at about $840,000. Institutional investors own 99.11% of the company’s stock.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 24,190 shares in the company, valued at approximately $4,318,398.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Extra Space Storage news, Director Kenneth M. Woolley sold 6,647 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 404,306 shares in the company, valued at $71,655,152.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total value of $1,338,900.00. Following the sale, the chief executive officer now directly owns 24,190 shares in the company, valued at $4,318,398.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,970 shares of company stock worth $3,367,307. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Performance

EXR stock opened at $169.77 on Friday. The company has a market cap of $35.94 billion, a P/E ratio of 37.99, a price-to-earnings-growth ratio of 2.67 and a beta of 0.86. 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 stock’s fifty day moving average price is $173.27 and its 200-day moving average price is $157.73.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $1.62 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $6.48 annualized dividend and a yield of 3.82%. Extra Space Storage’s payout ratio is presently 144.32%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on EXR shares. Jefferies Financial Group upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and upped their price objective for the stock from $162.00 to $204.00 in a research report on Wednesday, September 18th. Bank of America lowered Extra Space Storage from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $172.00 to $155.00 in a research report on Monday, August 5th. Truist Financial raised their target price on shares of Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Royal Bank of Canada started coverage on Extra Space Storage in a research report on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 target price for the company. Finally, KeyCorp boosted their price objective 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. 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $170.93.

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.