Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC lowered its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 1.8% in the third quarter, HoldingsChannel.com reports. The firm owned 20,735 shares of the real estate investment trust’s stock after selling 370 shares during the period. Private Advisor Group LLC’s holdings in Extra Space Storage were worth $3,736,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. EdgeRock Capital LLC purchased a new stake in Extra Space Storage during the second quarter worth about $25,000. Centerpoint Advisors LLC purchased a new stake in Extra Space Storage during the 2nd quarter worth approximately $27,000. Blue Trust Inc. lifted its holdings in Extra Space Storage by 540.5% during the 2nd quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 200 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in Extra Space Storage by 2,760.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 276 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of Extra Space Storage by 19.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust’s stock worth $72,000 after acquiring an additional 76 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 24,190 shares in the company, valued at approximately $4,318,398.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the completion of the sale, the chief executive officer now directly owns 24,190 shares of the company’s stock, valued at $4,318,398.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gwyn Goodson Mcneal sold 2,823 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $177.01, for a total transaction of $499,699.23. Following the completion of the transaction, the executive vice president now directly owns 32,855 shares in the company, valued at $5,815,663.55. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,970 shares of company stock valued at $3,367,307. Insiders own 1.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on EXR shares. Raymond James lifted their target price on Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Truist Financial raised their target price on shares of Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a report on Friday, August 16th. Royal Bank of Canada began coverage on shares of Extra Space Storage in a report on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 price target for the company. Finally, Barclays raised their price objective on shares of Extra Space Storage from $158.00 to $188.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $170.80.

Extra Space Storage Price Performance

Shares of NYSE EXR opened at $166.40 on Monday. The stock has a market cap of $35.23 billion, a P/E ratio of 37.06, a P/E/G ratio of 6.25 and a beta of 0.86. Extra Space Storage Inc. has a twelve month low of $101.19 and a twelve month high of $184.87. The stock has a 50 day moving average of $174.56 and a two-hundred day moving average of $159.68. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.76.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend was Monday, September 16th. Extra Space Storage’s payout ratio is currently 144.32%.

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.