Extra Space Storage Inc. (NYSE:EXR) Shares Acquired by Pathstone Holdings LLC

Pathstone Holdings LLC lifted its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,027 shares of the real estate investment trust’s stock after buying an additional 148 shares during the period. Pathstone Holdings LLC’s holdings in Extra Space Storage were worth $2,347,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Janus Henderson Group PLC raised its position in shares of Extra Space Storage by 2,244.2% during the 1st quarter. Janus Henderson Group PLC now owns 597,729 shares of the real estate investment trust’s stock worth $87,824,000 after purchasing an additional 572,231 shares during the period. California State Teachers Retirement System lifted its stake in Extra Space Storage by 1.3% in the first quarter. California State Teachers Retirement System now owns 342,652 shares of the real estate investment trust’s stock valued at $50,370,000 after buying an additional 4,396 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of Extra Space Storage by 262.5% during the first quarter. Tidal Investments LLC now owns 12,967 shares of the real estate investment trust’s stock valued at $1,906,000 after acquiring an additional 9,390 shares during the period. Beacon Capital Management LLC boosted its holdings in shares of Extra Space Storage by 69.3% during the first quarter. Beacon Capital Management LLC now owns 828 shares of the real estate investment trust’s stock valued at $122,000 after acquiring an additional 339 shares during the period. Finally, Plato Investment Management Ltd grew its position in shares of Extra Space Storage by 110.3% during the first quarter. Plato Investment Management Ltd now owns 1,182 shares of the real estate investment trust’s stock worth $174,000 after acquiring an additional 620 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Price Performance

NYSE EXR opened at $170.38 on Tuesday. Extra Space Storage Inc. has a 1 year low of $125.82 and a 1 year high of $184.87. The business’s fifty day moving average is $170.30 and its two-hundred day moving average is $163.85. The stock has a market capitalization of $36.12 billion, a P/E ratio of 44.60, a P/E/G ratio of 8.47 and a beta of 0.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company had revenue of $824.80 million for the quarter, compared to analyst estimates of $826.93 million. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the firm earned $2.02 earnings per share. On average, research analysts forecast that Extra Space Storage Inc. will post 8.09 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.80%. The ex-dividend date is Monday, December 16th. Extra Space Storage’s dividend payout ratio (DPR) is currently 169.63%.

Analyst Ratings Changes

EXR has been the topic of several recent research reports. Scotiabank cut their price objective on shares of Extra Space Storage from $169.00 to $167.00 and set a “sector underperform” rating on the stock in a research report on Monday. Bank of America downgraded Extra Space Storage from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $172.00 to $155.00 in a research report on Monday, August 5th. Truist Financial raised their target price on Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Barclays boosted their price target on Extra Space Storage from $188.00 to $192.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Finally, Jefferies Financial Group raised Extra Space Storage from a “hold” rating to a “buy” rating and raised their price target for the company from $162.00 to $204.00 in a report on Wednesday, September 18th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Extra Space Storage presently has an average rating of “Hold” and an average target price of $171.36.

Insider Activity at Extra Space Storage

In related news, EVP William N. Springer sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total transaction of $350,660.00. Following the transaction, the executive vice president now directly owns 11,919 shares of the company’s stock, valued at approximately $2,089,758.27. The trade was a 14.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Diane Olmstead sold 3,081 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $164.56, for a total value of $507,009.36. Following the sale, the director now owns 5,877 shares of the company’s stock, valued at $967,119.12. The trade was a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,228 shares of company stock worth $3,374,617. 1.36% of the stock is owned by corporate insiders.

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.