Harvest Fund Management Co. Ltd Purchases Shares of 234 Extra Space Storage Inc. (NYSE:EXR)

Harvest Fund Management Co. Ltd purchased a new stake in shares of Extra Space Storage Inc. (NYSE:EXR) in the 3rd quarter, Holdings Channel reports. The fund purchased 234 shares of the real estate investment trust’s stock, valued at approximately $42,000.

Other institutional investors have also recently made changes to their positions in the company. EdgeRock Capital LLC bought a new position in Extra Space Storage in the 2nd quarter worth $25,000. Centerpoint Advisors LLC bought a new position in shares of Extra Space Storage in the second quarter worth about $27,000. Ashton Thomas Securities LLC purchased a new position in shares of Extra Space Storage during the 3rd quarter valued at about $33,000. Blue Trust Inc. grew its stake in shares of 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 valued at $35,000 after acquiring an additional 200 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings 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 worth $44,000 after acquiring an additional 276 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EXR. 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 on the stock. Evercore ISI dropped their target price on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a report on Monday, October 14th. KeyCorp raised their price target on Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a report on Monday, September 9th. StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Finally, Truist Financial lifted their target price on Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a research note on Friday, August 16th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $171.36.

Insider Activity at Extra Space Storage

In related 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 sale, the director now directly owns 404,306 shares of the company’s stock, valued at approximately $71,655,152.38. This trade represents a 1.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Diane Olmstead sold 3,081 shares of Extra Space Storage stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $164.56, for a total transaction 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,228 shares of company stock valued at $3,023,957. Insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Performance

NYSE EXR opened at $172.68 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. Extra Space Storage Inc. has a 1-year low of $125.82 and a 1-year high of $184.87. The business has a 50 day simple moving average of $169.82 and a two-hundred day simple moving average of $164.15. The stock has a market capitalization of $36.60 billion, a PE ratio of 45.20, a P/E/G ratio of 8.58 and a beta of 0.87.

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

Extra Space Storage Announces Dividend

The firm 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 dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Monday, December 16th. Extra Space Storage’s dividend payout ratio is 169.63%.

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.