Freedom Investment Management Inc. Sells 151 Shares of Extra Space Storage Inc. (NYSE:EXR)

Freedom Investment Management Inc. decreased its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 11.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,206 shares of the real estate investment trust’s stock after selling 151 shares during the period. Freedom Investment Management Inc.’s holdings in Extra Space Storage were worth $217,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Pathway Financial Advisers LLC lifted its position in Extra Space Storage by 17,832.9% during the third quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust’s stock worth $363,783,000 after acquiring an additional 2,007,626 shares during the last quarter. American Century Companies Inc. boosted its stake in Extra Space Storage by 543.5% in the 2nd quarter. American Century Companies Inc. now owns 397,170 shares of the real estate investment trust’s stock valued at $61,724,000 after purchasing an additional 335,447 shares during the period. Canada Pension Plan Investment Board boosted its stake in Extra Space Storage by 20.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,877,100 shares of the real estate investment trust’s stock valued at $291,720,000 after purchasing an additional 319,965 shares during the period. Mizuho Securities USA LLC grew its holdings in Extra Space Storage by 1,664.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 288,094 shares of the real estate investment trust’s stock valued at $51,912,000 after buying an additional 271,765 shares in the last quarter. Finally, Hamlin Capital Management LLC increased its position in Extra Space Storage by 44.8% during the 3rd quarter. Hamlin Capital Management LLC now owns 766,043 shares of the real estate investment trust’s stock worth $138,033,000 after buying an additional 236,908 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Stock Performance

Shares of Extra Space Storage stock opened at $170.96 on Monday. The company’s 50 day moving average price is $169.64 and its two-hundred day moving average price is $164.51. The firm has a market capitalization of $36.24 billion, a P/E ratio of 44.75, a P/E/G ratio of 8.61 and a beta of 0.87. Extra Space Storage Inc. has a fifty-two week low of $129.23 and a fifty-two week high of $184.87. 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 (NYSE:EXR) last issued its quarterly earnings data 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 firm had revenue of $824.80 million for the quarter, compared to the consensus estimate of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.02 EPS. On average, equities 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 firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a yield of 3.79%. Extra Space Storage’s dividend payout ratio (DPR) is presently 169.63%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on EXR shares. Royal Bank of Canada began coverage on shares of Extra Space Storage in a research note on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 price target on the stock. 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 report on Friday, August 16th. Scotiabank cut their price target on Extra Space Storage from $169.00 to $167.00 and set a “sector underperform” rating for the company in a research note on Monday, November 25th. StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group upgraded Extra Space Storage from a “hold” rating to a “buy” rating and upped their target price for the company from $162.00 to $204.00 in a research report on Wednesday, September 18th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued 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 $171.36.

Insider Buying and Selling

In related news, Director Kenneth M. Woolley sold 6,647 shares of the firm’s stock in a transaction 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 directly owns 404,306 shares of the company’s stock, valued at $71,655,152.38. This trade represents a 1.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Diane Olmstead sold 3,081 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $164.56, for a total value of $507,009.36. Following the completion of the sale, the director now owns 5,877 shares in the company, valued at $967,119.12. This trade represents a 34.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,228 shares of company stock worth $3,023,957 in the last ninety days. Company insiders own 1.36% of the company’s stock.

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.