Harbor Capital Advisors Inc. Buys 596 Shares of Extra Space Storage Inc. (NYSE:EXR)

Harbor Capital Advisors Inc. raised its stake in Extra Space Storage Inc. (NYSE:EXR) by 10.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 6,227 shares of the real estate investment trust’s stock after acquiring an additional 596 shares during the period. Harbor Capital Advisors Inc.’s holdings in Extra Space Storage were worth $932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Hawaiian Bank raised its stake in shares of Extra Space Storage by 25.1% in the fourth quarter. First Hawaiian Bank now owns 2,022 shares of the real estate investment trust’s stock valued at $302,000 after purchasing an additional 406 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Extra Space Storage by 7.0% in the 4th quarter. Nordea Investment Management AB now owns 16,577 shares of the real estate investment trust’s stock valued at $2,465,000 after buying an additional 1,085 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Extra Space Storage by 6.9% during the 4th quarter. GAMMA Investing LLC now owns 2,927 shares of the real estate investment trust’s stock worth $438,000 after acquiring an additional 189 shares during the period. SMART Wealth LLC boosted its position in shares of Extra Space Storage by 21.4% during the 3rd quarter. SMART Wealth LLC now owns 4,945 shares of the real estate investment trust’s stock valued at $891,000 after acquiring an additional 871 shares in the last quarter. Finally, Copley Financial Group Inc. bought a new stake in Extra Space Storage in the third quarter valued at about $659,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Diane Olmstead sold 3,081 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $164.56, for a total value of $507,009.36. Following the transaction, the director now owns 5,877 shares of the company’s stock, valued at $967,119.12. This represents a 34.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the sale, the chief executive officer now directly owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Jefferies Financial Group upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and raised their price target for the stock from $162.00 to $204.00 in a research note on Wednesday, September 18th. Wells Fargo & Company restated an “equal weight” rating and set a $175.00 target price on shares of Extra Space Storage in a research report on Monday, October 21st. StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Evercore ISI cut their price objective on 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. Finally, Barclays lowered their target price on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $171.25.

Extra Space Storage Trading Up 0.5 %

Shares of NYSE EXR opened at $147.50 on Tuesday. Extra Space Storage Inc. has a 1-year low of $131.02 and a 1-year high of $184.87. The company has a 50-day moving average of $158.46 and a two-hundred day moving average of $165.08. The company has a market cap of $31.27 billion, a PE ratio of 38.61, a P/E/G ratio of 7.96 and a beta of 0.91. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($1.12). The company had revenue of $824.80 million during 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 business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.02 EPS. As a group, equities analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend was 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.