Forsta AP Fonden Has $6.03 Million Holdings in Extra Space Storage Inc. (NYSE:EXR)

Forsta AP Fonden reduced its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 9.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,800 shares of the real estate investment trust’s stock after selling 4,000 shares during the quarter. Forsta AP Fonden’s holdings in Extra Space Storage were worth $6,030,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new position in Extra Space Storage during the 4th quarter valued at $3,304,000. State of Tennessee Treasury Department increased its holdings in Extra Space Storage by 252.1% in the 4th quarter. State of Tennessee Treasury Department now owns 114,819 shares of the real estate investment trust’s stock valued at $18,409,000 after buying an additional 82,207 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Extra Space Storage by 19.3% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 247,203 shares of the real estate investment trust’s stock valued at $36,307,000 after buying an additional 40,055 shares during the period. Norden Group LLC bought a new stake in Extra Space Storage in the 1st quarter valued at $1,947,000. Finally, Gateway Investment Advisers LLC bought a new stake in Extra Space Storage in the 2nd quarter valued at $16,026,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP William N. Springer sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total transaction of $350,660.00. Following the sale, the executive vice president now directly owns 11,919 shares of the company’s stock, valued at $2,089,758.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Extra Space Storage news, EVP William N. Springer sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total value of $350,660.00. Following the transaction, the executive vice president now directly owns 11,919 shares of the company’s stock, valued at $2,089,758.27. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the completion of the transaction, the chief executive officer now directly owns 31,690 shares in the company, valued at $4,835,260.20. The disclosure for this sale can be found here. Insiders have sold 12,323 shares of company stock valued at $1,994,709 over the last three months. 1.36% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wells Fargo & Company boosted their price target on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, July 26th. KeyCorp boosted their price target on shares of Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Scotiabank boosted their price target on shares of Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a report on Thursday, August 22nd. Citigroup lowered their price target on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, June 7th. Finally, Raymond James lifted their price target on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $168.36.

Extra Space Storage Price Performance

EXR opened at $177.90 on Friday. Extra Space Storage Inc. has a one year low of $101.19 and a one year high of $179.23. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.20 and a quick ratio of 0.20. The company’s 50 day simple moving average is $167.71 and its 200-day simple moving average is $153.47. The stock has a market capitalization of $37.70 billion, a P/E ratio of 39.62, a price-to-earnings-growth ratio of 2.56 and a beta of 0.86.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $6.48 annualized dividend and a dividend yield of 3.64%. Extra Space Storage’s dividend payout ratio (DPR) is currently 144.32%.

Extra Space Storage 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.