Extra Space Storage Inc. (NYSE:EXR) Position Lessened by Larson Financial Group LLC

Larson Financial Group LLC decreased its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 19.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 910 shares of the real estate investment trust’s stock after selling 218 shares during the period. Larson Financial Group LLC’s holdings in Extra Space Storage were worth $164,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Pathway Financial Advisers LLC lifted its holdings in shares of Extra Space Storage by 17,832.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust’s stock valued at $363,783,000 after buying an additional 2,007,626 shares during the last quarter. Boston Partners acquired a new stake in Extra Space Storage in the first quarter valued at approximately $130,554,000. American Century Companies Inc. lifted its stake in Extra Space Storage by 543.5% in the second quarter. American Century Companies Inc. now owns 397,170 shares of the real estate investment trust’s stock valued at $61,724,000 after acquiring an additional 335,447 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in Extra Space Storage by 20.5% in the second 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 acquiring an additional 319,965 shares during the last quarter. Finally, Mizuho Securities USA LLC lifted its stake in Extra Space Storage by 1,664.3% in the third quarter. Mizuho Securities USA LLC now owns 288,094 shares of the real estate investment trust’s stock valued at $51,912,000 after acquiring an additional 271,765 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Activity

In related news, Director Diane Olmstead sold 3,081 shares of the 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the completion of the transaction, the chief executive officer now directly owns 24,190 shares of the company’s stock, valued at $4,318,398.80. This trade represents a 23.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, 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 Up 0.6 %

Shares of EXR opened at $172.68 on Friday. The company has a 50-day simple moving average of $169.82 and a 200-day simple moving average of $164.15. The firm has a market capitalization of $36.60 billion, a P/E ratio of 45.20, a P/E/G ratio of 8.58 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 Inc. has a 52 week low of $125.82 and a 52 week high of $184.87.

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

Extra Space Storage Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend is Monday, December 16th. Extra Space Storage’s dividend payout ratio is currently 169.63%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EXR. Evercore ISI decreased their price objective 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. Jefferies Financial Group upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and upped their price objective for the stock from $162.00 to $204.00 in a report on Wednesday, September 18th. KeyCorp upped their price objective on shares of Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Royal Bank of Canada began coverage on shares of Extra Space Storage in a report on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 price objective for the company. Finally, StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Three research 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, Extra Space Storage presently has a consensus rating of “Hold” and a consensus target price of $171.36.

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.