Paralel Advisors LLC Takes $777,000 Position in Extra Space Storage Inc. (NYSE:EXR)

Paralel Advisors LLC bought a new position in shares of Extra Space Storage Inc. (NYSE:EXR) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,000 shares of the real estate investment trust’s stock, valued at approximately $777,000.

Several other large investors have also recently bought and sold shares of EXR. EdgeRock Capital LLC bought a new position in shares of Extra Space Storage in the second quarter valued at $25,000. Creekmur Asset Management LLC acquired a new stake in Extra Space Storage in the 4th quarter valued at about $26,000. Centerpoint Advisors LLC bought a new position in Extra Space Storage during the second quarter worth about $27,000. Blue Trust Inc. grew its holdings in Extra Space Storage by 540.5% during the second quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 200 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its position in Extra Space Storage by 2,760.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 276 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EXR has been the subject of a number of recent analyst reports. Raymond James raised their price objective on Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Scotiabank upped their price objective 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. Wells Fargo & Company lifted their target price on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, Evercore ISI boosted their price objective on Extra Space Storage from $166.00 to $167.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Extra Space Storage has a consensus rating of “Hold” and an average price target of $166.58.

Insider Buying and Selling

In other news, 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 sale, the chief executive officer now owns 31,690 shares in the company, valued at approximately $4,835,260.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Monday, July 1st. The stock was 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 of the company’s stock, valued at $4,835,260.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP William N. Springer sold 2,000 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president now owns 11,919 shares in the company, valued at $2,089,758.27. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,323 shares of company stock worth $1,994,709. Insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Up 0.0 %

EXR traded up $0.02 during mid-day trading on Friday, reaching $173.58. 993,178 shares of the stock were exchanged, compared to its average volume of 1,040,437. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.20 and a current ratio of 0.20. The company has a 50 day moving average price of $165.41 and a two-hundred day moving average price of $152.21. Extra Space Storage Inc. has a 1 year low of $101.19 and a 1 year high of $179.23. The stock has a market capitalization of $36.75 billion, a PE ratio of 38.66, a price-to-earnings-growth ratio of 2.58 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. Investors of record on Monday, September 16th will be given 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 yield of 3.73%. Extra Space Storage’s payout ratio is currently 144.32%.

About Extra Space Storage

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.