Tobam Reduces Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Tobam lessened its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 7.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 957 shares of the real estate investment trust’s stock after selling 74 shares during the quarter. Tobam’s holdings in Extra Space Storage were worth $143,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of EXR. Ashton Thomas Securities LLC purchased a new stake in Extra Space Storage in the third quarter valued at $33,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Extra Space Storage during the third quarter worth about $42,000. Continuum Advisory LLC lifted its holdings in shares of Extra Space Storage by 68.1% in the 3rd quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 126 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Extra Space Storage in the 3rd quarter valued at about $129,000. Finally, Exchange Traded Concepts LLC grew its stake in Extra Space Storage by 13.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 861 shares of the real estate investment trust’s stock worth $129,000 after buying an additional 104 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Truist Financial boosted their price objective on Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Wells Fargo & Company reiterated an “equal weight” rating and set a $175.00 price target on shares of Extra Space Storage in a research note on Monday, October 21st. Barclays dropped their price objective on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Evercore ISI decreased their target price on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a research note on Monday, October 14th. Finally, Scotiabank raised Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price target on the stock in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $174.00.

Insider Buying and Selling at Extra Space Storage

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

Extra Space Storage Stock Performance

NYSE EXR opened at $156.01 on Friday. The stock has a market capitalization of $33.07 billion, a price-to-earnings ratio of 40.84, a PEG ratio of 7.67 and a beta of 0.91. The business’s 50 day moving average is $153.37 and its two-hundred day moving average is $164.27. Extra Space Storage Inc. has a 12-month low of $131.02 and a 12-month high of $184.87. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.15%. The ex-dividend date was Monday, December 16th. Extra Space Storage’s 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.