Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Swedbank AB

Swedbank AB lowered its stake in Extra Space Storage Inc. (NYSE:EXR) by 23.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 186,708 shares of the real estate investment trust’s stock after selling 56,422 shares during the quarter. Swedbank AB’s holdings in Extra Space Storage were worth $27,932,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of EXR. Graypoint LLC grew its position in Extra Space Storage by 4.3% in the third quarter. Graypoint LLC now owns 1,575 shares of the real estate investment trust’s stock valued at $284,000 after acquiring an additional 65 shares in the last quarter. Wedge Capital Management L L P NC grew its holdings in Extra Space Storage by 1.3% during the 4th quarter. Wedge Capital Management L L P NC now owns 5,138 shares of the real estate investment trust’s stock valued at $769,000 after purchasing an additional 68 shares in the last quarter. Hummer Financial Advisory Services Inc increased its stake in Extra Space Storage by 1.2% during the 3rd quarter. Hummer Financial Advisory Services Inc now owns 5,920 shares of the real estate investment trust’s stock worth $1,067,000 after buying an additional 70 shares during the period. Buckley Wealth Management LLC lifted its holdings in Extra Space Storage by 1.9% in the 3rd quarter. Buckley Wealth Management LLC now owns 3,811 shares of the real estate investment trust’s stock worth $687,000 after buying an additional 71 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its position in Extra Space Storage by 4.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 1,973 shares of the real estate investment trust’s stock valued at $356,000 after buying an additional 77 shares during the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction that occurred on 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 directly owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. This represents a 31.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Diane Olmstead sold 3,081 shares of the firm’s 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 transaction, the director now directly owns 5,877 shares of the company’s stock, valued at $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 company insiders.

Analysts Set New Price Targets

EXR has been the topic of several recent analyst reports. StockNews.com upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday. Truist Financial lifted their price target on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Evercore ISI reduced their price objective on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a research note on Monday, October 14th. Wells Fargo & Company restated an “equal weight” rating and issued a $175.00 target price on shares of Extra Space Storage in a research note on Monday, October 21st. Finally, Barclays decreased their price target on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $174.00.

Extra Space Storage Stock Performance

Shares of EXR opened at $154.63 on Friday. 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 1 year low of $131.02 and a 1 year high of $184.87. The firm has a fifty day moving average of $155.34 and a 200-day moving average of $164.73. The company has a market cap of $32.78 billion, a price-to-earnings ratio of 40.48, a price-to-earnings-growth ratio of 7.48 and a beta of 0.91.

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

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.19%. The ex-dividend date was Monday, December 16th. Extra Space Storage’s dividend payout ratio is currently 169.63%.

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.