Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. decreased its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 5.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,828 shares of the real estate investment trust’s stock after selling 152 shares during the quarter. Foster & Motley Inc.’s holdings in Extra Space Storage were worth $510,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC increased its holdings in shares of Extra Space Storage by 17,832.9% in the third 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 in the last quarter. Boston Partners acquired a new position in shares of Extra Space Storage in the 1st quarter worth $130,554,000. Janus Henderson Group PLC raised its position in shares of Extra Space Storage by 2,244.2% during the first quarter. Janus Henderson Group PLC now owns 597,729 shares of the real estate investment trust’s stock worth $87,824,000 after purchasing an additional 572,231 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of Extra Space Storage by 43.7% during the first quarter. Canada Pension Plan Investment Board now owns 1,557,135 shares of the real estate investment trust’s stock valued at $228,899,000 after purchasing an additional 473,559 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Extra Space Storage by 543.5% in the 2nd quarter. American Century Companies Inc. now owns 397,170 shares of the real estate investment trust’s stock valued at $61,724,000 after purchasing an additional 335,447 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Extra Space Storage

In related news, EVP William N. Springer sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was 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 approximately $2,089,758.27. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP William N. Springer sold 2,000 shares of the firm’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 transaction, the executive vice president now directly owns 11,919 shares in the company, valued at approximately $2,089,758.27. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Gwyn Goodson Mcneal sold 2,823 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $177.01, for a total transaction of $499,699.23. Following the transaction, the executive vice president now directly owns 32,855 shares of the company’s stock, valued at approximately $5,815,663.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,970 shares of company stock worth $3,367,307. 1.36% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Barclays boosted their price objective on Extra Space Storage from $188.00 to $192.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Truist Financial raised their price objective on shares of Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Evercore ISI cut their target price 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. Scotiabank increased their target price on Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a report on Thursday, August 22nd. Finally, KeyCorp lifted their price target on Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Extra Space Storage has a consensus rating of “Hold” and an average target price of $171.07.

Extra Space Storage Stock Up 1.9 %

Shares of Extra Space Storage stock opened at $164.14 on Friday. The stock has a 50-day simple moving average of $172.80 and a 200-day simple moving average of $161.19. Extra Space Storage Inc. has a 52-week low of $114.35 and a 52-week high of $184.87. The firm has a market cap of $34.79 billion, a price-to-earnings ratio of 42.97, a P/E/G ratio of 6.15 and a beta of 0.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.20.

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). Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business had revenue of $824.80 million during the quarter, compared to the consensus estimate of $826.93 million. During the same period in the prior year, the firm earned $2.02 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. On average, equities research analysts expect that Extra Space Storage Inc. will post 8.08 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $6.48 annualized dividend and a yield of 3.95%. Extra Space Storage’s dividend payout ratio (DPR) 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.