Swedbank AB Acquires 10,408 Shares of Extra Space Storage Inc. (NYSE:EXR)

Swedbank AB lifted its stake in Extra Space Storage Inc. (NYSE:EXR) by 4.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 243,130 shares of the real estate investment trust’s stock after purchasing an additional 10,408 shares during the period. Swedbank AB owned 0.11% of Extra Space Storage worth $43,810,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. EdgeRock Capital LLC acquired a new position in shares of Extra Space Storage in the 2nd quarter valued at $25,000. Centerpoint Advisors LLC acquired a new stake in shares of Extra Space Storage during the second quarter worth $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of Extra Space Storage in the 3rd quarter valued at about $33,000. Blue Trust Inc. raised its position in Extra Space Storage by 540.5% in the 2nd quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 200 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in shares of Extra Space Storage by 2,760.0% in 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 purchasing an additional 276 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the completion of the sale, the chief executive officer now owns 24,190 shares in the company, valued at approximately $4,318,398.80. This trade represents a 23.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP William N. Springer sold 2,000 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 11,919 shares in the company, valued at approximately $2,089,758.27. The trade was a 14.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,228 shares of company stock valued at $3,374,617. 1.36% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on EXR shares. Barclays increased their price target on Extra Space Storage from $188.00 to $192.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Evercore ISI dropped their price target on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a research report on Monday, October 14th. Wells Fargo & Company reiterated an “equal weight” rating and set a $175.00 price objective on shares of Extra Space Storage in a research note on Monday, October 21st. KeyCorp raised their target price on Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Finally, Truist Financial lifted their price target on shares of Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a report on Friday, August 16th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Extra Space Storage has a consensus rating of “Hold” and an average target price of $171.50.

Extra Space Storage Stock Performance

Shares of Extra Space Storage stock opened at $168.14 on Monday. Extra Space Storage Inc. has a 1-year low of $125.32 and a 1-year 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. The business has a 50-day moving average price of $170.44 and a two-hundred day moving average price of $163.68. The company has a market cap of $35.64 billion, a P/E ratio of 44.02, a PEG ratio of 8.40 and a beta of 0.87.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results 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). Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company had revenue of $824.80 million during the quarter, compared to analyst estimates of $826.93 million. During the same quarter in the previous year, the business posted $2.02 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, analysts anticipate that Extra Space Storage Inc. will post 8.09 EPS for the current year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a dividend of $1.62 per share. The ex-dividend date is Monday, December 16th. This represents a $6.48 annualized dividend and a yield of 3.85%. Extra Space Storage’s payout ratio is 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.