Swedbank AB Acquires Shares of 230,691 Extra Space Storage Inc. (NYSE:EXR)

Swedbank AB acquired a new stake in shares of Extra Space Storage Inc. (NYSE:EXR) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 230,691 shares of the real estate investment trust’s stock, valued at approximately $33,912,000. Swedbank AB owned 0.11% of Extra Space Storage at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Extra Space Storage by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 33,686,389 shares of the real estate investment trust’s stock worth $4,951,899,000 after purchasing an additional 170,380 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Extra Space Storage by 8.9% in the 4th quarter. Principal Financial Group Inc. now owns 7,083,752 shares of the real estate investment trust’s stock worth $1,135,738,000 after purchasing an additional 577,918 shares during the last quarter. Norges Bank purchased a new position in shares of Extra Space Storage in the 4th quarter worth about $1,022,811,000. Massachusetts Financial Services Co. MA raised its position in shares of Extra Space Storage by 6.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,219,030 shares of the real estate investment trust’s stock worth $516,107,000 after purchasing an additional 186,940 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Extra Space Storage by 8.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,724,293 shares of the real estate investment trust’s stock worth $436,786,000 after purchasing an additional 211,395 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on EXR shares. Barclays boosted their target price on Extra Space Storage from $157.00 to $158.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Evercore ISI boosted their target price on Extra Space Storage from $140.00 to $151.00 and gave the stock an “in-line” rating in a research report on Monday, July 15th. Scotiabank boosted their target price on Extra Space Storage from $140.00 to $159.00 and gave the stock a “sector underperform” rating in a research report on Friday, July 19th. Citigroup decreased their target price on Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, June 7th. Finally, Raymond James boosted their target price on Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $157.67.

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $152.58, for a total value of $1,144,350.00. Following the transaction, the chief executive officer now directly owns 31,690 shares of the company’s stock, valued at approximately $4,835,260.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $152.58, for a total value of $1,144,350.00. Following the transaction, the chief executive officer now directly owns 31,690 shares of the company’s stock, valued at approximately $4,835,260.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph J. Bonner sold 677 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $148.22, for a total value of $100,344.94. Following the completion of the transaction, the director now directly owns 5,229 shares in the company, valued at $775,042.38. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by corporate insiders.

Extra Space Storage Trading Up 3.3 %

Shares of NYSE:EXR opened at $165.13 on Friday. The stock has a 50 day moving average of $156.05 and a 200 day moving average of $147.65. The company has a market cap of $34.96 billion, a PE ratio of 36.78, a price-to-earnings-growth ratio of 3.37 and a beta of 0.83. The company has a current ratio of 0.20, a quick ratio of 0.15 and a debt-to-equity ratio of 0.76. Extra Space Storage Inc. has a 12-month low of $101.19 and a 12-month high of $171.46.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.00 by ($1.12). The company had revenue of $810.66 million for the quarter, compared to the consensus estimate of $815.52 million. Extra Space Storage had a net margin of 25.82% and a return on equity of 5.43%. The company’s revenue was up 58.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.06 earnings per share. As a group, equities research analysts expect that Extra Space Storage Inc. will post 8.04 EPS for the current year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $1.62 per share. The ex-dividend date was Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.92%. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.32%.

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.