Forsta AP Fonden Increases Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Forsta AP Fonden lifted its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 9.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,300 shares of the real estate investment trust’s stock after purchasing an additional 3,500 shares during the period. Forsta AP Fonden’s holdings in Extra Space Storage were worth $7,622,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its position in Extra Space Storage by 18.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,052 shares of the real estate investment trust’s stock worth $5,858,000 after buying an additional 5,199 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Extra Space Storage by 34.8% during the third quarter. Assenagon Asset Management S.A. now owns 3,985 shares of the real estate investment trust’s stock valued at $718,000 after acquiring an additional 1,028 shares during the last quarter. CENTRAL TRUST Co increased its position in Extra Space Storage by 64.3% during the 3rd quarter. CENTRAL TRUST Co now owns 930 shares of the real estate investment trust’s stock worth $168,000 after purchasing an additional 364 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Extra Space Storage during the 3rd quarter worth about $30,293,000. Finally, Fulcrum Capital LLC acquired a new position in Extra Space Storage in the 3rd quarter valued at about $268,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on EXR shares. StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. Bank of America cut shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $172.00 to $155.00 in a research note on Monday, August 5th. Wells Fargo & Company reissued 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 lifted their price objective on Extra Space Storage from $158.00 to $188.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Finally, Scotiabank upped their target price on Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Extra Space Storage currently has an average rating of “Hold” and a consensus target price of $170.80.

Insiders Place Their Bets

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total value of $1,338,900.00. Following the transaction, the chief executive officer now owns 24,190 shares of the company’s stock, valued at approximately $4,318,398.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $177.01, for a total value of $499,699.23. Following the completion of the transaction, the executive vice president now owns 32,855 shares in the company, valued at $5,815,663.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on 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 directly owns 24,190 shares of the company’s stock, valued at $4,318,398.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,970 shares of company stock worth $3,367,307 over the last ninety days. 1.36% of the stock is owned by company insiders.

Extra Space Storage Stock Performance

NYSE EXR opened at $166.40 on Monday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.20 and a quick ratio of 0.20. Extra Space Storage Inc. has a 1-year low of $101.19 and a 1-year high of $184.87. The firm has a market capitalization of $35.23 billion, a P/E ratio of 37.06, a P/E/G ratio of 6.25 and a beta of 0.86. The business’s 50-day simple moving average is $174.56 and its 200-day simple moving average is $159.68.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $6.48 dividend on an annualized basis and a yield of 3.89%. Extra Space Storage’s dividend payout ratio (DPR) is 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.