Handelsbanken Fonder AB Purchases 13,669 Shares of Extra Space Storage Inc. (NYSE:EXR)

Handelsbanken Fonder AB increased its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 18.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 89,450 shares of the real estate investment trust’s stock after acquiring an additional 13,669 shares during the period. Handelsbanken Fonder AB’s holdings in Extra Space Storage were worth $14,342,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Zions Bancorporation N.A. increased its holdings in Extra Space Storage by 241.9% during the 3rd quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 150 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Extra Space Storage by 162.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 143 shares during the period. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Extra Space Storage during the 3rd quarter worth approximately $32,000. Anchor Investment Management LLC bought a new stake in Extra Space Storage during the 4th quarter worth approximately $35,000. Finally, Riverview Trust Co bought a new stake in Extra Space Storage during the 3rd quarter worth approximately $38,000. Institutional investors own 99.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Barclays assumed coverage on shares of Extra Space Storage in a report on Wednesday, March 27th. They issued an “overweight” rating and a $157.00 price target on the stock. Raymond James reissued an “outperform” rating and issued a $160.00 price target on shares of Extra Space Storage in a report on Thursday, March 28th. Scotiabank assumed coverage on shares of Extra Space Storage in a report on Tuesday, February 13th. They issued a “sector underperform” rating and a $131.00 price target on the stock. Wells Fargo & Company increased their price target on shares of Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Extra Space Storage in a report on Tuesday, January 30th. They issued a “hold” rating and a $141.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Extra Space Storage currently has a consensus rating of “Hold” and a consensus price target of $150.17.

Extra Space Storage Trading Up 0.4 %

NYSE:EXR opened at $133.30 on Wednesday. The company has a 50-day moving average price of $142.28 and a 200-day moving average price of $138.03. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $164.99. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.71. The stock has a market cap of $28.21 billion, a price-to-earnings ratio of 26.98, a P/E/G ratio of 3.26 and a beta of 0.74.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 EPS for the quarter, missing the consensus estimate of $2.03 by ($1.01). Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. The company had revenue of $797.77 million during the quarter, compared to analysts’ expectations of $778.05 million. During the same period in the prior year, the business posted $2.09 earnings per share. The company’s revenue for the quarter was up 57.4% on a year-over-year basis. Equities analysts predict that Extra Space Storage Inc. will post 8.05 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $1.62 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.86%. Extra Space Storage’s payout ratio is 131.17%.

Insider Buying and Selling

In related news, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $146.46, for a total value of $299,950.08. Following the completion of the transaction, the chief marketing officer now directly owns 94,126 shares in the company, valued at approximately $13,785,693.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the sale, the executive vice president now directly owns 37,028 shares in the company, valued at approximately $5,369,060. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CMO Samrat Sondhi sold 2,048 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $146.46, for a total transaction of $299,950.08. Following the sale, the chief marketing officer now owns 94,126 shares of the company’s stock, valued at $13,785,693.96. The disclosure for this sale can be found here. Insiders sold a total of 3,532 shares of company stock worth $514,819 in the last three months. 1.36% of the stock is owned by corporate insiders.

Extra Space Storage Company 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.