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% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 243,130 shares of the real estate investment trust’s stock after buying an additional 10,408 shares during the period. Swedbank AB’s holdings in Extra Space Storage were worth $43,810,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Pathway Financial Advisers LLC raised its position in Extra Space Storage by 17,832.9% during the 3rd 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 purchasing an additional 2,007,626 shares during the last quarter. Boston Partners purchased a new stake in shares of Extra Space Storage during the first quarter valued at approximately $130,554,000. Janus Henderson Group PLC increased its holdings in shares of Extra Space Storage by 2,244.2% in the 1st 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 in the last quarter. American Century Companies Inc. increased its holdings in 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 worth $61,724,000 after buying an additional 335,447 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in shares of Extra Space Storage by 20.5% in the second quarter. Canada Pension Plan Investment Board now owns 1,877,100 shares of the real estate investment trust’s stock worth $291,720,000 after acquiring an additional 319,965 shares during the period. 99.11% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Extra Space Storage news, EVP William N. Springer sold 2,000 shares of the company’s stock in a transaction dated 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. This represents a 14.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Diane Olmstead sold 3,081 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $164.56, for a total value of $507,009.36. Following the completion of the transaction, the director now directly owns 5,877 shares of the company’s stock, valued at $967,119.12. The trade was a 34.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,228 shares of company stock worth $3,374,617 over the last 90 days. Company insiders own 1.36% of the company’s stock.

Analyst Upgrades and Downgrades

EXR has been the subject of a number of research reports. Royal Bank of Canada initiated coverage on Extra Space Storage in a research report on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 price objective for the company. KeyCorp lifted their price objective on Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Evercore ISI lowered 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. Bank of America downgraded Extra Space Storage from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $172.00 to $155.00 in a research note on Monday, August 5th. Finally, StockNews.com downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $171.50.

Extra Space Storage Stock Up 0.8 %

Shares of NYSE:EXR opened at $168.14 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The business has a 50 day simple moving average of $170.44 and a two-hundred day simple moving average of $163.68. Extra Space Storage Inc. has a 1 year low of $125.32 and a 1 year high of $184.87. The firm has a market capitalization of $35.64 billion, a PE ratio of 44.02, a price-to-earnings-growth 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 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 company had revenue of $824.80 million during the quarter, compared to analysts’ expectations of $826.93 million. During the same period in the prior year, the business earned $2.02 EPS. The company’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities analysts predict that Extra Space Storage Inc. will post 8.09 EPS for the current year.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $1.62 dividend. The ex-dividend date is Monday, December 16th. This represents a $6.48 annualized dividend and a dividend yield of 3.85%. Extra Space Storage’s payout ratio is presently 169.63%.

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.