Extra Space Storage Inc. (NYSE:EXR) Shares Purchased by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 45.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,040 shares of the real estate investment trust’s stock after buying an additional 2,497 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Extra Space Storage were worth $1,182,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Whittier Trust Co. raised its position in shares of Extra Space Storage by 4.5% during the fourth quarter. Whittier Trust Co. now owns 1,656 shares of the real estate investment trust’s stock worth $266,000 after purchasing an additional 72 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its holdings in Extra Space Storage by 19.1% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 706 shares of the real estate investment trust’s stock worth $113,000 after buying an additional 113 shares during the period. Parkside Financial Bank & Trust lifted its stake in Extra Space Storage by 30.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 515 shares of the real estate investment trust’s stock valued at $83,000 after buying an additional 119 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of Extra Space Storage by 0.6% in the fourth quarter. Private Advisor Group LLC now owns 21,563 shares of the real estate investment trust’s stock worth $3,457,000 after buying an additional 119 shares during the period. Finally, Spire Wealth Management increased its position in shares of Extra Space Storage by 7.4% in the first quarter. Spire Wealth Management now owns 1,840 shares of the real estate investment trust’s stock worth $271,000 after acquiring an additional 126 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Insider Activity

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

Extra Space Storage Stock Down 0.3 %

Shares of NYSE EXR traded down $0.41 during trading hours on Wednesday, hitting $153.12. The stock had a trading volume of 71,767 shares, compared to its average volume of 1,089,691. The company has a market capitalization of $32.42 billion, a P/E ratio of 34.22, a P/E/G ratio of 3.26 and a beta of 0.83. The firm’s 50-day moving average price is $149.81 and its two-hundred day moving average price is $146.88. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.15. Extra Space Storage Inc. has a 52 week low of $101.19 and a 52 week high of $164.99.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.23%. Extra Space Storage’s dividend payout ratio (DPR) is 144.32%.

Wall Street Analyst Weigh In

EXR has been the subject of several research analyst reports. Raymond James restated an “outperform” rating and issued a $160.00 price target on shares of Extra Space Storage in a research report on Thursday, March 28th. Wells Fargo & Company raised their target price on Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Barclays lifted their price target on Extra Space Storage from $157.00 to $158.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Evercore ISI reduced their price objective on Extra Space Storage from $145.00 to $139.00 in a research note on Wednesday, May 1st. Finally, Citigroup decreased their price objective 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. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $151.83.

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.