Forsta AP Fonden Purchases 400 Shares of Extra Space Storage Inc. (NYSE:EXR)

Forsta AP Fonden boosted its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,700 shares of the real estate investment trust’s stock after buying an additional 400 shares during the period. Forsta AP Fonden’s holdings in Extra Space Storage were worth $6,388,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Creative Planning raised its position in shares of Extra Space Storage by 1.1% in the 2nd quarter. Creative Planning now owns 27,855 shares of the real estate investment trust’s stock valued at $4,329,000 after purchasing an additional 292 shares during the last quarter. Sunbelt Securities Inc. grew its position in Extra Space Storage by 441.2% during the 2nd quarter. Sunbelt Securities Inc. now owns 617 shares of the real estate investment trust’s stock worth $96,000 after purchasing an additional 503 shares during the period. Truist Financial Corp raised its position in Extra Space Storage by 15.6% during the second quarter. Truist Financial Corp now owns 34,371 shares of the real estate investment trust’s stock valued at $5,342,000 after acquiring an additional 4,641 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Extra Space Storage by 0.4% during the second quarter. Cetera Investment Advisers now owns 45,643 shares of the real estate investment trust’s stock worth $7,093,000 after buying an additional 193 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in Extra Space Storage during the second quarter valued at $2,631,000. Institutional investors own 99.11% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company restated an “equal weight” rating and issued a $175.00 price target on shares of Extra Space Storage in a research report on Monday, October 21st. Truist Financial increased their target price on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Evercore ISI cut their price objective on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a report on Monday, October 14th. Scotiabank raised Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective on the stock in a research report on Friday, January 10th. Finally, StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $174.00.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $153.98 on Friday. The business has a 50 day simple moving average of $155.09 and a 200-day simple moving average of $164.66. Extra Space Storage Inc. has a 12 month low of $131.02 and a 12 month high of $184.87. 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 stock has a market capitalization of $32.64 billion, a PE ratio of 40.31, a price-to-earnings-growth ratio of 7.62 and a beta of 0.91.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). The firm had revenue of $824.80 million for the quarter, compared to analysts’ expectations of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.02 EPS. Equities analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a $1.62 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a yield of 4.21%. Extra Space Storage’s payout ratio is currently 169.63%.

Insider Buying and Selling at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the sale, the chief executive officer now owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. The trade was a 31.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 transaction of $507,009.36. Following the transaction, the director now owns 5,877 shares in the company, valued at $967,119.12. The trade was a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is owned by corporate insiders.

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.