Extra Space Storage Inc. (NYSE:EXR) Stake Increased by Hummer Financial Advisory Services Inc

Hummer Financial Advisory Services Inc grew its holdings in Extra Space Storage Inc. (NYSE:EXR) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,920 shares of the real estate investment trust’s stock after purchasing an additional 70 shares during the quarter. Extra Space Storage comprises 0.8% of Hummer Financial Advisory Services Inc’s portfolio, making the stock its 26th biggest holding. Hummer Financial Advisory Services Inc’s holdings in Extra Space Storage were worth $1,067,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Extra Space Storage by 19.3% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 247,203 shares of the real estate investment trust’s stock valued at $36,307,000 after purchasing an additional 40,055 shares during the last quarter. Norden Group LLC acquired a new stake in shares of Extra Space Storage in the first quarter valued at about $1,947,000. Gateway Investment Advisers LLC acquired a new stake in shares of Extra Space Storage in the second quarter valued at about $16,026,000. Centersquare Investment Management LLC grew its position in Extra Space Storage by 1.3% during the first quarter. Centersquare Investment Management LLC now owns 2,546,475 shares of the real estate investment trust’s stock worth $341,941,000 after buying an additional 32,591 shares in the last quarter. Finally, MADDEN SECURITIES Corp acquired a new stake in Extra Space Storage during the second quarter worth about $1,002,000. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Trading Up 0.7 %

EXR traded up $1.28 during trading on Wednesday, reaching $172.41. 83,274 shares of the company’s stock were exchanged, compared to its average volume of 1,041,931. The company’s fifty day moving average price is $173.99 and its 200-day moving average price is $158.56. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.20 and a current ratio of 0.20. Extra Space Storage Inc. has a fifty-two week low of $101.19 and a fifty-two week high of $184.87. The firm has a market capitalization of $36.50 billion, a PE ratio of 38.11, a P/E/G ratio of 6.47 and a beta of 0.86.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date was Monday, September 16th. Extra Space Storage’s dividend payout ratio is presently 144.32%.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction 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 owns 24,190 shares of the company’s stock, valued at approximately $4,318,398.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Kenneth M. Woolley sold 6,647 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $177.23, for a total value of $1,178,047.81. Following the completion of the transaction, the director now owns 404,306 shares of the company’s stock, valued at $71,655,152.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the completion of the transaction, the chief executive officer now directly owns 24,190 shares of the company’s stock, valued at approximately $4,318,398.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,970 shares of company stock valued at $3,367,307. Company insiders own 1.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Truist Financial lifted their target price on Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Wells Fargo & Company lifted their price objective on Extra Space Storage from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Scotiabank lifted their price objective on Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a report on Thursday, August 22nd. Royal Bank of Canada assumed coverage on Extra Space Storage in a report on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 price objective on the stock. Finally, StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $170.80.

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.