Pathway Financial Advisers LLC Buys 2,007,626 Shares of Extra Space Storage Inc. (NYSE:EXR)

Pathway Financial Advisers LLC boosted its stake in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 17,832.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,018,884 shares of the real estate investment trust's stock after acquiring an additional 2,007,626 shares during the period. Extra Space Storage accounts for 3.6% of Pathway Financial Advisers LLC's portfolio, making the stock its 7th largest position. Pathway Financial Advisers LLC owned approximately 0.95% of Extra Space Storage worth $363,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of EXR. Boston Partners acquired a new position in Extra Space Storage during the first quarter worth about $130,554,000. Janus Henderson Group PLC grew its position in Extra Space Storage by 2,244.2% in the first quarter. Janus Henderson Group PLC now owns 597,729 shares of the real estate investment trust's stock worth $87,824,000 after acquiring an additional 572,231 shares in the last quarter. Canada Pension Plan Investment Board increased its position in Extra Space Storage by 43.7% during the first quarter. Canada Pension Plan Investment Board now owns 1,557,135 shares of the real estate investment trust's stock worth $228,899,000 after buying an additional 473,559 shares during the last quarter. American Century Companies Inc. raised its stake in shares of 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 valued at $61,724,000 after acquiring an additional 335,447 shares in the last quarter. Finally, Hamlin Capital Management LLC lifted its stake in shares of Extra Space Storage by 44.8% in the third quarter. Hamlin Capital Management LLC now owns 766,043 shares of the real estate investment trust's stock worth $138,033,000 after buying an additional 236,908 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on EXR shares. Raymond James upped their price target on Extra Space Storage from $160.00 to $175.00 and gave the company an "outperform" rating in a report on Tuesday, July 23rd. StockNews.com raised Extra Space Storage from a "sell" rating to a "hold" rating in a research note on Tuesday, July 23rd. Evercore ISI dropped 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 report on Monday, October 14th. Jefferies Financial Group raised Extra Space Storage from a "hold" rating to a "buy" rating and upped their price target for the stock from $162.00 to $204.00 in a research report on Wednesday, September 18th. Finally, Wells Fargo & Company reissued an "equal weight" rating and issued a $175.00 target price on shares of Extra Space Storage in a research note on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $171.07.

Extra Space Storage Stock Down 0.5 %

Shares of Extra Space Storage stock traded down $0.88 during trading on Wednesday, hitting $164.74. The company's stock had a trading volume of 1,525,073 shares, compared to its average volume of 1,038,933. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.20 and a current ratio of 0.20. The company has a fifty day simple moving average of $174.33 and a two-hundred day simple moving average of $160.18. Extra Space Storage Inc. has a 52 week low of $101.19 and a 52 week high of $184.87. The company has a market capitalization of $34.88 billion, a PE ratio of 36.69, a P/E/G ratio of 6.25 and a beta of 0.86.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders 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 dividend yield of 3.93%. The ex-dividend date was Monday, September 16th. Extra Space Storage's payout ratio is currently 144.32%.

Insider Activity

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the business's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $177.01, for a total transaction of $499,699.23. Following the completion of the sale, the executive vice president now directly owns 32,855 shares in the company, valued at $5,815,663.55. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Extra Space Storage news, EVP William N. Springer sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total transaction of $350,660.00. Following the sale, the executive vice president now directly owns 11,919 shares in the company, valued at $2,089,758.27. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Gwyn Goodson Mcneal sold 2,823 shares of the company's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $177.01, for a total transaction of $499,699.23. Following the transaction, the executive vice president now owns 32,855 shares in the company, valued at $5,815,663.55. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,970 shares of company stock valued at $3,367,307 in the last 90 days. 1.36% of the stock is currently owned by 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.