Swedbank AB Has $43.81 Million Holdings in Extra Space Storage Inc. (NYSE:EXR)

Swedbank AB increased its position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 4.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 owned about 0.11% of Extra Space Storage worth $43,810,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EXR. Pathway Financial Advisers LLC increased its position in shares of Extra Space Storage by 17,832.9% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust's stock worth $363,783,000 after purchasing an additional 2,007,626 shares during the last quarter. Boston Partners bought a new stake in shares of Extra Space Storage in the 1st quarter worth about $130,554,000. Janus Henderson Group PLC increased its position 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 during the last quarter. American Century Companies Inc. increased its position 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 worth $61,724,000 after purchasing an additional 335,447 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Extra Space Storage by 20.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,877,100 shares of the real estate investment trust's stock valued at $291,720,000 after buying an additional 319,965 shares during the period. Hedge funds and other institutional investors own 99.11% of the company's stock.

Insider Buying and Selling

In related news, Director Diane Olmstead sold 3,081 shares of the business's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $164.56, for a total value of $507,009.36. Following the sale, the director now directly owns 5,877 shares in the company, valued at $967,119.12. The trade was a 34.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer now owns 24,190 shares in the company, valued at $4,318,398.80. The trade was a 23.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,228 shares of company stock worth $3,374,617 in the last ninety days. 1.36% of the stock is currently owned by corporate insiders.

Extra Space Storage Price Performance

Shares of EXR stock traded up $2.24 during midday trading on Monday, reaching $170.38. 1,359,204 shares of the company were exchanged, compared to its average volume of 1,032,112. Extra Space Storage Inc. has a 12 month low of $125.82 and a 12 month high of $184.87. The company has a market cap of $36.12 billion, a P/E ratio of 44.60, a PEG ratio of 8.47 and a beta of 0.87. The company's 50 day moving average price is $170.30 and its two-hundred day moving average price is $163.85. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings results 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). 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 for the quarter, compared to the consensus estimate of $826.93 million. During the same quarter last year, the firm posted $2.02 earnings per share. The firm's quarterly revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts expect that Extra Space Storage Inc. will post 8.09 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a $1.62 dividend. The ex-dividend date is Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.80%. Extra Space Storage's payout ratio is currently 169.63%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Truist Financial lifted their price target on shares of Extra Space Storage from $152.00 to $167.00 and gave the company a "hold" rating in a report on Friday, August 16th. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $175.00 price target on shares of Extra Space Storage in a report on Monday, October 21st. StockNews.com lowered shares of Extra Space Storage from a "hold" rating to a "sell" rating in a report on Thursday, October 31st. Scotiabank decreased their price target on shares of Extra Space Storage from $169.00 to $167.00 and set a "sector underperform" rating for the company in a report on Monday. Finally, Bank of America lowered shares of Extra Space Storage from a "neutral" rating to an "underperform" rating and decreased their price target for the company from $172.00 to $155.00 in a report on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Extra Space Storage currently has an average rating of "Hold" and an average price target of $171.36.

About Extra Space Storage

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.