Swedbank AB Sells 56,422 Shares of Extra Space Storage Inc. (NYSE:EXR)

Swedbank AB reduced its holdings in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 23.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 186,708 shares of the real estate investment trust's stock after selling 56,422 shares during the period. Swedbank AB owned about 0.09% of Extra Space Storage worth $27,932,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Tidal Investments LLC increased its position in Extra Space Storage by 34.4% in the 3rd quarter. Tidal Investments LLC now owns 12,640 shares of the real estate investment trust's stock valued at $2,278,000 after acquiring an additional 3,234 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Extra Space Storage by 724.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust's stock valued at $357,100,000 after purchasing an additional 1,741,320 shares during the last quarter. Duff & Phelps Investment Management Co. increased its holdings in shares of Extra Space Storage by 9.5% in the third quarter. Duff & Phelps Investment Management Co. now owns 35,503 shares of the real estate investment trust's stock valued at $6,397,000 after purchasing an additional 3,093 shares in the last quarter. Brown Financial Advisors raised its position in Extra Space Storage by 69.1% in the 3rd quarter. Brown Financial Advisors now owns 9,134 shares of the real estate investment trust's stock worth $1,646,000 after purchasing an additional 3,731 shares during the last quarter. Finally, Donaldson Capital Management LLC lifted its holdings in Extra Space Storage by 59.2% during the 3rd quarter. Donaldson Capital Management LLC now owns 278,152 shares of the real estate investment trust's stock worth $50,120,000 after buying an additional 103,449 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Insider Activity at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the sale, the chief executive officer now directly owns 16,690 shares in the company, valued at $2,470,286.90. The trade was a 31.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Diane Olmstead sold 3,081 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $164.56, for a total value of $507,009.36. Following the transaction, the director now owns 5,877 shares of the company's stock, valued at approximately $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 currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EXR. Scotiabank raised Extra Space Storage from a "sector underperform" rating to a "sector perform" rating and set a $167.00 target price for the company in a research note on Friday, January 10th. StockNews.com raised Extra Space Storage from a "sell" rating to a "hold" rating in a report on Tuesday, January 28th. Wells Fargo & Company restated an "equal weight" rating and set a $175.00 target price on shares of Extra Space Storage in a research report on Monday, October 21st. Barclays lowered their price target on shares of Extra Space Storage from $192.00 to $184.00 and set an "overweight" rating for the company in a research report on Monday, January 13th. Finally, Truist Financial increased their price objective on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a "hold" rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $174.00.

Extra Space Storage Trading Down 0.8 %

Shares of Extra Space Storage stock traded down $1.18 during trading hours on Monday, hitting $152.82. The company's stock had a trading volume of 542,417 shares, compared to its average volume of 1,335,644. The company has a market capitalization of $32.40 billion, a PE ratio of 40.04, a price-to-earnings-growth ratio of 7.67 and a beta of 0.91. 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 50 day moving average of $154.80 and a 200 day moving average of $164.58. Extra Space Storage Inc. has a 12 month low of $131.02 and a 12 month high of $184.87.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.24%. The ex-dividend date was Monday, December 16th. Extra Space Storage's dividend payout ratio is 169.63%.

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.