Inspire Investing LLC Has $3.34 Million Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Inspire Investing LLC trimmed its position in Extra Space Storage Inc. (NYSE:EXR) by 17.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,514 shares of the real estate investment trust’s stock after selling 4,668 shares during the quarter. Inspire Investing LLC’s holdings in Extra Space Storage were worth $3,344,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in EXR. XTX Topco Ltd acquired a new stake in shares of Extra Space Storage during the 2nd quarter worth about $1,536,000. Blair William & Co. IL bought a new position in Extra Space Storage in the 2nd quarter valued at about $221,000. Elo Mutual Pension Insurance Co lifted its position in Extra Space Storage by 7.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 20,720 shares of the real estate investment trust’s stock worth $3,220,000 after acquiring an additional 1,447 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Extra Space Storage by 16.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 16,844 shares of the real estate investment trust’s stock worth $2,396,000 after acquiring an additional 2,438 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its position in shares of Extra Space Storage by 8.1% in the second quarter. Mercer Global Advisors Inc. ADV now owns 3,599 shares of the real estate investment trust’s stock valued at $568,000 after purchasing an additional 270 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the completion of the transaction, the chief executive officer now owns 31,690 shares in the company, valued at approximately $4,835,260.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $152.58, for a total value of $1,144,350.00. Following the completion of the sale, the chief executive officer now directly owns 31,690 shares in the company, valued at $4,835,260.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP William N. Springer sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total value of $350,660.00. Following the transaction, the executive vice president now owns 11,919 shares in the company, valued at $2,089,758.27. The disclosure for this sale can be found here. Insiders sold 18,970 shares of company stock worth $3,172,757 over the last three months. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Performance

Extra Space Storage stock opened at $181.65 on Thursday. The business has a 50 day moving average of $169.24 and a 200-day moving average of $154.28. The company has a market capitalization of $38.46 billion, a P/E ratio of 40.46, a P/E/G ratio of 2.56 and a beta of 0.86. Extra Space Storage Inc. has a 1 year low of $101.19 and a 1 year high of $184.87. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.20 and a quick ratio of 0.20.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date is Monday, September 16th. Extra Space Storage’s payout ratio is 144.32%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Jefferies Financial Group upgraded Extra Space Storage from a “hold” rating to a “buy” rating and boosted their price target for the company from $162.00 to $204.00 in a research note on Wednesday. Bank of America downgraded shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $172.00 to $155.00 in a report on Monday, August 5th. Truist Financial boosted their price target on Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a research note on Friday, August 16th. Barclays raised their price target on Extra Space Storage from $158.00 to $188.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, Royal Bank of Canada began coverage on shares of Extra Space Storage in a research note on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 price objective on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Extra Space Storage currently has a consensus rating of “Hold” and an average target price of $170.93.

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.