Ensign Peak Advisors Inc Cuts Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Ensign Peak Advisors Inc lowered its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 4.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 267,101 shares of the real estate investment trust’s stock after selling 11,228 shares during the quarter. Ensign Peak Advisors Inc owned approximately 0.13% of Extra Space Storage worth $41,510,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Beacon Pointe Advisors LLC grew its position in Extra Space Storage by 21.2% in the fourth quarter. Beacon Pointe Advisors LLC now owns 2,130 shares of the real estate investment trust’s stock worth $341,000 after acquiring an additional 373 shares during the period. Brown Advisory Inc. increased its stake in Extra Space Storage by 5.4% in the 4th quarter. Brown Advisory Inc. now owns 4,336 shares of the real estate investment trust’s stock valued at $695,000 after buying an additional 221 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Extra Space Storage in the fourth quarter valued at about $224,000. Wells Fargo & Company MN boosted its stake in shares of Extra Space Storage by 2.4% in the fourth quarter. Wells Fargo & Company MN now owns 342,604 shares of the real estate investment trust’s stock valued at $54,930,000 after buying an additional 7,895 shares in the last quarter. Finally, D.A. Davidson & CO. purchased a new stake in shares of Extra Space Storage during the 4th quarter worth $207,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insider Transactions at Extra Space Storage

In related news, EVP William N. Springer sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total value of $350,660.00. Following the completion of the transaction, the executive vice president now directly owns 11,919 shares of the company’s stock, valued at $2,089,758.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP William N. Springer sold 2,000 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 11,919 shares in the company, valued at approximately $2,089,758.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth M. Woolley sold 6,647 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $177.23, for a total transaction of $1,178,047.81. Following the transaction, the director now owns 404,306 shares in the company, valued at approximately $71,655,152.38. The disclosure for this sale can be found here. Insiders have sold a total of 18,970 shares of company stock valued at $3,172,757 over the last 90 days. 1.36% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. 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. KeyCorp increased their price target on shares of Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. 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 research note on Thursday, August 22nd. Citigroup decreased their price target on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, June 7th. Finally, Bank of America cut Extra Space Storage from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $172.00 to $155.00 in a report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $170.93.

Extra Space Storage Stock Up 0.2 %

Shares of NYSE EXR opened at $180.41 on Friday. Extra Space Storage Inc. has a 12-month low of $101.19 and a 12-month high of $184.87. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.76. The firm’s 50-day simple moving average is $170.03 and its 200 day simple moving average is $154.77. The company has a market cap of $38.20 billion, a price-to-earnings ratio of 40.18, a price-to-earnings-growth ratio of 2.56 and a beta of 0.86.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Monday, September 16th. Extra Space Storage’s payout ratio is 144.32%.

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.