Pacer Advisors Inc. Has $11.27 Million Stake in Extra Space Storage Inc. (NYSE:EXR)

Pacer Advisors Inc. reduced its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 9.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 72,501 shares of the real estate investment trust’s stock after selling 7,401 shares during the period. Pacer Advisors Inc.’s holdings in Extra Space Storage were worth $11,267,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of EXR. Massmutual Trust Co. FSB ADV grew its holdings in Extra Space Storage by 19.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust’s stock worth $72,000 after buying an additional 76 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in Extra Space Storage by 5.2% during the 1st quarter. QRG Capital Management Inc. now owns 1,588 shares of the real estate investment trust’s stock worth $233,000 after acquiring an additional 78 shares during the last quarter. Park Avenue Securities LLC grew its stake in shares of Extra Space Storage by 2.1% in the 2nd quarter. Park Avenue Securities LLC now owns 3,773 shares of the real estate investment trust’s stock worth $586,000 after acquiring an additional 79 shares in the last quarter. Gallacher Capital Management LLC raised its holdings in shares of Extra Space Storage by 1.2% in the second quarter. Gallacher Capital Management LLC now owns 7,433 shares of the real estate investment trust’s stock valued at $1,155,000 after purchasing an additional 86 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its position in shares of Extra Space Storage by 3.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,730 shares of the real estate investment trust’s stock valued at $424,000 after purchasing an additional 94 shares in the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EXR has been the subject of several analyst reports. KeyCorp increased their price objective on shares of Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. StockNews.com upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. Truist Financial upped their price objective 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. Royal Bank of Canada began coverage on Extra Space Storage in a research note on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 target price on the stock. Finally, Bank of America lowered shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $172.00 to $155.00 in a research report on Monday, August 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $170.93.

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 dated 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 transaction, the chief executive officer now owns 31,690 shares in the company, valued at approximately $4,835,260.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Extra Space Storage news, EVP William N. Springer sold 2,000 shares of the stock in a transaction that occurred 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 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, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction 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 directly owns 31,690 shares of the company’s stock, valued at $4,835,260.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,970 shares of company stock worth $3,172,757. 1.36% of the stock is owned by company insiders.

Extra Space Storage Stock Up 0.2 %

Extra Space Storage stock opened at $180.41 on Monday. The firm has a 50 day simple moving average of $170.03 and a 200 day simple moving average of $154.85. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.76. Extra Space Storage Inc. has a 1-year low of $101.19 and a 1-year high of $184.87. The firm has a market capitalization of $38.20 billion, a price-to-earnings ratio of 40.18, a P/E/G ratio of 2.56 and a beta of 0.86.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Monday, September 16th. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.32%.

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.