Sequoia Financial Advisors LLC Purchases 129 Shares of Extra Space Storage Inc. (NYSE:EXR)

Sequoia Financial Advisors LLC lifted its position in Extra Space Storage Inc. (NYSE:EXR) by 5.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,526 shares of the real estate investment trust’s stock after buying an additional 129 shares during the period. Sequoia Financial Advisors LLC’s holdings in Extra Space Storage were worth $455,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Extra Space Storage by 0.5% in the first quarter. Vanguard Group Inc. now owns 33,686,389 shares of the real estate investment trust’s stock worth $4,951,899,000 after acquiring an additional 170,380 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Extra Space Storage by 4.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,549,231 shares of the real estate investment trust’s stock worth $551,586,000 after buying an additional 157,763 shares during the period. Dimensional Fund Advisors LP raised its holdings in Extra Space Storage by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,127,012 shares of the real estate investment trust’s stock worth $485,973,000 after buying an additional 45,717 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in Extra Space Storage by 7.2% in the second quarter. Diamond Hill Capital Management Inc. now owns 2,965,638 shares of the real estate investment trust’s stock valued at $460,890,000 after buying an additional 198,888 shares in the last quarter. Finally, Centersquare Investment Management LLC boosted its holdings in shares of Extra Space Storage by 1.3% in the first quarter. Centersquare Investment Management LLC now owns 2,546,475 shares of the real estate investment trust’s stock valued at $341,941,000 after buying an additional 32,591 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Trading Down 1.1 %

Shares of NYSE:EXR opened at $166.40 on Monday. The company has a 50-day simple moving average of $174.56 and a 200 day simple moving average of $159.68. The company has a market capitalization of $35.23 billion, a P/E ratio of 37.06, a price-to-earnings-growth ratio of 6.25 and a beta of 0.86. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.20 and a current ratio of 0.20. Extra Space Storage Inc. has a 52-week low of $101.19 and a 52-week high of $184.87.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $6.48 annualized dividend and a dividend yield of 3.89%. Extra Space Storage’s dividend payout ratio is currently 144.32%.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $4,318,398.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total value of $1,338,900.00. Following the transaction, the chief executive officer now owns 24,190 shares in the company, valued at approximately $4,318,398.80. This represents a 0.00 % decrease in their position. The sale 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 firm’s 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 sale, the director now owns 404,306 shares of the company’s stock, valued at $71,655,152.38. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,970 shares of company stock valued at $3,367,307. 1.36% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on EXR. Royal Bank of Canada assumed coverage on shares of Extra Space Storage in a report on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 price objective on the stock. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Barclays lifted their target price on Extra Space Storage from $158.00 to $188.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Truist Financial upped their price target on Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Finally, KeyCorp lifted their price objective on shares of Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Extra Space Storage currently has an average rating of “Hold” and an average price target of $170.80.

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.