Extra Space Storage Inc. (NYSE:EXR) Shares Bought by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC increased its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 1.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,258 shares of the real estate investment trust’s stock after acquiring an additional 177 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Extra Space Storage were worth $1,742,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Quarry LP boosted its position in shares of Extra Space Storage by 1,480.0% during the 2nd quarter. Quarry LP now owns 869 shares of the real estate investment trust’s stock worth $135,000 after purchasing an additional 814 shares during the period. Sunbelt Securities Inc. grew its stake in shares of Extra Space Storage by 441.2% in the second quarter. Sunbelt Securities Inc. now owns 617 shares of the real estate investment trust’s stock worth $96,000 after acquiring an additional 503 shares in the last quarter. Creative Planning lifted its stake in Extra Space Storage by 1.1% in the second quarter. Creative Planning now owns 27,855 shares of the real estate investment trust’s stock worth $4,329,000 after acquiring an additional 292 shares during the last quarter. Alethea Capital Management LLC acquired a new position in Extra Space Storage during the 2nd quarter worth approximately $539,000. Finally, Scientech Research LLC purchased a new stake in shares of Extra Space Storage in the 2nd quarter valued at approximately $275,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Performance

Shares of EXR stock opened at $180.20 on Tuesday. The firm has a market capitalization of $38.15 billion, a price-to-earnings ratio of 40.13, a price-to-earnings-growth ratio of 2.67 and a beta of 0.86. The company has a 50 day moving average price of $171.51 and a 200 day moving average price of $155.94. Extra Space Storage Inc. has a one year low of $101.19 and a one year high of $184.87. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend was Monday, September 16th. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.32%.

Insider Activity at Extra Space Storage

In related news, Director Kenneth M. Woolley sold 6,647 shares of the firm’s stock in a transaction dated 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 directly owns 404,306 shares in the company, valued at approximately $71,655,152.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Extra Space Storage news, Director Kenneth M. Woolley sold 6,647 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $177.23, for a total value of $1,178,047.81. Following the completion of the transaction, the director now directly owns 404,306 shares of the company’s stock, valued at approximately $71,655,152.38. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP William N. Springer sold 2,000 shares of Extra Space Storage stock in a transaction dated Wednesday, August 28th. The stock was 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 $2,089,758.27. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,470 shares of company stock worth $2,028,407. Company insiders own 1.36% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on EXR shares. KeyCorp boosted their target price on Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Raymond James upped their target price on Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Evercore ISI lifted their price target on Extra Space Storage from $167.00 to $170.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Scotiabank increased their price objective on Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a report on Thursday, August 22nd. Finally, Wells Fargo & Company lifted their target price on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Extra Space Storage presently has a consensus rating of “Hold” and an average target price of $170.93.

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.