Exchange Traded Concepts LLC Makes New Investment in Extra Space Storage Inc. (NYSE:EXR)

Exchange Traded Concepts LLC acquired a new position in shares of Extra Space Storage Inc. (NYSE:EXR) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 757 shares of the real estate investment trust’s stock, valued at approximately $136,000.

Several other large investors also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV increased its stake in Extra Space Storage by 19.7% during the 2nd 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. increased its stake 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 buying an additional 78 shares in the last quarter. Park Avenue Securities LLC grew its position in shares of Extra Space Storage by 2.1% in the second quarter. Park Avenue Securities LLC now owns 3,773 shares of the real estate investment trust’s stock valued at $586,000 after purchasing an additional 79 shares in the last quarter. Gallacher Capital Management LLC grew its position 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 in the last quarter. Finally, Profund Advisors LLC grew its position in shares of Extra Space Storage by 2.9% in the second quarter. Profund Advisors LLC now owns 3,279 shares of the real estate investment trust’s stock valued at $510,000 after purchasing an additional 93 shares in the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EXR has been the subject of a number of analyst reports. StockNews.com upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Evercore ISI dropped their price target on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a research report on Monday, October 14th. Truist Financial upped their price target on Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Royal Bank of Canada initiated coverage on Extra Space Storage in a research report on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 price target for the company. Finally, Bank of America lowered Extra Space Storage from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $172.00 to $155.00 in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $170.80.

Insider Activity

In related news, EVP William N. Springer sold 2,000 shares of the 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 transaction, the executive vice president now owns 11,919 shares of the company’s stock, valued at $2,089,758.27. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP William N. Springer sold 2,000 shares of the 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 transaction, the executive vice president now owns 11,919 shares of the company’s stock, valued at $2,089,758.27. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Gwyn Goodson Mcneal sold 2,823 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $177.01, for a total value of $499,699.23. Following the completion of the transaction, the executive vice president now directly owns 32,855 shares in the company, valued at $5,815,663.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,970 shares of company stock worth $3,367,307. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Up 0.8 %

Shares of NYSE EXR opened at $166.18 on Wednesday. The stock has a market cap of $35.18 billion, a P/E ratio of 37.01, a PEG ratio of 6.47 and a beta of 0.86. 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 12-month low of $101.19 and a 12-month high of $184.87. The business’s fifty day simple moving average is $174.49 and its 200-day simple moving average is $159.38.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.90%. The ex-dividend date was Monday, September 16th. Extra Space Storage’s payout ratio is currently 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.