Van ECK Associates Corp Boosts Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Van ECK Associates Corp boosted its holdings in shares of Extra Space Storage Inc. (NYSE:EXRFree Report) by 58.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,557 shares of the real estate investment trust’s stock after buying an additional 27,887 shares during the period. Van ECK Associates Corp’s holdings in Extra Space Storage were worth $9,186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in EXR. First Horizon Advisors Inc. increased its position in Extra Space Storage by 1,272.7% during the 1st quarter. First Horizon Advisors Inc. now owns 151 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 140 shares in the last quarter. Zions Bancorporation N.A. increased its position in Extra Space Storage by 241.9% during the 3rd quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 150 shares in the last quarter. Money Concepts Capital Corp acquired a new position in Extra Space Storage during the 4th quarter valued at about $27,000. EverSource Wealth Advisors LLC increased its position in Extra Space Storage by 162.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 143 shares in the last quarter. Finally, IFP Advisors Inc increased its holdings in shares of Extra Space Storage by 110.4% in the second quarter. IFP Advisors Inc now owns 223 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 117 shares during the period. 66.40% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Joseph Saffire sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $154.10, for a total value of $3,852,500.00. Following the transaction, the director now owns 42,344 shares in the company, valued at $6,525,210.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Joseph D. Margolis acquired 4,200 shares of Extra Space Storage stock in a transaction that occurred on Monday, November 13th. The shares were purchased at an average price of $118.21 per share, for a total transaction of $496,482.00. Following the completion of the transaction, the chief executive officer now owns 31,301 shares in the company, valued at approximately $3,700,091.21. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Saffire sold 25,000 shares of Extra Space Storage stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $154.10, for a total value of $3,852,500.00. Following the transaction, the director now owns 42,344 shares in the company, valued at approximately $6,525,210.40. The disclosure for this sale can be found here. Company insiders own 1.55% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on EXR shares. Deutsche Bank Aktiengesellschaft started coverage on Extra Space Storage in a report on Tuesday, January 30th. They issued a “hold” rating and a $141.00 price objective on the stock. The Goldman Sachs Group increased their price objective on Extra Space Storage from $168.00 to $187.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Truist Financial increased their price objective on Extra Space Storage from $138.00 to $152.00 and gave the company a “hold” rating in a report on Thursday, December 28th. Bank of America lowered Extra Space Storage from a “buy” rating to a “neutral” rating and cut their price objective for the company from $155.00 to $119.00 in a report on Monday, October 30th. Finally, StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Extra Space Storage currently has an average rating of “Hold” and an average price target of $151.45.

Check Out Our Latest Stock Analysis on Extra Space Storage

Extra Space Storage Stock Performance

Shares of EXR stock opened at $143.38 on Friday. The company has a market capitalization of $30.29 billion, a P/E ratio of 26.36, a P/E/G ratio of 3.55 and a beta of 0.75. The business’s 50 day moving average is $149.72 and its two-hundred day moving average is $132.81. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.70. Extra Space Storage Inc. has a 12-month low of $101.19 and a 12-month high of $170.30.

Extra Space Storage Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend was Thursday, December 14th. This is an increase from Extra Space Storage’s previous quarterly dividend of $0.61. Extra Space Storage’s dividend payout ratio (DPR) is 119.12%.

Extra Space Storage Profile

(Free Report)

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 September 30, 2023, the Company owned and/or operated 3,651 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.5 million units and approximately 279.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.

Further Reading

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Institutional Ownership by Quarter for Extra Space Storage (NYSE:EXR)

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