Handelsbanken Fonder AB Has $14.34 Million Position in Extra Space Storage Inc. (NYSE:EXR)

Handelsbanken Fonder AB grew its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 18.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 89,450 shares of the real estate investment trust’s stock after buying an additional 13,669 shares during the period. Handelsbanken Fonder AB’s holdings in Extra Space Storage were worth $14,342,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Extra Space Storage by 55.7% during the third quarter. Vanguard Group Inc. now owns 33,686,341 shares of the real estate investment trust’s stock valued at $4,095,585,000 after buying an additional 12,055,172 shares during the last quarter. Principal Financial Group Inc. raised its position in Extra Space Storage by 22.1% in the third quarter. Principal Financial Group Inc. now owns 6,505,834 shares of the real estate investment trust’s stock worth $790,975,000 after purchasing an additional 1,178,760 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Extra Space Storage by 599.8% during the third quarter. JPMorgan Chase & Co. now owns 3,345,787 shares of the real estate investment trust’s stock worth $406,781,000 after purchasing an additional 2,867,657 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Extra Space Storage by 33.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,032,090 shares of the real estate investment trust’s stock valued at $368,642,000 after purchasing an additional 763,493 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in Extra Space Storage by 8.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 2,724,293 shares of the real estate investment trust’s stock valued at $436,786,000 after purchasing an additional 211,395 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on EXR shares. Raymond James reaffirmed an “outperform” rating and set a $160.00 price objective on shares of Extra Space Storage in a report on Thursday, March 28th. Barclays started coverage on Extra Space Storage in a report on Wednesday, March 27th. They set an “overweight” rating and a $157.00 price objective on the stock. The Goldman Sachs Group lifted 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. TheStreet raised Extra Space Storage from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Finally, Scotiabank assumed coverage on Extra Space Storage in a report on Tuesday, February 13th. They set a “sector underperform” rating and a $131.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $150.17.

Extra Space Storage Stock Up 0.4 %

NYSE:EXR opened at $133.30 on Wednesday. The stock’s fifty day moving average price is $142.28 and its two-hundred day moving average price is $138.03. Extra Space Storage Inc. has a 52-week low of $101.19 and a 52-week high of $164.99. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market cap of $28.21 billion, a price-to-earnings ratio of 26.98, a P/E/G ratio of 3.26 and a beta of 0.74.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($1.01). Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. The firm had revenue of $797.77 million for the quarter, compared to analyst estimates of $778.05 million. During the same period in the prior year, the company posted $2.09 EPS. The firm’s quarterly revenue was up 57.4% compared to the same quarter last year. On average, analysts anticipate that Extra Space Storage Inc. will post 8.05 EPS for the current year.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.86%. The ex-dividend date was Thursday, March 14th. Extra Space Storage’s payout ratio is 131.17%.

Insider Buying and Selling at Extra Space Storage

In related news, CMO Samrat Sondhi sold 2,048 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $146.46, for a total value of $299,950.08. Following the completion of the sale, the chief marketing officer now owns 94,126 shares in the company, valued at approximately $13,785,693.96. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CMO Samrat Sondhi sold 2,048 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $146.46, for a total value of $299,950.08. Following the completion of the sale, the chief marketing officer now owns 94,126 shares in the company, valued at approximately $13,785,693.96. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the sale, the executive vice president now owns 37,028 shares of the company’s stock, valued at approximately $5,369,060. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,532 shares of company stock worth $514,819. Insiders own 1.36% of the company’s stock.

Extra Space Storage 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.