Skandinaviska Enskilda Banken AB publ grew its position in Extra Space Storage Inc. (NYSE:EXR – Free Report) by 51.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,782 shares of the real estate investment trust’s stock after buying an additional 13,521 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Extra Space Storage were worth $4,837,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in EXR. Private Advisor Group LLC increased its position in shares of Extra Space Storage by 5.6% in the first quarter. Private Advisor Group LLC now owns 1,404 shares of the real estate investment trust’s stock valued at $289,000 after buying an additional 74 shares in the last quarter. Blair William & Co. IL boosted its stake in shares of Extra Space Storage by 16.5% during the first quarter. Blair William & Co. IL now owns 1,502 shares of the real estate investment trust’s stock valued at $309,000 after acquiring an additional 213 shares during the last quarter. Prudential PLC acquired a new stake in shares of Extra Space Storage during the first quarter valued at $625,000. Cetera Investment Advisers boosted its stake in shares of Extra Space Storage by 8.2% during the first quarter. Cetera Investment Advisers now owns 2,522 shares of the real estate investment trust’s stock valued at $519,000 after acquiring an additional 192 shares during the last quarter. Finally, Dakota Wealth Management acquired a new stake in shares of Extra Space Storage during the first quarter valued at $332,000. Hedge funds and other institutional investors own 66.40% of the company’s stock.
Analyst Ratings Changes
EXR has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Extra Space Storage in a research note on Tuesday, January 30th. They set a “hold” rating and a $141.00 price objective on the stock. TheStreet raised Extra Space Storage from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Raymond James decreased their price objective on Extra Space Storage from $165.00 to $145.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, October 24th. Bank of America lowered Extra Space Storage from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $155.00 to $119.00 in a research note on Monday, October 30th. Finally, Stifel Nicolaus decreased their price target on Extra Space Storage from $185.00 to $165.00 and set a “buy” rating on the stock in a research note on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $151.45.
Extra Space Storage Stock Performance
NYSE EXR opened at $142.02 on Tuesday. The firm has a market capitalization of $30.01 billion, a P/E ratio of 26.11, a P/E/G ratio of 3.54 and a beta of 0.75. Extra Space Storage Inc. has a 1-year low of $101.19 and a 1-year high of $170.30. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.50 and a quick ratio of 0.50. The business’s 50-day simple moving average is $149.82 and its 200-day simple moving average is $132.64.
Extra Space Storage Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were paid a $1.62 dividend. This is a positive change from Extra Space Storage’s previous quarterly dividend of $0.61. This represents a $6.48 annualized dividend and a dividend yield of 4.56%. The ex-dividend date was Thursday, December 14th. Extra Space Storage’s payout ratio is currently 119.12%.
In other news, Director Joseph Saffire sold 25,000 shares of Extra Space Storage stock in a transaction dated 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 directly owns 42,344 shares of the company’s stock, valued at approximately $6,525,210.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.55% 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 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.
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