Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Heitman Real Estate Securities LLC

Heitman Real Estate Securities LLC lowered its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 454,594 shares of the real estate investment trust’s stock after selling 10,053 shares during the period. Extra Space Storage makes up 4.5% of Heitman Real Estate Securities LLC’s investment portfolio, making the stock its 3rd biggest holding. Heitman Real Estate Securities LLC owned about 0.21% of Extra Space Storage worth $81,913,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in EXR. Gateway Investment Advisers LLC purchased a new position in Extra Space Storage in the second quarter worth about $16,026,000. MADDEN SECURITIES Corp purchased a new position in shares of Extra Space Storage during the 2nd quarter worth $1,002,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Extra Space Storage by 53.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,738 shares of the real estate investment trust’s stock valued at $1,824,000 after acquiring an additional 4,102 shares during the last quarter. Swedbank AB lifted its stake in Extra Space Storage by 4.5% in the third quarter. Swedbank AB now owns 243,130 shares of the real estate investment trust’s stock valued at $43,810,000 after purchasing an additional 10,408 shares during the last quarter. Finally, Czech National Bank boosted its position in Extra Space Storage by 8.5% during the second quarter. Czech National Bank now owns 40,346 shares of the real estate investment trust’s stock valued at $6,270,000 after buying an additional 3,172 shares during the period. 99.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on EXR shares. Evercore ISI reduced their target price on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a report on Monday, October 14th. Scotiabank lowered their target price on shares of Extra Space Storage from $169.00 to $167.00 and set a “sector underperform” rating for the company in a report on Monday, November 25th. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Barclays boosted their price target on shares of Extra Space Storage from $188.00 to $192.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Finally, Truist Financial increased their price objective 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. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Extra Space Storage currently has an average rating of “Hold” and a consensus price target of $171.36.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total value of $1,338,900.00. Following the sale, the chief executive officer now owns 24,190 shares in the company, valued at approximately $4,318,398.80. This represents a 23.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kenneth M. Woolley sold 6,647 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $177.23, for a total value of $1,178,047.81. Following the completion of the sale, the director now directly owns 404,306 shares of the company’s stock, valued at $71,655,152.38. This trade represents a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,228 shares of company stock valued at $3,023,957. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Performance

Shares of NYSE EXR opened at $169.66 on Tuesday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The firm has a 50 day moving average of $169.37 and a 200 day moving average of $164.64. Extra Space Storage Inc. has a 12-month low of $131.02 and a 12-month high of $184.87. The firm has a market capitalization of $35.96 billion, a price-to-earnings ratio of 44.41, a price-to-earnings-growth ratio of 8.60 and a beta of 0.89.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing the consensus estimate of $2.03 by ($1.12). Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The firm had revenue of $824.80 million for the quarter, compared to analyst estimates of $826.93 million. During the same quarter last year, the firm earned $2.02 EPS. The company’s revenue was up 10.2% on a year-over-year basis. On average, research analysts anticipate that Extra Space Storage Inc. will post 8.09 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $1.62 per share. The ex-dividend date is Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.82%. Extra Space Storage’s dividend payout ratio is presently 169.63%.

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.