Pathstone Holdings LLC Has $2.35 Million Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Pathstone Holdings LLC boosted its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 1.1% in the third quarter, Holdings Channel.com reports. The firm owned 13,027 shares of the real estate investment trust’s stock after purchasing an additional 148 shares during the period. Pathstone Holdings LLC’s holdings in Extra Space Storage were worth $2,347,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in EXR. Swiss National Bank boosted its stake in Extra Space Storage by 0.3% during the 3rd quarter. Swiss National Bank now owns 628,327 shares of the real estate investment trust’s stock valued at $113,218,000 after purchasing an additional 1,900 shares during the period. Atlanta Consulting Group Advisors LLC bought a new position in Extra Space Storage in the third quarter worth $247,000. Vaughan Nelson Investment Management L.P. increased its holdings in Extra Space Storage by 9.7% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 298,605 shares of the real estate investment trust’s stock valued at $53,806,000 after buying an additional 26,316 shares during the period. Natixis Advisors LLC raised its stake in shares of Extra Space Storage by 2.0% in the 3rd quarter. Natixis Advisors LLC now owns 108,688 shares of the real estate investment trust’s stock valued at $19,585,000 after buying an additional 2,095 shares in the last quarter. Finally, Mizuho Securities USA LLC lifted its holdings in shares of Extra Space Storage by 1,664.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 288,094 shares of the real estate investment trust’s stock worth $51,912,000 after acquiring an additional 271,765 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Jefferies Financial Group raised Extra Space Storage from a “hold” rating to a “buy” rating and boosted their price target for the company from $162.00 to $204.00 in a research note on Wednesday, September 18th. Barclays boosted their price objective on Extra Space Storage from $188.00 to $192.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Royal Bank of Canada began 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 on the stock. KeyCorp boosted their price objective on shares of Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Finally, StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $171.36.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $170.38 on Tuesday. The company has a market capitalization of $36.12 billion, a price-to-earnings ratio of 44.60, a PEG ratio of 8.47 and a beta of 0.87. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 12 month low of $125.82 and a 12 month high of $184.87. The stock’s 50 day moving average is $170.30 and its 200-day moving average is $163.85.

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

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.80%. The ex-dividend date is Monday, December 16th. Extra Space Storage’s dividend payout ratio (DPR) is 169.63%.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total value of $1,338,900.00. Following the completion of the sale, the chief executive officer now directly owns 24,190 shares in the company, valued at approximately $4,318,398.80. The trade was a 23.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Diane Olmstead sold 3,081 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $164.56, for a total value of $507,009.36. Following the completion of the sale, the director now owns 5,877 shares of the company’s stock, valued at approximately $967,119.12. This trade represents a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,228 shares of company stock valued at $3,374,617 in the last quarter. Company 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.