Clarius Group LLC Trims Holdings in Extra Space Storage Inc. (NYSE:EXR)

Clarius Group LLC cut its holdings in Extra Space Storage Inc. (NYSE:EXR) by 3.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,873 shares of the real estate investment trust’s stock after selling 76 shares during the quarter. Clarius Group LLC’s holdings in Extra Space Storage were worth $336,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Extra Space Storage by 19.3% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 247,203 shares of the real estate investment trust’s stock worth $36,307,000 after buying an additional 40,055 shares during the period. Norden Group LLC purchased a new stake in shares of Extra Space Storage in the 1st quarter worth about $1,947,000. Gateway Investment Advisers LLC purchased a new stake in Extra Space Storage during the 2nd quarter valued at about $16,026,000. Centersquare Investment Management LLC grew its position in Extra Space Storage by 1.3% during the 1st quarter. Centersquare Investment Management LLC now owns 2,546,475 shares of the real estate investment trust’s stock valued at $341,941,000 after purchasing an additional 32,591 shares during the last quarter. Finally, MADDEN SECURITIES Corp purchased a new stake in Extra Space Storage during the 2nd quarter valued at about $1,002,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the 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 transaction, the chief executive officer now owns 24,190 shares in the company, valued at $4,318,398.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Extra Space Storage news, EVP William N. Springer sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total transaction of $350,660.00. Following the sale, the executive vice president now owns 11,919 shares in the company, valued at approximately $2,089,758.27. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm’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 transaction 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,970 shares of company stock worth $3,367,307 in the last quarter. Company insiders own 1.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Bank of America downgraded shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $172.00 to $155.00 in a research report on Monday, August 5th. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company increased their price objective on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Evercore ISI increased their price objective on shares of Extra Space Storage from $167.00 to $170.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Royal Bank of Canada initiated coverage on shares of Extra Space Storage in a research report on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $170.93.

Extra Space Storage Price Performance

Shares of NYSE:EXR opened at $170.54 on Friday. The firm’s 50 day moving average price is $173.58 and its 200-day moving average price is $158.14. Extra Space Storage Inc. has a twelve month low of $101.19 and a twelve month high of $184.87. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $36.11 billion, a PE ratio of 37.98, a price-to-earnings-growth ratio of 6.47 and a beta of 0.86.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.80%. The ex-dividend date was Monday, September 16th. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.32%.

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.