Extra Space Storage Inc. (NYSE:EXR) Shares Bought by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. boosted its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 10.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,227 shares of the real estate investment trust’s stock after purchasing an additional 596 shares during the period. Harbor Capital Advisors Inc.’s holdings in Extra Space Storage were worth $932,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in EXR. Tidal Investments LLC boosted its stake in shares of Extra Space Storage by 34.4% during the 3rd quarter. Tidal Investments LLC now owns 12,640 shares of the real estate investment trust’s stock worth $2,278,000 after acquiring an additional 3,234 shares in the last quarter. Swedbank AB lifted its holdings in shares of Extra Space Storage by 4.5% during 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. Duff & Phelps Investment Management Co. boosted its position in shares of Extra Space Storage by 9.5% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 35,503 shares of the real estate investment trust’s stock valued at $6,397,000 after purchasing an additional 3,093 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Extra Space Storage by 724.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust’s stock worth $357,100,000 after purchasing an additional 1,741,320 shares in the last quarter. Finally, Brown Financial Advisors lifted its stake in Extra Space Storage by 69.1% during the third quarter. Brown Financial Advisors now owns 9,134 shares of the real estate investment trust’s stock valued at $1,646,000 after buying an additional 3,731 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

Insider Activity at Extra Space Storage

In related news, Director Diane Olmstead sold 3,081 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 5,877 shares in the company, valued at approximately $967,119.12. This trade represents a 34.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the sale, the chief executive officer now owns 16,690 shares of the company’s stock, valued at $2,470,286.90. This trade represents a 31.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is owned by company insiders.

Extra Space Storage Price Performance

NYSE EXR opened at $147.50 on Tuesday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $31.27 billion, a PE ratio of 38.61, a price-to-earnings-growth ratio of 7.96 and a beta of 0.91. Extra Space Storage Inc. has a 12-month low of $131.02 and a 12-month high of $184.87. The company has a 50 day moving average price of $158.46 and a two-hundred day moving average price of $165.08.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($1.12). The business 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 firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.02 EPS. As a group, equities analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date of this dividend was Monday, December 16th. Extra Space Storage’s dividend payout ratio is 169.63%.

Analyst Upgrades and Downgrades

EXR has been the topic of several analyst reports. Jefferies Financial Group raised shares of Extra Space Storage from a “hold” rating to a “buy” rating and lifted their target price for the stock from $162.00 to $204.00 in a research report on Wednesday, September 18th. Evercore ISI cut 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 research note on Monday, October 14th. Scotiabank upgraded Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 target price for the company in a report on Friday. Wells Fargo & Company reiterated an “equal weight” rating and set a $175.00 price target on shares of Extra Space Storage in a report on Monday, October 21st. Finally, Barclays reduced their price objective on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $171.25.

Extra Space Storage Company 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.