Fjarde AP Fonden Fourth Swedish National Pension Fund Raises Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 8.2% in the 4th quarter, HoldingsChannel reports. The firm owned 40,956 shares of the real estate investment trust’s stock after acquiring an additional 3,100 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Extra Space Storage were worth $6,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in shares of Extra Space Storage during the fourth quarter worth $25,000. Ashton Thomas Securities LLC purchased a new position in shares of Extra Space Storage during the third quarter worth $33,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Extra Space Storage during the third quarter worth $42,000. Quent Capital LLC raised its holdings in shares of Extra Space Storage by 89.0% during the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 154 shares during the last quarter. Finally, Asset Planning Inc acquired a new stake in shares of Extra Space Storage during the 4th quarter worth approximately $52,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the sale, the chief executive officer now directly owns 16,690 shares in the company, valued at $2,470,286.90. This represents a 31.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.36% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EXR. Wells Fargo & Company decreased their target price on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday. StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. Scotiabank upgraded Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 target price on the stock in a research report on Friday, January 10th. Barclays reduced their price target on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Finally, Truist Financial raised their price objective on Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $173.09.

Extra Space Storage Price Performance

Shares of Extra Space Storage stock opened at $159.14 on Tuesday. The stock has a market capitalization of $33.73 billion, a P/E ratio of 41.66, a PEG ratio of 7.76 and a beta of 0.91. The business has a 50 day simple moving average of $151.61 and a two-hundred day simple moving average of $163.74. Extra Space Storage Inc. has a 12 month low of $131.02 and a 12 month high of $184.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage’s dividend payout ratio is currently 169.63%.

About Extra Space Storage

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.