Skandinaviska Enskilda Banken AB publ Has $6.20 Million Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Skandinaviska Enskilda Banken AB publ trimmed its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,074 shares of the real estate investment trust’s stock after selling 252 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Extra Space Storage were worth $6,195,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of EXR. Golden State Wealth Management LLC bought a new stake in Extra Space Storage in the fourth quarter valued at approximately $25,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Extra Space Storage during the third quarter worth $42,000. Quent Capital LLC raised its stake in 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 buying an additional 154 shares during the last quarter. Asset Planning Inc acquired a new stake in Extra Space Storage during the 4th quarter worth about $52,000. Finally, Kestra Investment Management LLC bought a new position in shares of Extra Space Storage in the 4th quarter worth about $54,000. 99.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on EXR. Barclays reduced their price objective on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a research report on Wednesday. Truist Financial lifted their price target on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Royal Bank of Canada cut their price target on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $171.09.

Insiders Place Their Bets

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction on Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following the completion of the transaction, the executive vice president now directly owns 20,158 shares of the company’s stock, valued at $3,077,320.28. The trade was a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,392 shares of company stock worth $1,396,515 in the last ninety days. 1.36% of the stock is currently owned by insiders.

Extra Space Storage Price Performance

Shares of NYSE EXR opened at $145.03 on Friday. The stock has a fifty day moving average of $152.94 and a 200-day moving average of $162.10. The stock has a market cap of $30.75 billion, a PE ratio of 37.97, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. Extra Space Storage Inc. has a fifty-two week low of $131.02 and a fifty-two week high of $184.87.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.93. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. Equities research analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $1.62 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.47%. Extra Space Storage’s payout ratio is currently 160.40%.

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.