Gryphon Financial Partners LLC Trims Stake in Extra Space Storage Inc. (NYSE:EXR)

Gryphon Financial Partners LLC lowered its position in Extra Space Storage Inc. (NYSE:EXR) by 5.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 3,250 shares of the real estate investment trust’s stock after selling 173 shares during the period. Gryphon Financial Partners LLC’s holdings in Extra Space Storage were worth $505,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in EXR. Norges Bank purchased a new stake in shares of Extra Space Storage in the fourth quarter valued at $1,022,811,000. Boston Partners bought a new position in shares of Extra Space Storage in the first quarter worth about $130,554,000. Capital Research Global Investors grew its holdings in shares of Extra Space Storage by 111.4% in the fourth quarter. Capital Research Global Investors now owns 1,537,317 shares of the real estate investment trust’s stock worth $246,478,000 after purchasing an additional 810,158 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Extra Space Storage by 2,244.2% in the first quarter. Janus Henderson Group PLC now owns 597,729 shares of the real estate investment trust’s stock worth $87,824,000 after purchasing an additional 572,231 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Extra Space Storage by 43.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,557,135 shares of the real estate investment trust’s stock worth $228,899,000 after purchasing an additional 473,559 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on EXR shares. Royal Bank of Canada started coverage on shares of Extra Space Storage in a report on Tuesday. They issued a “sector perform” rating and a $180.00 price target on the stock. Raymond James upped their price target on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. KeyCorp upped their price target on shares of Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a report on Monday. StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, Truist Financial increased their target price on shares of Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Extra Space Storage currently has a consensus rating of “Hold” and a consensus target price of $168.36.

Extra Space Storage Trading Up 1.5 %

NYSE:EXR opened at $177.43 on Wednesday. The stock has a market capitalization of $37.60 billion, a price-to-earnings ratio of 39.52, a PEG ratio of 2.53 and a beta of 0.86. Extra Space Storage Inc. has a 52 week low of $101.19 and a 52 week high of $179.23. 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 firm has a 50 day moving average of $166.34 and a 200 day moving average of $152.78.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $1.62 dividend. The ex-dividend date is Monday, September 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.65%. Extra Space Storage’s payout ratio is 144.32%.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $152.58, for a total value of $1,144,350.00. Following the completion of the sale, the chief executive officer now owns 31,690 shares of the company’s stock, valued at $4,835,260.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Extra Space Storage news, EVP William N. Springer sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total value of $350,660.00. Following the completion of the transaction, the executive vice president now owns 11,919 shares of the company’s stock, valued at $2,089,758.27. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the sale, the chief executive officer now directly owns 31,690 shares in the company, valued at $4,835,260.20. The disclosure for this sale can be found here. Insiders have sold a total of 12,323 shares of company stock worth $1,994,709 in the last ninety days. 1.36% of the stock is owned by insiders.

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.