Pacer Advisors Inc. Lowers Holdings in Extra Space Storage Inc. (NYSE:EXR)

Pacer Advisors Inc. reduced its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,599 shares of the real estate investment trust’s stock after selling 902 shares during the quarter. Pacer Advisors Inc.’s holdings in Extra Space Storage were worth $12,901,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Graypoint LLC raised its position in shares of Extra Space Storage by 4.3% in the 3rd quarter. Graypoint LLC now owns 1,575 shares of the real estate investment trust’s stock valued at $284,000 after purchasing an additional 65 shares during the last quarter. Hummer Financial Advisory Services Inc grew its stake in Extra Space Storage by 1.2% during the 3rd quarter. Hummer Financial Advisory Services Inc now owns 5,920 shares of the real estate investment trust’s stock valued at $1,067,000 after purchasing an additional 70 shares during the last quarter. Buckley Wealth Management LLC boosted its holdings in shares of Extra Space Storage by 1.9% in the 3rd quarter. Buckley Wealth Management LLC now owns 3,811 shares of the real estate investment trust’s stock valued at $687,000 after acquiring an additional 71 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its position in Extra Space Storage by 19.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust’s stock worth $72,000 after purchasing an additional 76 shares during the period. Finally, Bleakley Financial Group LLC boosted its stake in shares of Extra Space Storage by 4.1% in the third quarter. Bleakley Financial Group LLC now owns 1,973 shares of the real estate investment trust’s stock worth $356,000 after buying an additional 77 shares during the last quarter. 99.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

EXR has been the topic of several research analyst reports. KeyCorp raised their price objective on Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Truist Financial raised their price target on shares of Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Bank of America cut shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $172.00 to $155.00 in a research note on Monday, August 5th. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Finally, Evercore ISI lowered their target price on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a report on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $171.50.

Insider Buying and Selling at Extra Space Storage

In related news, EVP William N. Springer sold 2,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total value 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. The trade was a 14.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Diane Olmstead sold 3,081 shares of the stock in a transaction dated Friday, November 15th. The stock was 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. The trade was a 34.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,228 shares of company stock valued at $3,374,617 over the last quarter. 1.36% of the stock is owned by company insiders.

Extra Space Storage Stock Performance

Shares of Extra Space Storage stock opened at $168.14 on Friday. The firm has a market cap of $35.64 billion, a PE ratio of 44.02, a price-to-earnings-growth ratio of 8.34 and a beta of 0.87. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 52 week low of $125.32 and a 52 week high of $184.87. The business’s fifty day simple moving average is $170.64 and its 200-day simple moving average is $163.21.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($1.12). The company had revenue of $824.80 million for the quarter, compared to analysts’ expectations of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business earned $2.02 EPS. Equities analysts forecast that Extra Space Storage Inc. will post 8.09 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $6.48 annualized dividend and a yield of 3.85%. Extra Space Storage’s dividend payout ratio (DPR) is presently 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.