Van ECK Associates Corp Grows Holdings in Extra Space Storage Inc. (NYSE:EXR)

Van ECK Associates Corp grew its stake in Extra Space Storage Inc. (NYSE:EXR) by 11.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 96,609 shares of the real estate investment trust’s stock after acquiring an additional 10,063 shares during the period. Van ECK Associates Corp’s holdings in Extra Space Storage were worth $16,333,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. EdgeRock Capital LLC purchased a new stake in shares of Extra Space Storage in the 2nd quarter valued at approximately $25,000. Centerpoint Advisors LLC purchased a new stake in shares of Extra Space Storage in the 2nd quarter valued at approximately $27,000. Blue Trust Inc. grew its holdings in shares of Extra Space Storage by 540.5% in the second quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 200 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Extra Space Storage by 2,760.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 276 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of Extra Space Storage by 19.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 76 shares in the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Evercore ISI dropped their price objective on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a report on Monday, October 14th. Jefferies Financial Group upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and lifted their price objective for the company from $162.00 to $204.00 in a report on Wednesday, September 18th. Scotiabank lifted their price objective on shares of Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a report on Thursday, August 22nd. Finally, Truist Financial boosted their price target 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. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $171.07.

Extra Space Storage Trading Up 3.1 %

Shares of Extra Space Storage stock opened at $168.67 on Wednesday. The company has a fifty day simple moving average of $173.30 and a 200-day simple moving average of $161.17. Extra Space Storage Inc. has a 12-month low of $104.88 and a 12-month high of $184.87. The company has a current ratio of 0.23, a quick ratio of 0.20 and a debt-to-equity ratio of 0.77. The stock has a market cap of $35.75 billion, a price-to-earnings ratio of 44.15, a PEG ratio of 6.06 and a beta of 0.87.

Extra Space Storage (NYSE:EXR) last issued its earnings results 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). Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The company had revenue of $824.80 million during the quarter, compared to analyst estimates of $826.93 million. During the same quarter in the previous year, the company posted $2.02 EPS. The company’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities analysts forecast that Extra Space Storage Inc. will post 8.08 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.84%. The ex-dividend date was Monday, September 16th. Extra Space Storage’s payout ratio is 169.63%.

Insider Activity at Extra Space Storage

In related news, EVP William N. Springer sold 2,000 shares of the company’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 sale, the executive vice president now owns 11,919 shares in the company, valued at $2,089,758.27. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $177.01, for a total value of $499,699.23. Following the completion of the sale, the executive vice president now owns 32,855 shares in the company, valued at $5,815,663.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William N. Springer sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total transaction of $350,660.00. Following the completion of the sale, the executive vice president now owns 11,919 shares of the company’s stock, valued at approximately $2,089,758.27. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,970 shares of company stock worth $3,367,307 in the last 90 days. 1.36% of the stock is owned by insiders.

Extra Space Storage 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.