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 lifted its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 8.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. 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 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of EXR. Golden State Wealth Management LLC bought a new position in shares of Extra Space Storage during the fourth quarter valued at approximately $25,000. Ashton Thomas Securities LLC bought a new position in shares of Extra Space Storage during the third quarter valued at approximately $33,000. Harvest Fund Management Co. Ltd bought a new position in shares of Extra Space Storage during the third quarter valued at approximately $42,000. Quent Capital LLC boosted its stake 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 valued at $49,000 after purchasing an additional 154 shares in the last quarter. Finally, Asset Planning Inc bought a new position in shares of Extra Space Storage during the fourth quarter valued at approximately $52,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on EXR shares. Truist Financial increased their price objective on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Barclays dropped their price objective on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Scotiabank upgraded shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective on the stock in a research note on Friday, January 10th. Finally, Wells Fargo & Company lowered 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Extra Space Storage has a consensus rating of “Hold” and an average target price of $173.09.

Insiders Place Their Bets

In other Extra Space Storage 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 value of $1,110,075.00. Following the completion of the transaction, the chief executive officer now owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Trading Up 2.0 %

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

Extra Space Storage Announces Dividend

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

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.