Pacer Advisors Inc. Sells 902 Shares of Extra Space Storage Inc. (NYSE:EXR)

Pacer Advisors Inc. lessened its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Gateway Investment Advisers LLC purchased a new stake in shares of Extra Space Storage during the 2nd quarter valued at about $16,026,000. MADDEN SECURITIES Corp bought a new position in Extra Space Storage in the second quarter worth approximately $1,002,000. Tidal Investments LLC boosted its stake in shares of Extra Space Storage by 262.5% during the 1st quarter. Tidal Investments LLC now owns 12,967 shares of the real estate investment trust’s stock worth $1,906,000 after acquiring an additional 9,390 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Extra Space Storage by 53.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,738 shares of the real estate investment trust’s stock valued at $1,824,000 after acquiring an additional 4,102 shares during the period. Finally, Czech National Bank increased its stake in shares of Extra Space Storage by 8.5% in the 2nd quarter. Czech National Bank now owns 40,346 shares of the real estate investment trust’s stock worth $6,270,000 after purchasing an additional 3,172 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Analysts Set New Price Targets

EXR has been the topic of several analyst reports. Bank of America downgraded Extra Space Storage from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $172.00 to $155.00 in a research report on Monday, August 5th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $175.00 price objective on shares of Extra Space Storage in a research report on Monday, October 21st. Scotiabank increased their target price on shares of Extra Space Storage from $159.00 to $169.00 and gave the stock a “sector underperform” rating in a report on Thursday, August 22nd. Jefferies Financial Group upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and upped their price target for the stock from $162.00 to $204.00 in a research report on Wednesday, September 18th. Finally, Truist Financial increased their price objective 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. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $171.50.

Insider Buying and Selling

In other Extra Space Storage news, Director Diane Olmstead sold 3,081 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $164.56, for a total value of $507,009.36. Following the completion of the sale, the director now owns 5,877 shares of the company’s stock, valued at $967,119.12. This trade represents a 34.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total value of $1,338,900.00. Following the transaction, the chief executive officer now directly owns 24,190 shares in the company, valued at approximately $4,318,398.80. This represents a 23.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,228 shares of company stock worth $3,374,617 over the last three months. 1.36% of the stock is owned by insiders.

Extra Space Storage Trading Up 0.8 %

EXR 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 firm has a fifty day moving average price of $170.64 and a 200 day moving average price of $163.21. 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 $125.32 and a fifty-two week high of $184.87.

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 (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 business had revenue of $824.80 million for the quarter, compared to analysts’ expectations of $826.93 million. During the same quarter in the prior year, the company posted $2.02 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. Sell-side analysts anticipate that Extra Space Storage Inc. will post 8.09 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

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