IFM Investors Pty Ltd Reduces Stock Position in Extra Space Storage Inc. (NYSE:EXR)

IFM Investors Pty Ltd reduced its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 1.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,784 shares of the real estate investment trust’s stock after selling 1,705 shares during the quarter. IFM Investors Pty Ltd’s holdings in Extra Space Storage were worth $16,358,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in EXR. EdgeRock Capital LLC bought a new stake in Extra Space Storage during the 2nd quarter valued at $25,000. Centerpoint Advisors LLC acquired a new position in shares of Extra Space Storage in the 2nd quarter valued at about $27,000. Blue Trust Inc. lifted its position in Extra Space Storage by 540.5% in the 2nd quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 200 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in Extra Space Storage by 2,760.0% during 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 during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in 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 worth $72,000 after buying an additional 76 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Raymond James increased their target price on Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Bank of America cut shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $172.00 to $155.00 in a research note on Monday, August 5th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $175.00 target price on shares of Extra Space Storage in a research note on Monday. Truist Financial increased their price target on Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Finally, KeyCorp lifted their price objective on Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $170.80.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, EVP William N. Springer sold 2,000 shares of Extra Space Storage stock in a transaction that occurred 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 transaction, the executive vice president now owns 11,919 shares of the company’s stock, valued at approximately $2,089,758.27. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP William N. Springer sold 2,000 shares of the 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 transaction, the executive vice president now owns 11,919 shares in the company, valued at approximately $2,089,758.27. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm’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 completion of the transaction, the chief executive officer now owns 24,190 shares of the company’s stock, valued at approximately $4,318,398.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,970 shares of company stock valued at $3,367,307 over the last 90 days. 1.36% of the stock is owned by company insiders.

Extra Space Storage Trading Down 0.1 %

Shares of Extra Space Storage stock traded down $0.18 during trading on Thursday, reaching $168.88. 136,925 shares of the company were exchanged, compared to its average volume of 1,037,993. Extra Space Storage Inc. has a twelve month low of $101.19 and a twelve month high of $184.87. The business has a 50-day moving average price of $174.54 and a 200-day moving average price of $159.45. 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 market capitalization of $35.76 billion, a price-to-earnings ratio of 37.76, a P/E/G ratio of 6.47 and a beta of 0.86.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $1.62 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $6.48 dividend on an annualized basis and a yield of 3.84%. Extra Space Storage’s payout ratio is 144.32%.

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.