Pathway Financial Advisers LLC Sells 2,007,634 Shares of Extra Space Storage Inc. (NYSE:EXR)

Pathway Financial Advisers LLC lowered its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 99.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,250 shares of the real estate investment trust’s stock after selling 2,007,634 shares during the period. Pathway Financial Advisers LLC’s holdings in Extra Space Storage were worth $1,683,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of EXR. Golden State Wealth Management LLC bought a new position in Extra Space Storage during the 4th quarter worth approximately $25,000. Ashton Thomas Securities LLC acquired a new stake in Extra Space Storage in the third quarter worth $33,000. Harvest Fund Management Co. Ltd acquired a new stake in Extra Space Storage in the third quarter worth $42,000. Quent Capital LLC grew its holdings in shares of Extra Space Storage by 89.0% in the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 154 shares during the period. Finally, Continuum Advisory LLC increased its position in shares of Extra Space Storage by 68.1% in the 3rd quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 126 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EXR has been the topic of several recent analyst reports. Truist Financial lifted their target price on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Wells Fargo & Company reiterated an “equal weight” rating and set a $175.00 price objective on shares of Extra Space Storage in a report on Monday, October 21st. Barclays decreased their price objective on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a research report 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 target price on the stock in a report on Friday, January 10th. Finally, StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $174.00.

Extra Space Storage Stock Down 1.7 %

Extra Space Storage stock opened at $154.84 on Thursday. Extra Space Storage Inc. has a fifty-two week low of $131.02 and a fifty-two week high of $184.87. The firm has a market capitalization of $32.82 billion, a PE ratio of 40.53, a P/E/G ratio of 7.77 and a beta of 0.91. The company’s 50-day moving average is $152.64 and its 200-day moving average is $164.12. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $6.48 annualized dividend and a dividend yield of 4.18%. Extra Space Storage’s dividend payout ratio is currently 169.63%.

Insider Activity at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the completion of the sale, the chief executive officer now owns 16,690 shares in the company, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Diane Olmstead sold 3,081 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $164.56, for a total transaction of $507,009.36. Following the completion of the transaction, the director now owns 5,877 shares in the company, valued at approximately $967,119.12. This trade represents a 34.39 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is owned by company insiders.

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.