Pathway Financial Advisers LLC Purchases 2,007,626 Shares of Extra Space Storage Inc. (NYSE:EXR)

Pathway Financial Advisers LLC lifted its position in Extra Space Storage Inc. (NYSE:EXR) by 17,832.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,018,884 shares of the real estate investment trust’s stock after purchasing an additional 2,007,626 shares during the quarter. Extra Space Storage comprises about 2.3% of Pathway Financial Advisers LLC’s holdings, making the stock its 10th biggest holding. Pathway Financial Advisers LLC’s holdings in Extra Space Storage were worth $363,783,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EXR. Forsta AP Fonden raised its position in Extra Space Storage by 9.0% in the third quarter. Forsta AP Fonden now owns 42,300 shares of the real estate investment trust’s stock valued at $7,622,000 after purchasing an additional 3,500 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Extra Space Storage by 18.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,052 shares of the real estate investment trust’s stock valued at $5,858,000 after acquiring an additional 5,199 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Extra Space Storage by 34.8% during the third quarter. Assenagon Asset Management S.A. now owns 3,985 shares of the real estate investment trust’s stock worth $718,000 after purchasing an additional 1,028 shares in the last quarter. CENTRAL TRUST Co raised its holdings in Extra Space Storage by 64.3% in the third quarter. CENTRAL TRUST Co now owns 930 shares of the real estate investment trust’s stock valued at $168,000 after acquiring an additional 364 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Extra Space Storage in the third quarter worth approximately $30,293,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on EXR. Wells Fargo & Company reissued an “equal weight” rating and issued a $175.00 price objective on shares of Extra Space Storage in a research report on Monday, October 21st. Scotiabank lifted their price target on 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 Extra Space Storage from a “hold” rating to a “buy” rating and increased their price objective for the company from $162.00 to $204.00 in a report on Wednesday, September 18th. Truist Financial boosted their target price on Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Finally, KeyCorp increased their price target on shares of Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a research note 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 given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $170.80.

Extra Space Storage Stock Performance

Shares of EXR stock traded down $1.88 during midday trading on Friday, hitting $166.40. The company had a trading volume of 462,136 shares, compared to its average volume of 1,037,437. The stock has a market cap of $35.23 billion, a price-to-earnings ratio of 37.06, a PEG ratio of 6.47 and a beta of 0.86. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.20 and a quick ratio of 0.20. The company’s 50 day simple moving average is $174.56 and its 200 day simple moving average is $159.63. Extra Space Storage Inc. has a 52-week low of $101.19 and a 52-week high of $184.87.

Extra Space Storage Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 3.89%. Extra Space Storage’s dividend payout ratio is currently 144.32%.

Insiders Place Their Bets

In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated 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 sale, the chief executive officer now owns 24,190 shares of the company’s stock, valued at $4,318,398.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the completion of the transaction, the chief executive officer now directly owns 24,190 shares of the company’s stock, valued at approximately $4,318,398.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kenneth M. Woolley sold 6,647 shares of Extra Space Storage stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $177.23, for a total value of $1,178,047.81. Following the completion of the sale, the director now owns 404,306 shares in the company, valued at approximately $71,655,152.38. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,970 shares of company stock worth $3,367,307. 1.36% of the stock is owned by 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.