Pacer Advisors Inc. Sells 19,340 Shares of Extra Space Storage Inc $EXR

Pacer Advisors Inc. decreased its position in shares of Extra Space Storage Inc (NYSE:EXR) by 12.3% in the 3rd quarter, Holdings Channel reports. The fund owned 138,451 shares of the real estate investment trust’s stock after selling 19,340 shares during the quarter. Pacer Advisors Inc.’s holdings in Extra Space Storage were worth $19,513,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Extra Space Storage in the 2nd quarter valued at about $1,058,303,000. Resolution Capital Ltd increased its stake in shares of Extra Space Storage by 116.2% in the second quarter. Resolution Capital Ltd now owns 1,950,842 shares of the real estate investment trust’s stock worth $287,632,000 after purchasing an additional 1,048,685 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Extra Space Storage by 570.3% in the first quarter. AQR Capital Management LLC now owns 1,124,206 shares of the real estate investment trust’s stock valued at $166,180,000 after purchasing an additional 956,500 shares during the period. Marshall Wace LLP lifted its stake in shares of Extra Space Storage by 60.1% during the 2nd quarter. Marshall Wace LLP now owns 1,477,404 shares of the real estate investment trust’s stock valued at $217,828,000 after buying an additional 554,666 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Extra Space Storage by 321.6% during the 1st quarter. Millennium Management LLC now owns 573,253 shares of the real estate investment trust’s stock valued at $85,122,000 after buying an additional 437,287 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $141.41, for a total transaction of $1,060,575.00. Following the completion of the sale, the chief executive officer directly owned 19,760 shares in the company, valued at $2,794,261.60. The trade was a 27.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.96% of the stock is currently owned by insiders.

Extra Space Storage Trading Up 0.5%

Shares of EXR stock opened at $130.87 on Friday. The company has a market capitalization of $27.78 billion, a PE ratio of 29.21, a price-to-earnings-growth ratio of 2.47 and a beta of 1.27. Extra Space Storage Inc has a 52-week low of $121.03 and a 52-week high of $162.77. The business’s fifty day moving average is $134.32 and its 200 day moving average is $140.96. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.24 and a current ratio of 0.24.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.02. Extra Space Storage had a return on equity of 6.56% and a net margin of 28.40%.The business had revenue of $858.46 million for the quarter, compared to analyst estimates of $736.26 million. During the same period in the prior year, the company earned $2.07 EPS. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. On average, equities research analysts anticipate that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Monday, December 15th. Extra Space Storage’s dividend payout ratio (DPR) is currently 144.64%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on EXR shares. UBS Group lowered their target price on shares of Extra Space Storage from $169.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday, September 16th. Morgan Stanley reduced their price target on Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating for the company in a research report on Friday, December 5th. Truist Financial dropped their price objective on Extra Space Storage from $150.00 to $142.00 and set a “hold” rating on the stock in a report on Tuesday, December 16th. Weiss Ratings restated a “hold (c)” rating on shares of Extra Space Storage in a research note on Wednesday, October 8th. Finally, Evercore ISI reiterated a “cautious” rating on shares of Extra Space Storage in a research report on Monday, November 3rd. Six research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, Extra Space Storage has an average rating of “Hold” and a consensus target price of $147.00.

Extra Space Storage Company Profile

Extra Space Storage (NYSE: EXR) is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.