Heitman Real Estate Securities LLC Has $81.91 Million Holdings in Extra Space Storage Inc. (NYSE:EXR)

Heitman Real Estate Securities LLC reduced its holdings in Extra Space Storage Inc. (NYSE:EXR) by 2.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 454,594 shares of the real estate investment trust’s stock after selling 10,053 shares during the period. Extra Space Storage accounts for approximately 4.5% of Heitman Real Estate Securities LLC’s portfolio, making the stock its 3rd largest position. Heitman Real Estate Securities LLC’s holdings in Extra Space Storage were worth $81,913,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of EXR. Atria Investments Inc grew its position in Extra Space Storage by 11.3% during the first quarter. Atria Investments Inc now owns 8,081 shares of the real estate investment trust’s stock worth $1,188,000 after buying an additional 818 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Extra Space Storage by 658.1% in the 1st quarter. Cetera Investment Advisers now owns 45,450 shares of the real estate investment trust’s stock worth $6,681,000 after purchasing an additional 39,455 shares in the last quarter. Cetera Advisors LLC bought a new position in Extra Space Storage during the 1st quarter valued at approximately $410,000. GAMMA Investing LLC increased its position in Extra Space Storage by 97.3% during the 2nd quarter. GAMMA Investing LLC now owns 2,074 shares of the real estate investment trust’s stock valued at $322,000 after buying an additional 1,023 shares in the last quarter. Finally, First Hawaiian Bank purchased a new position in shares of Extra Space Storage in the 2nd quarter worth $437,000. Institutional investors own 99.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on EXR shares. Evercore ISI reduced their price target on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a research report on Monday, October 14th. Scotiabank cut their target price on Extra Space Storage from $169.00 to $167.00 and set a “sector underperform” rating on the stock in a research report on Monday, November 25th. Barclays upped their price objective on Extra Space Storage from $188.00 to $192.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Royal Bank of Canada started coverage on Extra Space Storage in a research note on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 target price for the company. Finally, KeyCorp lifted their target price on Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $171.36.

Insider Transactions at Extra Space Storage

In related news, Director Diane Olmstead sold 3,081 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was 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 directly owns 5,877 shares in the company, valued at $967,119.12. This trade represents a 34.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 sale, 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 23.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,228 shares of company stock worth $3,023,957 over the last quarter. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Down 0.8 %

NYSE:EXR opened at $169.66 on Tuesday. The company’s 50-day simple moving average is $169.37 and its 200-day simple moving average is $164.64. 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 $131.02 and a fifty-two week high of $184.87. The stock has a market capitalization of $35.96 billion, a P/E ratio of 44.41, a P/E/G ratio of 8.60 and a beta of 0.89.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). The firm had revenue of $824.80 million during the quarter, compared to analyst estimates of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.02 EPS. On average, equities 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 disclosed 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 of this dividend is Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a yield of 3.82%. Extra Space Storage’s dividend payout ratio (DPR) 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.