Pallas Capital Advisors LLC Sells 230 Shares of Extra Space Storage Inc. (NYSE:EXR)

Pallas Capital Advisors LLC decreased its position in Extra Space Storage Inc. (NYSE:EXR) by 3.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,327 shares of the real estate investment trust’s stock after selling 230 shares during the period. Pallas Capital Advisors LLC’s holdings in Extra Space Storage were worth $1,233,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. EdgeRock Capital LLC bought a new stake in shares of Extra Space Storage during the second quarter valued at approximately $25,000. Centerpoint Advisors LLC purchased a new stake in Extra Space Storage during the 2nd quarter valued at $27,000. Blue Trust Inc. increased its holdings in shares of 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 purchasing an additional 200 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Extra Space Storage by 2,760.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 276 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Extra Space Storage by 19.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 76 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

Insider Activity

In other Extra Space Storage news, EVP William N. Springer sold 2,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total value of $350,660.00. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $177.01, for a total transaction of $499,699.23. Following the completion of the transaction, the executive vice president now owns 32,855 shares in the company, valued at $5,815,663.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP William N. Springer sold 2,000 shares of the firm’s 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 directly owns 11,919 shares of the company’s stock, valued at approximately $2,089,758.27. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,970 shares of company stock worth $3,367,307 in the last three months. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Trading Down 1.1 %

Shares of NYSE:EXR opened at $165.62 on Wednesday. The stock has a 50 day moving average of $174.46 and a 200 day moving average of $160.15. The company has a market cap of $35.07 billion, a PE ratio of 36.89, a price-to-earnings-growth ratio of 6.25 and a beta of 0.86. Extra Space Storage Inc. has a 12-month low of $101.19 and a 12-month high of $184.87. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.76.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $1.62 dividend. The ex-dividend date was Monday, September 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.91%. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.32%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on EXR shares. Raymond James lifted their price objective on Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Jefferies Financial Group raised shares of Extra Space Storage from a “hold” rating to a “buy” rating and boosted their price objective for the company from $162.00 to $204.00 in a report on Wednesday, September 18th. Barclays raised their target price on shares of Extra Space Storage from $188.00 to $192.00 and gave the stock an “overweight” rating in a report on Monday. Royal Bank of Canada assumed coverage on shares of 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, Bank of America downgraded Extra Space Storage from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $172.00 to $155.00 in a research note on Monday, August 5th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Extra Space Storage has a consensus rating of “Hold” and an average target price of $171.07.

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.