Pathway Financial Advisers LLC Has $1.68 Million Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Pathway Financial Advisers LLC cut its holdings in Extra Space Storage Inc. (NYSE:EXR) by 99.4% during the 4th quarter, HoldingsChannel reports. The fund owned 11,250 shares of the real estate investment trust’s stock after selling 2,007,634 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Extra Space Storage were worth $1,683,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in Extra Space Storage in the 4th quarter valued at about $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of Extra Space Storage in the third quarter valued at approximately $33,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Extra Space Storage in the third quarter valued at approximately $42,000. Quent Capital LLC boosted its stake in shares of Extra Space Storage by 89.0% in the fourth 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 grew its position in Extra Space Storage by 68.1% during the third quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 126 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

Insider Buying and Selling at Extra Space Storage

In other 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the completion of the transaction, the chief executive officer now owns 16,690 shares in the company, valued at $2,470,286.90. This trade represents a 31.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Performance

Shares of EXR stock opened at $154.84 on Thursday. The firm has a market capitalization of $32.82 billion, a price-to-earnings ratio of 40.53, a PEG ratio of 7.77 and a beta of 0.91. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The business’s 50-day moving average price is $152.64 and its 200-day moving average price is $164.12. Extra Space Storage Inc. has a 12 month low of $131.02 and a 12 month high of $184.87.

Extra Space Storage Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $175.00 price target on shares of Extra Space Storage in a research note on Monday, October 21st. Truist Financial boosted their price target on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Barclays reduced their price objective on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Finally, Scotiabank raised Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 target price for the company in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Extra Space Storage presently has a consensus rating of “Hold” and a consensus target price of $174.00.

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.