Symphony Financial Ltd. Co. Reduces Holdings in Extra Space Storage Inc. (NYSE:EXR)

Symphony Financial Ltd. Co. trimmed its stake in Extra Space Storage Inc. (NYSE:EXR) by 2.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,972 shares of the real estate investment trust’s stock after selling 230 shares during the period. Symphony Financial Ltd. Co.’s holdings in Extra Space Storage were worth $1,590,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. EdgeRock Capital LLC bought a new stake in shares of Extra Space Storage in the second quarter worth approximately $25,000. Centerpoint Advisors LLC bought a new stake in Extra Space Storage during the second quarter valued at approximately $27,000. Blue Trust Inc. grew its position in Extra Space Storage by 540.5% during the second quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 200 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in Extra Space Storage by 2,760.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 276 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its position in 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 buying an additional 76 shares during the period. 99.11% of the stock is owned by hedge funds and other institutional investors.

Extra Space Storage Price Performance

EXR stock opened at $166.18 on Wednesday. Extra Space Storage Inc. has a one year low of $101.19 and a one year high of $184.87. The company’s fifty day moving average price is $174.49 and its 200-day moving average price is $159.38. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.20 and a current ratio of 0.20. The company has a market capitalization of $35.18 billion, a PE ratio of 37.01, a price-to-earnings-growth ratio of 6.47 and a beta of 0.86.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date was Monday, September 16th. Extra Space Storage’s payout ratio is 144.32%.

Insider Activity at Extra Space Storage

In related news, EVP William N. Springer sold 2,000 shares of the company’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 sale, the executive vice president now owns 11,919 shares of the company’s stock, valued at $2,089,758.27. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the transaction, the chief executive officer now owns 24,190 shares in the company, valued at $4,318,398.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP William N. Springer sold 2,000 shares of the business’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 transaction, the executive vice president now owns 11,919 shares in the company, valued at $2,089,758.27. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,970 shares of company stock valued at $3,367,307 over the last 90 days. 1.36% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on EXR shares. Royal Bank of Canada started coverage on shares of Extra Space Storage in a research report on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 target price for the company. Truist Financial boosted their target price on shares of Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Evercore ISI cut their target price 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 boosted their target price on shares of Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a research report on Thursday, August 22nd. Finally, StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Extra Space Storage has an average rating of “Hold” and an average target price of $170.80.

Extra Space Storage 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.