D.B. Root & Company LLC Acquires New Position in Extra Space Storage Inc. (NYSE:EXR)

D.B. Root & Company LLC bought a new position in shares of Extra Space Storage Inc. (NYSE:EXR) during the fourth quarter, HoldingsChannel.com reports. The firm bought 2,092 shares of the real estate investment trust’s stock, valued at approximately $313,000.

Other hedge funds also recently added to or reduced their stakes in the company. Graypoint LLC raised its stake in shares of Extra Space Storage by 4.3% in the third quarter. Graypoint LLC now owns 1,575 shares of the real estate investment trust’s stock valued at $284,000 after acquiring an additional 65 shares in the last quarter. Wedge Capital Management L L P NC increased its holdings in Extra Space Storage by 1.3% during the 4th quarter. Wedge Capital Management L L P NC now owns 5,138 shares of the real estate investment trust’s stock worth $769,000 after purchasing an additional 68 shares during the period. Hummer Financial Advisory Services Inc raised its position in Extra Space Storage by 1.2% in the 3rd quarter. Hummer Financial Advisory Services Inc now owns 5,920 shares of the real estate investment trust’s stock valued at $1,067,000 after purchasing an additional 70 shares in the last quarter. Buckley Wealth Management LLC boosted its stake in shares of Extra Space Storage by 1.9% in the 3rd quarter. Buckley Wealth Management LLC now owns 3,811 shares of the real estate investment trust’s stock valued at $687,000 after buying an additional 71 shares during the period. Finally, Bleakley Financial Group LLC boosted its stake in shares of Extra Space Storage by 4.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 1,973 shares of the real estate investment trust’s stock valued at $356,000 after buying an additional 77 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, Director Diane Olmstead sold 3,081 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 5,877 shares of the company’s stock, valued at approximately $967,119.12. This trade represents a 34.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.36% of the company’s stock.

Extra Space Storage Trading Down 1.2 %

EXR opened at $150.04 on Thursday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87. The business’s 50 day moving average is $156.73 and its two-hundred day moving average is $164.94. The firm has a market cap of $31.80 billion, a price-to-earnings ratio of 39.28, a price-to-earnings-growth ratio of 7.57 and a beta of 0.91.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business had revenue of $824.80 million during the quarter, compared to analyst estimates of $826.93 million. During the same period in the previous year, the firm earned $2.02 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. On average, research analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $6.48 annualized dividend and a dividend yield of 4.32%. Extra Space Storage’s dividend payout ratio (DPR) is 169.63%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on EXR shares. Barclays reduced their target price on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Scotiabank upgraded shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective on the stock in a report on Friday, January 10th. StockNews.com downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Truist Financial raised their price target on Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Finally, Evercore ISI lowered their price objective on 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $171.25.

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.