Blair William & Co. IL Purchases New Shares in Extra Space Storage Inc. (NYSE:EXR)

Blair William & Co. IL purchased a new stake in shares of Extra Space Storage Inc. (NYSE:EXR) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,424 shares of the real estate investment trust’s stock, valued at approximately $221,000.

A number of other hedge funds also recently bought and sold shares of EXR. Boston Partners purchased a new stake in Extra Space Storage during the first quarter valued at $130,554,000. Capital Research Global Investors raised its stake in shares of Extra Space Storage by 111.4% in the fourth quarter. Capital Research Global Investors now owns 1,537,317 shares of the real estate investment trust’s stock valued at $246,478,000 after acquiring an additional 810,158 shares during the period. Janus Henderson Group PLC raised its stake in shares of Extra Space Storage by 2,244.2% in the first quarter. Janus Henderson Group PLC now owns 597,729 shares of the real estate investment trust’s stock valued at $87,824,000 after acquiring an additional 572,231 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Extra Space Storage by 43.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,557,135 shares of the real estate investment trust’s stock valued at $228,899,000 after acquiring an additional 473,559 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Extra Space Storage by 25.8% in the fourth quarter. Wellington Management Group LLP now owns 2,199,347 shares of the real estate investment trust’s stock valued at $352,621,000 after acquiring an additional 451,242 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the transaction, the chief executive officer now directly owns 31,690 shares of the company’s stock, valued at $4,835,260.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $152.58, for a total value of $1,144,350.00. Following the completion of the sale, the chief executive officer now owns 31,690 shares of the company’s stock, valued at $4,835,260.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kenneth M. Woolley sold 6,647 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $177.23, for a total transaction of $1,178,047.81. Following the transaction, the director now owns 404,306 shares in the company, valued at approximately $71,655,152.38. The disclosure for this sale can be found here. Insiders sold a total of 18,970 shares of company stock worth $3,172,757 over the last three months. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Up 0.4 %

Shares of Extra Space Storage stock opened at $177.23 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.20 and a quick ratio of 0.20. Extra Space Storage Inc. has a 1 year low of $101.19 and a 1 year high of $184.87. The firm’s 50-day moving average is $171.25 and its two-hundred day moving average is $155.65. The stock has a market cap of $37.52 billion, a price-to-earnings ratio of 39.47, a PEG ratio of 2.67 and a beta of 0.86.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $1.62 per share. The ex-dividend date is Monday, September 16th. This represents a $6.48 dividend on an annualized basis and a yield of 3.66%. Extra Space Storage’s payout ratio is 144.32%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on EXR shares. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group raised shares of Extra Space Storage from a “hold” rating to a “buy” rating and increased their target price for the company from $162.00 to $204.00 in a research note on Wednesday, September 18th. Wells Fargo & Company increased their target price on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Evercore ISI raised their price target on shares of Extra Space Storage from $167.00 to $170.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Finally, Truist Financial raised their price target on shares of Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $170.93.

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.