Capital Square LLC Has $1.46 Million Stake in Extra Space Storage Inc. (NYSE:EXR)

Capital Square LLC boosted its holdings in Extra Space Storage Inc. (NYSE:EXR) by 6.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,110 shares of the real estate investment trust’s stock after purchasing an additional 478 shares during the quarter. Capital Square LLC’s holdings in Extra Space Storage were worth $1,461,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Harvest Fund Management Co. Ltd bought a new stake in shares of Extra Space Storage during the third quarter worth about $42,000. Fisher Asset Management LLC increased its holdings in Extra Space Storage by 0.5% during the 3rd quarter. Fisher Asset Management LLC now owns 59,231 shares of the real estate investment trust’s stock worth $10,673,000 after purchasing an additional 308 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Extra Space Storage by 10.4% in the third quarter. Daiwa Securities Group Inc. now owns 2,020,459 shares of the real estate investment trust’s stock worth $364,066,000 after purchasing an additional 189,949 shares during the last quarter. Swedbank AB lifted its holdings in shares of Extra Space Storage by 4.5% in the third quarter. Swedbank AB now owns 243,130 shares of the real estate investment trust’s stock valued at $43,810,000 after purchasing an additional 10,408 shares in the last quarter. Finally, Penserra Capital Management LLC lifted its holdings in shares of Extra Space Storage by 11.7% in the third quarter. Penserra Capital Management LLC now owns 13,784 shares of the real estate investment trust’s stock valued at $2,483,000 after purchasing an additional 1,449 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insider Transactions at Extra Space Storage

In related news, Director Diane Olmstead sold 3,081 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were 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 owns 5,877 shares of the company’s stock, valued at approximately $967,119.12. The trade was 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 accessible through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm’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 completion of the transaction, the chief executive officer now directly owns 24,190 shares of the company’s stock, valued at approximately $4,318,398.80. The trade was a 23.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,228 shares of company stock valued at $3,374,617 over the last three months. Company insiders own 1.36% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on EXR. Jefferies Financial Group upgraded Extra Space Storage from a “hold” rating to a “buy” rating and upped their price target for the stock from $162.00 to $204.00 in a report on Wednesday, September 18th. KeyCorp raised their price target on shares of Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Evercore ISI cut their price target on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a report on Monday, October 14th. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada started coverage on Extra Space Storage in a research note on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 target price on the stock. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $171.50.

Extra Space Storage Stock Performance

Shares of EXR traded up $3.41 during mid-day trading on Monday, hitting $171.55. The stock had a trading volume of 25,385 shares, compared to its average volume of 1,026,262. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The firm has a market cap of $36.37 billion, a P/E ratio of 44.02, a PEG ratio of 8.47 and a beta of 0.87. Extra Space Storage Inc. has a 52 week low of $125.82 and a 52 week high of $184.87. The business has a fifty day moving average price of $170.44 and a 200-day moving average price of $163.68.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business had revenue of $824.80 million for the quarter, compared to the consensus estimate of $826.93 million. During the same quarter in the prior year, the business earned $2.02 EPS. Extra Space Storage’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities research analysts expect that Extra Space Storage Inc. will post 8.09 EPS for the current year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $6.48 annualized dividend and a dividend yield of 3.78%. Extra Space Storage’s dividend payout ratio is currently 169.63%.

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.