Inceptionr LLC Makes New $463,000 Investment in Extra Space Storage Inc. (NYSE:EXR)

Inceptionr LLC bought a new position in shares of Extra Space Storage Inc. (NYSE:EXR) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,098 shares of the real estate investment trust’s stock, valued at approximately $463,000.

Several other institutional investors and hedge funds have also made changes to their positions in EXR. Golden State Wealth Management LLC bought a new stake in shares of Extra Space Storage during the fourth quarter worth $25,000. Ashton Thomas Securities LLC bought a new stake in shares of Extra Space Storage during the third quarter worth $33,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Extra Space Storage during the third quarter worth $42,000. Quent Capital LLC lifted its position in shares of Extra Space Storage by 89.0% during the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 154 shares during the last quarter. Finally, Asset Planning Inc bought a new stake in shares of Extra Space Storage during the fourth quarter worth $52,000. 99.11% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP William N. Springer sold 1,220 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following the sale, the executive vice president now owns 20,158 shares in the company, valued at approximately $3,077,320.28. The trade was a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the sale, the chief executive officer now owns 16,690 shares in the company, valued at $2,470,286.90. The trade was a 31.00 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on EXR shares. Barclays decreased their target price on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday. Truist Financial lifted their price objective on Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Scotiabank decreased their price objective on Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating for the company in a report on Wednesday. Finally, Wells Fargo & Company decreased their price objective on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a report on Friday, February 21st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Extra Space Storage currently has a consensus rating of “Hold” and an average target price of $171.36.

Extra Space Storage Stock Performance

Shares of Extra Space Storage stock opened at $157.11 on Friday. The company has a market capitalization of $33.31 billion, a PE ratio of 41.13, a P/E/G ratio of 7.76 and a beta of 0.90. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The company has a 50-day simple moving average of $152.91 and a two-hundred day simple moving average of $163.02. Extra Space Storage Inc. has a one year low of $131.02 and a one year high of $184.87.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.93. The business had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. Research analysts expect that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $1.62 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.12%. Extra Space Storage’s dividend payout ratio is presently 160.40%.

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.