Gallacher Capital Management LLC Sells 630 Shares of Extra Space Storage Inc. (NYSE:EXR)

Gallacher Capital Management LLC lowered its position in Extra Space Storage Inc. (NYSE:EXR) by 8.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,284 shares of the real estate investment trust’s stock after selling 630 shares during the period. Extra Space Storage accounts for about 0.7% of Gallacher Capital Management LLC’s holdings, making the stock its 24th biggest position. Gallacher Capital Management LLC’s holdings in Extra Space Storage were worth $1,168,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in EXR. Vanguard Group Inc. lifted its stake in shares of Extra Space Storage by 55.7% in the third quarter. Vanguard Group Inc. now owns 33,686,341 shares of the real estate investment trust’s stock valued at $4,095,585,000 after buying an additional 12,055,172 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Extra Space Storage by 599.8% in the third quarter. JPMorgan Chase & Co. now owns 3,345,787 shares of the real estate investment trust’s stock valued at $406,781,000 after buying an additional 2,867,657 shares in the last quarter. Diamond Hill Capital Management Inc. bought a new position in shares of Extra Space Storage in the third quarter valued at $173,621,000. First Eagle Investment Management LLC lifted its stake in shares of Extra Space Storage by 233,362.8% in the third quarter. First Eagle Investment Management LLC now owns 1,323,734 shares of the real estate investment trust’s stock valued at $160,940,000 after buying an additional 1,323,167 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Extra Space Storage by 22.1% in the third quarter. Principal Financial Group Inc. now owns 6,505,834 shares of the real estate investment trust’s stock valued at $790,975,000 after buying an additional 1,178,760 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insider Buying and Selling

In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $145.00, for a total value of $195,750.00. Following the completion of the transaction, the executive vice president now directly owns 37,028 shares of the company’s stock, valued at $5,369,060. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Extra Space Storage news, CMO Samrat Sondhi sold 2,048 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $146.46, for a total transaction of $299,950.08. Following the completion of the transaction, the chief marketing officer now owns 94,126 shares of the company’s stock, valued at $13,785,693.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the transaction, the executive vice president now directly owns 37,028 shares of the company’s stock, valued at approximately $5,369,060. The disclosure for this sale can be found here. Insiders sold a total of 3,532 shares of company stock valued at $514,819 over the last three months. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Price Performance

Shares of EXR stock traded up $2.08 during trading hours on Friday, hitting $141.87. 969,162 shares of the company’s stock were exchanged, compared to its average volume of 1,172,821. The company has a market capitalization of $30.02 billion, a PE ratio of 31.60, a PEG ratio of 3.48 and a beta of 0.76. Extra Space Storage Inc. has a 12-month low of $101.19 and a 12-month high of $164.99. The business’s 50 day simple moving average is $141.56 and its 200-day simple moving average is $139.00. The company has a current ratio of 0.15, a quick ratio of 0.30 and a debt-to-equity ratio of 0.73.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.01). The firm had revenue of $797.77 million during the quarter, compared to the consensus estimate of $778.05 million. Extra Space Storage had a return on equity of 6.76% and a net margin of 29.10%. Extra Space Storage’s revenue was up 57.4% on a year-over-year basis. During the same period last year, the business earned $2.09 EPS. On average, equities research analysts anticipate that Extra Space Storage Inc. will post 8.05 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date was Thursday, March 14th. Extra Space Storage’s payout ratio is currently 144.32%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EXR. Raymond James restated an “outperform” rating and set a $160.00 price objective on shares of Extra Space Storage in a report on Thursday, March 28th. The Goldman Sachs Group raised their price objective on shares of Extra Space Storage from $168.00 to $187.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Barclays initiated coverage on shares of Extra Space Storage in a report on Wednesday, March 27th. They set an “overweight” rating and a $157.00 price objective for the company. Wells Fargo & Company raised their price objective on shares of Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Finally, Scotiabank initiated coverage on shares of Extra Space Storage in a report on Tuesday, February 13th. They set a “sector underperform” rating and a $131.00 price objective for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Extra Space Storage presently has a consensus rating of “Hold” and a consensus target price of $149.67.

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.