Extra Space Storage Inc. (NYSE:EXR) Shares Acquired by Covestor Ltd

Covestor Ltd lifted its position in Extra Space Storage Inc. (NYSE:EXR) by 67.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 592 shares of the real estate investment trust’s stock after purchasing an additional 239 shares during the period. Covestor Ltd’s holdings in Extra Space Storage were worth $87,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Elevatus Welath Management acquired a new position in shares of Extra Space Storage in the first quarter worth about $5,560,000. Cynosure Group LLC purchased a new position in Extra Space Storage during the first quarter worth approximately $329,000. ESL Trust Services LLC acquired a new stake in Extra Space Storage in the first quarter valued at approximately $99,000. Vanguard Group Inc. grew its holdings in Extra Space Storage by 0.5% in the first quarter. Vanguard Group Inc. now owns 33,686,389 shares of the real estate investment trust’s stock valued at $4,951,899,000 after purchasing an additional 170,380 shares during the period. Finally, Cornerstone Advisors LLC purchased a new stake in shares of Extra Space Storage in the first quarter valued at approximately $74,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Evercore ISI increased their target price on Extra Space Storage from $140.00 to $151.00 and gave the company an “in-line” rating in a research report on Monday, July 15th. Barclays lifted their target price on shares of Extra Space Storage from $157.00 to $158.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday. Citigroup decreased their price target on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, June 7th. Finally, Wells Fargo & Company boosted their price objective on Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $156.42.

Extra Space Storage Trading Down 0.3 %

Shares of NYSE EXR traded down $0.42 during trading on Wednesday, hitting $166.06. 255,586 shares of the company were exchanged, compared to its average volume of 1,072,760. The company has a fifty day moving average price of $153.74 and a 200-day moving average price of $147.13. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.15. The firm has a market capitalization of $35.16 billion, a PE ratio of 36.97, a P/E/G ratio of 3.49 and a beta of 0.83. Extra Space Storage Inc. has a 12-month low of $101.19 and a 12-month high of $171.46.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date was Friday, June 14th. Extra Space Storage’s dividend payout ratio is presently 144.32%.

Insider Activity

In related news, Director Joseph J. Bonner sold 677 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $148.22, for a total transaction of $100,344.94. Following the completion of the transaction, the director now owns 5,229 shares of the company’s stock, valued at approximately $775,042.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Joseph J. Bonner sold 677 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $148.22, for a total transaction of $100,344.94. Following the transaction, the director now owns 5,229 shares of the company’s stock, valued at approximately $775,042.38. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $152.58, for a total value of $1,144,350.00. Following the completion of the transaction, the chief executive officer now directly owns 31,690 shares of the company’s stock, valued at $4,835,260.20. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company’s stock.

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.