1,781 Shares in Extra Space Storage Inc (NYSE:EXR) Purchased by Segment Wealth Management LLC

Segment Wealth Management LLC acquired a new stake in Extra Space Storage Inc (NYSE:EXR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,781 shares of the real estate investment trust's stock, valued at approximately $264,000.

Other large investors also recently bought and sold shares of the company. Harbour Investments Inc. increased its position in shares of Extra Space Storage by 90.9% during the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 80 shares during the last quarter. Quarry LP increased its holdings in Extra Space Storage by 156.1% in the 4th quarter. Quarry LP now owns 356 shares of the real estate investment trust's stock valued at $53,000 after purchasing an additional 217 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in Extra Space Storage in the fourth quarter valued at approximately $54,000. Parvin Asset Management LLC purchased a new stake in Extra Space Storage in the fourth quarter valued at approximately $62,000. Finally, Lindbrook Capital LLC lifted its stake in Extra Space Storage by 14.9% during the fourth quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust's stock worth $78,000 after purchasing an additional 68 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Analysts Set New Price Targets

EXR has been the topic of several research analyst reports. Bank of America boosted their price objective on Extra Space Storage from $155.00 to $161.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Barclays cut their price target on shares of Extra Space Storage from $181.00 to $178.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. The Goldman Sachs Group reissued a "buy" rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Royal Bank Of Canada dropped their price objective on shares of Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating for the company in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of Extra Space Storage from $160.00 to $162.00 and gave the company a "neutral" rating in a research report on Friday, June 13th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $159.54.

Extra Space Storage Trading Down 0.3%

NYSE EXR opened at $146.06 on Friday. Extra Space Storage Inc has a 52 week low of $121.03 and a 52 week high of $184.87. The firm has a 50 day moving average of $146.71 and a two-hundred day moving average of $149.09. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $30.99 billion, a PE ratio of 33.89, a price-to-earnings-growth ratio of 3.56 and a beta of 1.11.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.04. The business had revenue of $820.00 million during the quarter, compared to analysts' expectations of $705.12 million. Extra Space Storage had a net margin of 27.84% and a return on equity of 6.11%. The company's revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.96 EPS. As a group, research analysts expect that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.44%. The ex-dividend date is Monday, June 16th. Extra Space Storage's dividend payout ratio (DPR) is presently 150.35%.

Insider Transactions at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total value of $1,105,875.00. Following the completion of the transaction, the chief executive officer now directly owns 9,190 shares of the company's stock, valued at $1,355,065.50. This represents a 44.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.96% of the company's stock.

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.

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