Extra Space Storage Inc (NYSE:EXR) Shares Acquired by Alta Capital Management LLC

Alta Capital Management LLC lifted its stake in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,009 shares of the real estate investment trust's stock after acquiring an additional 1,907 shares during the period. Alta Capital Management LLC's holdings in Extra Space Storage were worth $4,308,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of EXR. Principal Securities Inc. raised its holdings in shares of Extra Space Storage by 16.5% during the 4th quarter. Principal Securities Inc. now owns 3,034 shares of the real estate investment trust's stock worth $454,000 after acquiring an additional 429 shares during the period. Sanctuary Advisors LLC raised its holdings in shares of Extra Space Storage by 7.1% during the 4th quarter. Sanctuary Advisors LLC now owns 19,790 shares of the real estate investment trust's stock worth $3,062,000 after acquiring an additional 1,310 shares during the period. CIBC Asset Management Inc raised its holdings in shares of Extra Space Storage by 4.5% during the 4th quarter. CIBC Asset Management Inc now owns 32,279 shares of the real estate investment trust's stock worth $4,829,000 after acquiring an additional 1,402 shares during the period. D.A. Davidson & CO. raised its holdings in shares of Extra Space Storage by 23.8% during the 4th quarter. D.A. Davidson & CO. now owns 1,768 shares of the real estate investment trust's stock worth $264,000 after acquiring an additional 340 shares during the period. Finally, Atria Wealth Solutions Inc. raised its holdings in shares of Extra Space Storage by 21.0% during the 4th quarter. Atria Wealth Solutions Inc. now owns 13,332 shares of the real estate investment trust's stock worth $1,994,000 after acquiring an additional 2,317 shares during the period. Hedge funds and other institutional investors own 99.11% of the company's stock.

Insider Transactions at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total transaction 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 approximately $1,355,065.50. The trade was a 44.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.36% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Evercore ISI lifted their price target on Extra Space Storage from $144.00 to $149.00 and gave the stock an "in-line" rating in a report on Thursday, May 1st. Wall Street Zen upgraded shares of Extra Space Storage from a "sell" rating to a "hold" rating in a report on Wednesday, April 30th. The Goldman Sachs Group restated a "buy" rating on shares of Extra Space Storage in a report on Thursday, March 6th. JPMorgan Chase & Co. boosted their price objective on shares of Extra Space Storage from $160.00 to $162.00 and gave the company a "neutral" rating in a report on Friday, June 13th. Finally, Mizuho boosted their price objective on shares of Extra Space Storage from $141.00 to $153.00 and gave the company an "outperform" rating in a report on Wednesday, May 28th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $159.54.

Extra Space Storage Trading Up 2.1%

NYSE:EXR traded up $3.09 on Monday, reaching $149.16. 993,290 shares of the company's stock were exchanged, compared to its average volume of 1,054,171. 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 firm has a market capitalization of $31.65 billion, a price-to-earnings ratio of 34.61, a price-to-earnings-growth ratio of 3.55 and a beta of 1.11. The business has a fifty day moving average of $146.94 and a 200-day moving average of $148.78. Extra Space Storage Inc has a 52-week low of $121.03 and a 52-week high of $184.87.

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

Extra Space Storage Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date is Monday, June 16th. Extra Space Storage's dividend payout ratio is presently 150.35%.

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.