67,186 Shares in Extra Space Storage Inc (NYSE:EXR) Purchased by Brookstone Capital Management

Brookstone Capital Management purchased a new position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 67,186 shares of the real estate investment trust's stock, valued at approximately $9,977,000.

Other hedge funds also recently modified their holdings of the company. QRG Capital Management Inc. increased its stake in shares of Extra Space Storage by 21.4% in the 1st quarter. QRG Capital Management Inc. now owns 2,684 shares of the real estate investment trust's stock valued at $399,000 after acquiring an additional 474 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Extra Space Storage by 24.3% in the 1st quarter. Farther Finance Advisors LLC now owns 1,464 shares of the real estate investment trust's stock valued at $216,000 after acquiring an additional 286 shares in the last quarter. CX Institutional bought a new stake in shares of Extra Space Storage in the 1st quarter valued at $127,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Extra Space Storage by 44.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 22,593 shares of the real estate investment trust's stock valued at $3,355,000 after acquiring an additional 6,964 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its stake in shares of Extra Space Storage by 55.6% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 198,515 shares of the real estate investment trust's stock valued at $29,478,000 after acquiring an additional 70,965 shares in the last quarter. Institutional investors own 99.11% of the company's stock.

Extra Space Storage Stock Up 0.6%

EXR traded up $0.99 during mid-day trading on Friday, reaching $152.77. 835,966 shares of the stock were exchanged, compared to its average volume of 1,064,697. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.33 and a current ratio of 0.33. The stock has a market capitalization of $32.42 billion, a PE ratio of 35.44, a price-to-earnings-growth ratio of 3.71 and a beta of 1.10. The company has a 50 day moving average price of $148.50 and a two-hundred day moving average price of $148.31. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $820.00 million for the quarter, compared to the consensus estimate 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 previous year, the firm earned $1.96 EPS. As a group, research analysts anticipate that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date was Monday, June 16th. Extra Space Storage's dividend payout ratio (DPR) is currently 150.35%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EXR. Scotiabank lifted their price objective on shares of Extra Space Storage from $149.00 to $166.00 and gave the company a "sector outperform" rating in a research note on Monday, May 12th. Mizuho lifted their price objective on shares of Extra Space Storage from $141.00 to $153.00 and gave the company an "outperform" rating in a research note on Wednesday, May 28th. Wall Street Zen upgraded shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research note on Wednesday, April 30th. Royal Bank Of Canada decreased their price target on shares of Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating for the company in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. boosted 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 note on Friday, June 13th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $159.29.

Insider Buying and Selling at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $150.35, for a total value of $1,127,625.00. Following the transaction, the chief executive officer directly owned 27,260 shares of the company's stock, valued at approximately $4,098,541. The trade was a 21.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.36% of the company's stock.

Extra Space Storage 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.