Donaldson Capital Management LLC Grows Holdings in Extra Space Storage Inc. (NYSE:EXR)

Donaldson Capital Management LLC lifted its stake in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 3.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 297,180 shares of the real estate investment trust's stock after acquiring an additional 9,224 shares during the period. Extra Space Storage makes up about 1.7% of Donaldson Capital Management LLC's holdings, making the stock its 26th largest holding. Donaldson Capital Management LLC owned 0.14% of Extra Space Storage worth $44,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in EXR. Golden State Wealth Management LLC bought a new stake in shares of Extra Space Storage during the fourth quarter valued at about $25,000. Harbour Investments Inc. increased its holdings in Extra Space Storage by 90.9% during the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 80 shares during the period. Quent Capital LLC lifted its stake in Extra Space Storage by 89.0% in the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust's stock worth $49,000 after purchasing an additional 154 shares in the last quarter. Asset Planning Inc purchased a new stake in Extra Space Storage in the 4th quarter worth approximately $52,000. Finally, Quarry LP boosted its position in shares of Extra Space Storage by 156.1% during the 4th quarter. Quarry LP now owns 356 shares of the real estate investment trust's stock valued at $53,000 after acquiring an additional 217 shares during the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on EXR. JPMorgan Chase & Co. lifted their price objective on shares of Extra Space Storage from $160.00 to $162.00 and gave the stock a "neutral" rating in a report on Friday. Barclays lowered their price target on Extra Space Storage from $181.00 to $178.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Mizuho upped their price objective on Extra Space Storage from $141.00 to $153.00 and gave the stock an "outperform" rating in a report on Wednesday, May 28th. Royal Bank of Canada dropped their target price on Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating for the company in a research report on Thursday, May 1st. Finally, Wall Street Zen upgraded shares of Extra Space Storage from a "sell" rating to a "hold" rating in a report on Wednesday, April 30th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, Extra Space Storage has an average rating of "Moderate Buy" and an average target price of $159.54.

Extra Space Storage Trading Down 0.7%

Extra Space Storage stock traded down $1.04 during trading hours on Friday, reaching $149.47. The stock had a trading volume of 945,917 shares, compared to its average volume of 1,058,587. The company has a fifty day simple moving average of $144.80 and a 200-day simple moving average of $150.04. Extra Space Storage Inc. has a 52 week low of $121.03 and a 52 week high of $184.87. The stock has a market cap of $31.72 billion, a PE ratio of 39.13, a PEG ratio of 7.76 and a beta of 1.11. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its earnings results 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. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company had revenue of $820.00 million for the quarter, compared to analysts' expectations of $705.12 million. During the same period last year, the firm earned $1.96 earnings per share. Extra Space Storage's quarterly revenue was up 2.6% on a year-over-year basis. Analysts forecast that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business 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 $1.62 dividend. The ex-dividend date is Monday, June 16th. This represents a $6.48 annualized dividend and a dividend yield of 4.34%. Extra Space Storage's dividend payout ratio is 150.35%.

Insider Activity

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total value of $1,105,875.00. Following the completion of the sale, the chief executive officer now directly owns 9,190 shares in the company, valued at $1,355,065.50. This trade represents a 44.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 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.