Extra Space Storage Inc (NYSE:EXR) Shares Bought by CHURCHILL MANAGEMENT Corp

CHURCHILL MANAGEMENT Corp grew its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 6.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 61,928 shares of the real estate investment trust's stock after buying an additional 3,679 shares during the period. CHURCHILL MANAGEMENT Corp's holdings in Extra Space Storage were worth $9,196,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Harbour Investments Inc. raised its stake 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 valued at $25,000 after acquiring an additional 80 shares during the last quarter. Quarry LP lifted its holdings in shares of Extra Space Storage by 156.1% during the fourth quarter. Quarry LP now owns 356 shares of the real estate investment trust's stock worth $53,000 after purchasing an additional 217 shares during the period. Golden State Wealth Management LLC grew its position in Extra Space Storage by 147.0% in the 1st quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust's stock valued at $60,000 after buying an additional 241 shares during the last quarter. Parvin Asset Management LLC acquired a new position in Extra Space Storage in the 4th quarter valued at $62,000. Finally, Lindbrook Capital LLC raised its position in Extra Space Storage by 14.9% during the 4th quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust's stock worth $78,000 after buying an additional 68 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on EXR. The Goldman Sachs Group reissued a "buy" rating on shares of Extra Space Storage in a report on Thursday, March 6th. Benchmark reduced their price target on Extra Space Storage from $61.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Bank of America lifted their price target on Extra Space Storage from $155.00 to $161.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. BNP Paribas Exane assumed coverage on Extra Space Storage in a research report on Tuesday, June 24th. They issued a "neutral" rating and a $156.00 price objective for the company. Finally, Mizuho raised their target price on Extra Space Storage from $141.00 to $153.00 and gave the company an "outperform" rating in a report on Wednesday, May 28th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $159.29.

Extra Space Storage Price Performance

Shares of NYSE EXR opened at $147.44 on Tuesday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.85. The stock has a market cap of $31.29 billion, a price-to-earnings ratio of 34.21, a PEG ratio of 3.54 and a beta of 1.11. The company's 50-day moving average price is $147.68 and its 200 day moving average price is $148.30. 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 data on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share for the quarter, topping analysts' consensus estimates 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 was up 2.6% on a year-over-year basis. During the same period last year, the company posted $1.96 EPS. As a group, research analysts forecast that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date was 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.

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