Oak Thistle LLC Acquires 5,680 Shares of Extra Space Storage Inc (NYSE:EXR)

Oak Thistle LLC raised its stake in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 213.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,344 shares of the real estate investment trust's stock after purchasing an additional 5,680 shares during the period. Oak Thistle LLC's holdings in Extra Space Storage were worth $1,239,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of Extra Space Storage by 28.3% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 643,139 shares of the real estate investment trust's stock valued at $95,500,000 after buying an additional 141,912 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Extra Space Storage in the 1st quarter valued at about $1,472,000. Choreo LLC grew its stake in shares of Extra Space Storage by 166.5% in the 1st quarter. Choreo LLC now owns 8,734 shares of the real estate investment trust's stock valued at $1,297,000 after buying an additional 5,457 shares during the period. Ignite Planners LLC boosted its stake in Extra Space Storage by 33.9% during the 1st quarter. Ignite Planners LLC now owns 6,381 shares of the real estate investment trust's stock valued at $946,000 after purchasing an additional 1,616 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in Extra Space Storage by 34.2% during the 1st quarter. Allianz Asset Management GmbH now owns 226,235 shares of the real estate investment trust's stock valued at $33,594,000 after purchasing an additional 57,612 shares during the last quarter. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Trading Up 0.2%

NYSE EXR traded up $0.32 during trading on Friday, hitting $150.83. 866,679 shares of the company's stock traded hands, compared to its average volume of 1,052,046. The stock has a fifty day moving average of $149.12 and a two-hundred day moving average of $148.43. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.33 and a quick ratio of 0.33. Extra Space Storage Inc has a 12-month low of $121.03 and a 12-month high of $184.87. The firm has a market cap of $32.01 billion, a P/E ratio of 35.00, a PEG ratio of 3.66 and a beta of 1.10.

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

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a dividend of $1.62 per share. The ex-dividend date was Monday, June 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.30%. Extra Space Storage's dividend payout ratio is currently 150.35%.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $150.35, for a total transaction of $1,127,625.00. Following the completion of the sale, the chief executive officer directly owned 27,260 shares in the company, valued at approximately $4,098,541. This represents a 21.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.96% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on EXR shares. Wall Street Zen upgraded Extra Space Storage from a "sell" rating to a "hold" rating in a research note on Wednesday, April 30th. Benchmark cut their target price on Extra Space Storage from $61.00 to $55.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Scotiabank boosted their target price on shares of Extra Space Storage from $149.00 to $166.00 and gave the company a "sector outperform" rating in a report on Monday, May 12th. Evercore ISI boosted their target price on shares of Extra Space Storage from $144.00 to $149.00 and gave the company an "in-line" rating in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. boosted their target price 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. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Extra Space Storage currently has a consensus rating of "Hold" and an average price target of $157.69.

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.