Extra Space Storage Inc (NYSE:EXR) Holdings Lowered by Hartline Investment Corp

Hartline Investment Corp decreased its position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 23.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 5,276 shares of the real estate investment trust's stock after selling 1,648 shares during the period. Hartline Investment Corp's holdings in Extra Space Storage were worth $783,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of EXR. Harbour Investments Inc. raised its stake in Extra Space Storage by 90.9% during the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 80 shares during the period. Quarry LP raised its stake in 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 raised its stake in Extra Space Storage by 147.0% during the first quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust's stock worth $60,000 after purchasing an additional 241 shares during the period. Parvin Asset Management LLC purchased a new position in Extra Space Storage during the fourth quarter worth approximately $62,000. Finally, Lindbrook Capital LLC raised its stake in Extra Space Storage by 14.9% during the fourth quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust's stock worth $78,000 after purchasing an additional 68 shares during the period. Hedge funds and other institutional investors own 99.11% of the company's stock.

Insiders Place Their Bets

In other Extra Space Storage 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 transaction of $1,127,625.00. Following the sale, the chief executive officer directly owned 27,260 shares in the company, valued at approximately $4,098,541. The trade was a 21.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.36% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Barclays cut their target price on shares of Extra Space Storage from $181.00 to $178.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Bank of America raised their price target on shares of Extra Space Storage from $155.00 to $161.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Scotiabank raised their price objective on shares of Extra Space Storage from $149.00 to $166.00 and gave the stock a "sector outperform" rating in a report on Monday, May 12th. BNP Paribas Exane initiated coverage on shares of Extra Space Storage in a report on Tuesday, June 24th. They set a "neutral" rating and a $156.00 price objective for the company. Finally, Benchmark decreased their price objective on shares of Extra Space Storage from $61.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Extra Space Storage presently has a consensus rating of "Hold" and an average target price of $159.29.

Extra Space Storage Stock Performance

Shares of NYSE EXR traded down $3.34 during midday trading on Monday, hitting $149.54. The company's stock had a trading volume of 254,886 shares, compared to its average volume of 1,061,692. Extra Space Storage Inc has a 1-year low of $121.03 and a 1-year high of $184.87. The firm's fifty day moving average price is $148.50 and its 200-day moving average price is $148.36. 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 firm has a market cap of $31.73 billion, a P/E ratio of 34.66, a P/E/G ratio of 3.71 and a beta of 1.10.

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, beating the consensus estimate 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%. Extra Space Storage's quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the firm posted $1.96 EPS. On average, sell-side analysts forecast that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a $1.62 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $6.48 annualized dividend and a yield of 4.33%. Extra Space Storage's dividend payout ratio is presently 150.35%.

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.