Extra Space Storage Inc (NYSE:EXR) Stock Position Raised by Liberty One Investment Management LLC

Liberty One Investment Management LLC raised its position in Extra Space Storage Inc (NYSE:EXR - Free Report) by 9.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,180 shares of the real estate investment trust's stock after buying an additional 2,793 shares during the period. Liberty One Investment Management LLC's holdings in Extra Space Storage were worth $4,630,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of EXR. Harbour Investments Inc. raised its position in shares of 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 purchasing an additional 80 shares during the period. Quarry LP raised 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 worth $53,000 after purchasing an additional 217 shares during the period. Golden State Wealth Management LLC raised its position in shares of Extra Space Storage by 147.0% during the 1st 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 acquired a new stake in shares of Extra Space Storage during the 4th quarter worth approximately $62,000. Finally, Wayfinding Financial LLC acquired a new stake in shares of Extra Space Storage during the 1st quarter worth approximately $76,000. Institutional investors and hedge funds own 99.11% of the company's stock.

Wall Street Analysts Forecast Growth

EXR has been the topic of a number of research reports. Benchmark dropped their price target on Extra Space Storage from $61.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Royal Bank Of Canada lowered their target price on Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 1st. BNP Paribas Exane started coverage on Extra Space Storage in a research report on Tuesday, June 24th. They issued a "neutral" rating and a $156.00 target price on the stock. Wall Street Zen upgraded Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Wednesday, April 30th. Finally, Scotiabank raised their target price on Extra Space Storage from $149.00 to $166.00 and gave the company a "sector outperform" rating in a research report on Monday, May 12th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $159.29.

Extra Space Storage Price Performance

NYSE EXR traded up $1.18 on Friday, reaching $150.00. 1,142,660 shares of the stock traded hands, compared to its average volume of 1,070,661. The firm's fifty day simple moving average is $148.87 and its 200 day simple moving average is $148.39. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.85. The company has a market cap of $31.83 billion, a price-to-earnings ratio of 34.80, a P/E/G ratio of 3.61 and a beta of 1.10. Extra Space Storage Inc has a 12 month low of $121.03 and a 12 month high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.96 by $0.04. The firm had revenue of $820.00 million during the quarter, compared to analyst estimates of $705.12 million. Extra Space Storage had a return on equity of 6.11% and a net margin of 27.84%. The firm's quarterly 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 predict that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.32%. The ex-dividend date was Monday, June 16th. Extra Space Storage's dividend payout ratio is presently 150.35%.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was 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 of the company's stock, valued at $4,098,541. This trade represents a 21.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.96% of the stock is currently owned by corporate insiders.

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.