Extra Space Storage Inc (NYSE:EXR) Shares Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 99.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,642 shares of the real estate investment trust's stock after purchasing an additional 7,302 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Extra Space Storage were worth $2,174,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Harbour Investments Inc. boosted its holdings in shares of Extra Space Storage by 90.9% in 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 boosted 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 buying an additional 217 shares during the period. Parvin Asset Management LLC bought a new position in Extra Space Storage during the fourth quarter valued at $62,000. Lindbrook Capital LLC raised its stake in shares of Extra Space Storage by 14.9% in the fourth quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust's stock valued at $78,000 after acquiring an additional 68 shares during the period. Finally, Global X Japan Co. Ltd. raised its stake in shares of Extra Space Storage by 24.8% in the first quarter. Global X Japan Co. Ltd. now owns 558 shares of the real estate investment trust's stock valued at $83,000 after acquiring an additional 111 shares during the period. Institutional investors own 99.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Bank of America upped 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. BNP Paribas raised Extra Space Storage to a "hold" rating in a research report on Tuesday, June 24th. Evercore ISI upped their price target on Extra Space Storage from $144.00 to $149.00 and gave the stock an "in-line" rating in a research report on Thursday, May 1st. Scotiabank lifted 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 research note on Monday, May 12th. Finally, Mizuho increased their price objective on shares of Extra Space Storage from $141.00 to $153.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 28th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $159.29.

Insider Buying and Selling at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the completion of the transaction, the chief executive officer directly owned 9,190 shares of the company's stock, valued at $1,355,065.50. This represents a 44.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.36% of the stock is currently owned by insiders.

Extra Space Storage Stock Performance

Shares of NYSE EXR traded up $1.58 during midday trading on Monday, reaching $147.44. 1,393,372 shares of the company were exchanged, compared to its average volume of 1,054,113. The stock has a market cap of $31.29 billion, a P/E ratio of 34.21, a PEG ratio of 3.54 and a beta of 1.11. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $184.87. The stock has a fifty day simple moving average of $147.68 and a 200 day simple moving average of $148.30. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.85.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its 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. Extra Space Storage had a return on equity of 6.11% and a net margin of 27.84%. The business had revenue of $820.00 million for the quarter, compared to analyst estimates of $705.12 million. During the same quarter in the previous year, the company posted $1.96 earnings per share. The company's revenue for the quarter was up 2.6% compared to the same quarter last year. On average, 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 announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend is Monday, June 16th. Extra Space Storage's dividend payout ratio (DPR) 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.