Fulton Breakefield Broenniman LLC Sells 12,679 Shares of Extra Space Storage Inc. (NYSE:EXR)

Fulton Breakefield Broenniman LLC decreased its holdings in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 15.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 69,964 shares of the real estate investment trust's stock after selling 12,679 shares during the quarter. Fulton Breakefield Broenniman LLC's holdings in Extra Space Storage were worth $11,217,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Zions Bancorporation N.A. boosted its stake in Extra Space Storage by 241.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 150 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Extra Space Storage by 162.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust's stock valued at $28,000 after acquiring an additional 143 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Extra Space Storage in the third quarter worth about $32,000. Anchor Investment Management LLC acquired a new position in shares of Extra Space Storage during the fourth quarter worth approximately $35,000. Finally, Bruce G. Allen Investments LLC bought a new stake in shares of Extra Space Storage during the fourth quarter valued at approximately $41,000. 99.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on EXR shares. Raymond James reaffirmed an "outperform" rating and set a $160.00 price target on shares of Extra Space Storage in a research note on Thursday, March 28th. TheStreet upgraded shares of Extra Space Storage from a "c+" rating to a "b-" rating in a research report on Thursday, January 11th. Barclays began coverage on shares of Extra Space Storage in a report on Wednesday, March 27th. They issued an "overweight" rating and a $157.00 price objective on the stock. Wells Fargo & Company upped their target price on shares of Extra Space Storage from $150.00 to $160.00 and gave the company an "overweight" rating in a research report on Friday, April 5th. Finally, Scotiabank started coverage on Extra Space Storage in a research note on Tuesday, February 13th. They set a "sector underperform" rating and a $131.00 price objective for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $150.17.

Extra Space Storage Trading Down 0.3 %

Shares of Extra Space Storage stock traded down $0.36 during trading hours on Friday, hitting $133.47. The company's stock had a trading volume of 716,541 shares, compared to its average volume of 1,021,555. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $164.99. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market capitalization of $28.24 billion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 3.28 and a beta of 0.74. The stock has a 50 day moving average of $141.87 and a 200 day moving average of $138.30.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($1.01). The company had revenue of $797.77 million for the quarter, compared to the consensus estimate of $778.05 million. Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. The firm's revenue was up 57.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.09 EPS. Analysts predict that Extra Space Storage Inc. will post 8.05 earnings per share for the current year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.86%. The ex-dividend date was Thursday, March 14th. Extra Space Storage's payout ratio is 131.17%.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CMO Samrat Sondhi sold 2,048 shares of the business's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $146.46, for a total transaction of $299,950.08. Following the sale, the chief marketing officer now directly owns 94,126 shares of the company's stock, valued at approximately $13,785,693.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $146.46, for a total transaction of $299,950.08. Following the completion of the transaction, the chief marketing officer now directly owns 94,126 shares of the company's stock, valued at $13,785,693.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the business's stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $145.00, for a total value of $195,750.00. Following the transaction, the executive vice president now directly owns 37,028 shares in the company, valued at approximately $5,369,060. The disclosure for this sale can be found here. Insiders sold 3,532 shares of company stock valued at $514,819 in the last ninety days. 1.36% of the stock is currently owned by corporate insiders.

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.