King Luther Capital Management Corp Has $1.48 Million Stake in Extra Space Storage Inc. (NYSE:EXR)

King Luther Capital Management Corp grew its holdings in Extra Space Storage Inc. (NYSE:EXR) by 1.0% in the 2nd quarter, Holdings Channel reports. The fund owned 9,552 shares of the real estate investment trust’s stock after purchasing an additional 97 shares during the quarter. King Luther Capital Management Corp’s holdings in Extra Space Storage were worth $1,484,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Extra Space Storage by 19.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 76 shares in the last quarter. QRG Capital Management Inc. lifted its stake in Extra Space Storage by 5.2% in the 1st quarter. QRG Capital Management Inc. now owns 1,588 shares of the real estate investment trust’s stock valued at $233,000 after acquiring an additional 78 shares in the last quarter. Park Avenue Securities LLC boosted its position in Extra Space Storage by 2.1% during the 2nd quarter. Park Avenue Securities LLC now owns 3,773 shares of the real estate investment trust’s stock worth $586,000 after acquiring an additional 79 shares during the last quarter. Gallacher Capital Management LLC grew its stake in shares of Extra Space Storage by 1.2% during the 2nd quarter. Gallacher Capital Management LLC now owns 7,433 shares of the real estate investment trust’s stock worth $1,155,000 after acquiring an additional 86 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of Extra Space Storage by 3.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,730 shares of the real estate investment trust’s stock valued at $424,000 after purchasing an additional 94 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on EXR shares. Evercore ISI increased their target price on shares of Extra Space Storage from $167.00 to $170.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Wells Fargo & Company raised their price objective on Extra Space Storage from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Truist Financial upped their target price on Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Jefferies Financial Group upgraded Extra Space Storage from a “hold” rating to a “buy” rating and raised their price target for the company from $162.00 to $204.00 in a research note on Wednesday, September 18th. Finally, Royal Bank of Canada assumed coverage on Extra Space Storage in a research note on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Extra Space Storage has a consensus rating of “Hold” and an average target price of $170.93.

Insiders Place Their Bets

In other news, EVP William N. Springer sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total transaction of $350,660.00. Following the transaction, the executive vice president now owns 11,919 shares in the company, valued at $2,089,758.27. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $152.58, for a total value of $1,144,350.00. Following the completion of the sale, the chief executive officer now owns 31,690 shares of the company’s stock, valued at approximately $4,835,260.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William N. Springer sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total transaction of $350,660.00. Following the transaction, the executive vice president now directly owns 11,919 shares in the company, valued at $2,089,758.27. The disclosure for this sale can be found here. Insiders sold 18,970 shares of company stock worth $3,172,757 over the last three months. Insiders own 1.36% of the company’s stock.

Extra Space Storage Price Performance

NYSE:EXR opened at $180.41 on Monday. The firm’s fifty day moving average price is $170.03 and its two-hundred day moving average price is $154.85. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.20 and a quick ratio of 0.20. The company has a market cap of $38.20 billion, a P/E ratio of 40.18, a P/E/G ratio of 2.56 and a beta of 0.86. Extra Space Storage Inc. has a one year low of $101.19 and a one year high of $184.87.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $1.62 dividend. The ex-dividend date is Monday, September 16th. This represents a $6.48 annualized dividend and a yield of 3.59%. Extra Space Storage’s dividend payout ratio is currently 144.32%.

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.