Azzad Asset Management Inc. ADV Buys 427 Shares of Extra Space Storage Inc. (NYSE:EXR)

Azzad Asset Management Inc. ADV boosted its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 4.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,837 shares of the real estate investment trust’s stock after acquiring an additional 427 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Extra Space Storage were worth $1,593,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in EXR. O Shaughnessy Asset Management LLC bought a new position in shares of Extra Space Storage in the 3rd quarter valued at $439,000. Qube Research & Technologies Ltd acquired a new stake in shares of Extra Space Storage during the 3rd quarter valued at $1,895,000. Bank of Nova Scotia boosted its holdings in shares of Extra Space Storage by 78.1% during the 3rd quarter. Bank of Nova Scotia now owns 19,888 shares of the real estate investment trust’s stock valued at $2,418,000 after acquiring an additional 8,721 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Extra Space Storage by 544.8% during the 3rd quarter. Lazard Asset Management LLC now owns 3,701 shares of the real estate investment trust’s stock valued at $449,000 after acquiring an additional 3,127 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Extra Space Storage by 402.6% during the 3rd quarter. AQR Capital Management LLC now owns 88,819 shares of the real estate investment trust’s stock valued at $10,796,000 after acquiring an additional 71,148 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $152.58, for a total value of $1,144,350.00. Following the transaction, the chief executive officer now directly owns 31,690 shares of the company’s stock, valued at approximately $4,835,260.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $152.58, for a total value of $1,144,350.00. Following the transaction, the chief executive officer now directly owns 31,690 shares of the company’s stock, valued at approximately $4,835,260.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph J. Bonner sold 677 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $148.22, for a total value of $100,344.94. Following the completion of the sale, the director now directly owns 5,229 shares of the company’s stock, valued at $775,042.38. The disclosure for this sale can be found here. 1.36% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Barclays raised their price objective on Extra Space Storage from $157.00 to $158.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Wells Fargo & Company raised their price objective on Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Evercore ISI cut their price objective on Extra Space Storage from $145.00 to $139.00 in a report on Wednesday, May 1st. Citigroup cut their price objective on Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, June 7th. Finally, Raymond James reaffirmed an “outperform” rating and set a $160.00 target price on shares of Extra Space Storage in a report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Extra Space Storage presently has a consensus rating of “Hold” and a consensus target price of $151.83.

Extra Space Storage Stock Up 0.3 %

Shares of NYSE:EXR opened at $154.12 on Thursday. The company has a market capitalization of $32.63 billion, a price-to-earnings ratio of 34.33, a P/E/G ratio of 3.24 and a beta of 0.83. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.15 and a quick ratio of 0.15. The business’s 50-day moving average is $148.26 and its 200-day moving average is $146.93. Extra Space Storage Inc. has a 1 year low of $101.19 and a 1 year high of $164.99.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date was Friday, June 14th. Extra Space Storage’s dividend payout ratio is 144.32%.

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.