Susquehanna Fundamental Investments LLC Invests $5.14 Million in Extra Space Storage Inc. (NYSE:EXR)

Susquehanna Fundamental Investments LLC bought a new stake in shares of Extra Space Storage Inc. (NYSE:EXR) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 34,944 shares of the real estate investment trust’s stock, valued at approximately $5,137,000.

Several other large investors also recently added to or reduced their stakes in EXR. EdgeRock Capital LLC purchased a new position in shares of Extra Space Storage in the fourth quarter worth $26,000. Creekmur Asset Management LLC bought a new stake in Extra Space Storage in the fourth quarter worth $26,000. Anchor Investment Management LLC bought a new position in Extra Space Storage during the fourth quarter valued at $35,000. Bruce G. Allen Investments LLC bought a new position in Extra Space Storage during the fourth quarter valued at $41,000. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its position in Extra Space Storage by 200.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 300 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 200 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 31,690 shares in the company, valued at approximately $4,835,260.20. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Joseph J. Bonner sold 677 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $148.22, for a total transaction of $100,344.94. Following the transaction, the director now owns 5,229 shares in the company, valued at approximately $775,042.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 31,690 shares in the company, valued at approximately $4,835,260.20. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on EXR. Citigroup cut their price objective on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Evercore ISI upped their price target on shares of Extra Space Storage from $140.00 to $151.00 and gave the stock an “in-line” rating in a report on Monday. Barclays upped their price target on shares of Extra Space Storage from $157.00 to $158.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Wells Fargo & Company upped their price target on shares of Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Finally, Raymond James restated an “outperform” rating and issued a $160.00 price target 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 given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $152.83.

Extra Space Storage Stock Performance

Shares of Extra Space Storage stock traded up $0.08 during midday trading on Monday, hitting $162.00. The company had a trading volume of 155,153 shares, compared to its average volume of 1,083,923. The stock has a market cap of $34.30 billion, a price-to-earnings ratio of 35.86, a PEG ratio of 3.41 and a beta of 0.83. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.73. The company has a fifty day simple moving average of $150.90 and a 200 day simple moving average of $146.87. Extra Space Storage Inc. has a 12-month low of $101.19 and a 12-month high of $164.99.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.00%. The ex-dividend date was Friday, June 14th. Extra Space Storage’s payout ratio is currently 144.32%.

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.