Choreo LLC Acquires New Stake in Extra Space Storage Inc. (NYSE:EXR)

Choreo LLC bought a new position in shares of Extra Space Storage Inc. (NYSE:EXR) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 5,221 shares of the real estate investment trust’s stock, valued at approximately $797,000.

Other institutional investors have also recently made changes to their positions in the company. EdgeRock Capital LLC bought a new position in shares of Extra Space Storage during the second quarter worth about $25,000. Creekmur Asset Management LLC acquired a new stake in Extra Space Storage during the 4th quarter valued at approximately $26,000. Centerpoint Advisors LLC acquired a new stake in Extra Space Storage during the 2nd quarter valued at approximately $27,000. Blue Trust Inc. raised its holdings in Extra Space Storage by 540.5% during the 2nd quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 200 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in shares of Extra Space Storage by 2,760.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 276 shares during the period. Institutional investors own 99.11% of the company’s stock.

Insider Buying and Selling

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $177.01, for a total value of $499,699.23. Following the completion of the sale, the executive vice president now directly owns 32,855 shares of the company’s stock, valued at approximately $5,815,663.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Gwyn Goodson Mcneal sold 2,823 shares of Extra Space Storage stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $177.01, for a total transaction of $499,699.23. Following the sale, the executive vice president now directly owns 32,855 shares in the company, valued at approximately $5,815,663.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the transaction, the chief executive officer now owns 31,690 shares of the company’s stock, valued at approximately $4,835,260.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,323 shares of company stock worth $1,994,709. 1.36% of the stock is owned by corporate insiders.

Extra Space Storage Stock Performance

Shares of EXR stock opened at $177.90 on Friday. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.76. The firm has a fifty day simple moving average of $167.71 and a two-hundred day simple moving average of $153.38. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $179.23. The firm has a market capitalization of $37.70 billion, a PE ratio of 39.62, a price-to-earnings-growth ratio of 2.56 and a beta of 0.86.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Monday, September 16th. Extra Space Storage’s dividend payout ratio is currently 144.32%.

Analysts Set New Price Targets

EXR has been the subject of a number of analyst reports. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Truist Financial boosted their price objective on Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a research note on Friday, August 16th. Scotiabank raised their target price on Extra Space Storage from $159.00 to $169.00 and gave the stock a “sector underperform” rating in a research note on Thursday, August 22nd. Royal Bank of Canada started coverage on Extra Space Storage in a research note on Tuesday. They issued a “sector perform” rating and a $180.00 price target on the stock. Finally, Raymond James raised their price objective on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, Extra Space Storage presently has a consensus rating of “Hold” and a consensus price target of $168.36.

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.