Extra Space Storage Inc. (NYSE:EXR) Holdings Boosted by Sunbelt Securities Inc.

Sunbelt Securities Inc. grew its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 441.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 617 shares of the real estate investment trust’s stock after purchasing an additional 503 shares during the quarter. Sunbelt Securities Inc.’s holdings in Extra Space Storage were worth $96,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in EXR. EdgeRock Capital LLC bought a new position in Extra Space Storage during the 2nd quarter worth $25,000. Creekmur Asset Management LLC bought a new position in shares of Extra Space Storage during the fourth quarter worth about $26,000. Centerpoint Advisors LLC acquired a new stake in shares of Extra Space Storage in the 2nd quarter worth about $27,000. Blue Trust Inc. increased its holdings in shares of Extra Space Storage by 540.5% in the 2nd quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 200 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in 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 valued at $44,000 after purchasing an additional 276 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the sale, the chief executive officer now directly owns 24,190 shares of the company’s stock, valued at $4,318,398.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP William N. Springer sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total value of $350,660.00. Following the completion of the transaction, the executive vice president now owns 11,919 shares of the company’s stock, valued at approximately $2,089,758.27. 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 business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the sale, the chief executive officer now directly owns 24,190 shares in the company, valued at $4,318,398.80. The disclosure for this sale can be found here. Insiders sold a total of 18,970 shares of company stock valued at $3,367,307 in the last three months. 1.36% of the stock is currently owned by corporate insiders.

Extra Space Storage Stock Down 0.5 %

EXR stock opened at $176.31 on Friday. The firm has a market cap of $37.33 billion, a PE ratio of 39.27, a P/E/G ratio of 2.67 and a beta of 0.86. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $184.87. 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 firm has a 50 day simple moving average of $172.66 and a 200 day simple moving average of $156.76.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.68%. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.32%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on EXR shares. Scotiabank raised their price target on shares of Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a research note on Thursday, August 22nd. Bank of America cut Extra Space Storage from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $172.00 to $155.00 in a research report on Monday, August 5th. Barclays lifted their target price on Extra Space Storage from $158.00 to $188.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Evercore ISI increased their price target on Extra Space Storage from $167.00 to $170.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Finally, Jefferies Financial Group upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and lifted their price objective for the company from $162.00 to $204.00 in a research note on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $170.93.

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.