Extra Space Storage Inc. (NYSE:EXR) Shares Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC lifted its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 9.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,480 shares of the real estate investment trust’s stock after purchasing an additional 1,549 shares during the period. Sanctuary Advisors LLC’s holdings in Extra Space Storage were worth $3,107,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in EXR. EdgeRock Capital LLC acquired a new position in shares of Extra Space Storage during the second quarter worth $25,000. Centerpoint Advisors LLC bought a new stake in shares of Extra Space Storage in the second quarter worth $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Extra Space Storage in the third quarter worth $33,000. Blue Trust Inc. increased its stake in shares of Extra Space Storage by 540.5% in the second quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 200 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Extra Space Storage in the third quarter worth $42,000. 99.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total value of $1,338,900.00. Following the completion of the sale, the chief executive officer now directly owns 24,190 shares of the company’s stock, valued at approximately $4,318,398.80. This represents a 23.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Diane Olmstead sold 3,081 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $164.56, for a total transaction of $507,009.36. Following the completion of the sale, the director now directly owns 5,877 shares of the company’s stock, valued at $967,119.12. The trade was a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Performance

Shares of EXR opened at $154.57 on Wednesday. Extra Space Storage Inc. has a 1 year low of $131.02 and a 1 year high of $184.87. The company has a market cap of $32.77 billion, a price-to-earnings ratio of 40.46, a price-to-earnings-growth ratio of 8.03 and a beta of 0.89. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The firm has a fifty day moving average of $165.96 and a 200-day moving average of $165.90.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($1.12). The company had revenue of $824.80 million during the quarter, compared to analyst estimates of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.02 EPS. As a group, equities analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.19%. The ex-dividend date is Monday, December 16th. Extra Space Storage’s payout ratio is currently 169.63%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on EXR shares. Wells Fargo & Company restated an “equal weight” rating and issued a $175.00 price target on shares of Extra Space Storage in a research note on Monday, October 21st. Barclays boosted their target price on shares of Extra Space Storage from $188.00 to $192.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Truist Financial boosted their target price on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Jefferies Financial Group upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and boosted their target price for the company from $162.00 to $204.00 in a research note on Wednesday, September 18th. Finally, Evercore ISI lowered their target price on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a research note on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $171.43.

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.