Extra Space Storage Inc. (NYSE:EXR) Shares Purchased by Brasada Capital Management LP

Brasada Capital Management LP raised its position in Extra Space Storage Inc. (NYSE:EXR) by 12.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,499 shares of the real estate investment trust’s stock after buying an additional 722 shares during the quarter. Brasada Capital Management LP’s holdings in Extra Space Storage were worth $958,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its stake in shares of Extra Space Storage by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,160 shares of the real estate investment trust’s stock worth $2,717,000 after acquiring an additional 66 shares during the period. Wedge Capital Management L L P NC boosted its holdings in Extra Space Storage by 1.3% in the 4th quarter. Wedge Capital Management L L P NC now owns 5,138 shares of the real estate investment trust’s stock valued at $769,000 after purchasing an additional 68 shares in the last quarter. Lindbrook Capital LLC increased its position in Extra Space Storage by 14.9% during the 4th quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust’s stock worth $78,000 after purchasing an additional 68 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Extra Space Storage by 5.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,327 shares of the real estate investment trust’s stock worth $199,000 after buying an additional 73 shares in the last quarter. Finally, Checchi Capital Advisers LLC lifted its holdings in shares of Extra Space Storage by 2.2% in the 4th quarter. Checchi Capital Advisers LLC now owns 3,449 shares of the real estate investment trust’s stock valued at $516,000 after buying an additional 75 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $141.95 on Wednesday. The firm’s 50-day moving average is $146.31 and its two-hundred day moving average is $154.82. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The stock has a market capitalization of $30.13 billion, a P/E ratio of 37.16, a P/E/G ratio of 7.76 and a beta of 0.96. Extra Space Storage Inc. has a 12-month low of $121.03 and a 12-month high of $184.87.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.93. The company had revenue of $821.90 million for the quarter, compared to analyst estimates of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. Equities analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a $1.62 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.56%. Extra Space Storage’s dividend payout ratio is presently 160.40%.

Insider Activity at Extra Space Storage

In other news, Director Joseph J. Bonner sold 672 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $149.10, for a total value of $100,195.20. Following the transaction, the director now directly owns 4,557 shares in the company, valued at $679,448.70. This trade represents a 12.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total value of $1,105,875.00. Following the completion of the transaction, the chief executive officer now directly owns 9,190 shares in the company, valued at $1,355,065.50. This represents a 44.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,392 shares of company stock worth $1,392,315. 1.36% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

EXR has been the subject of a number of recent analyst reports. The Goldman Sachs Group reissued a “buy” rating on shares of Extra Space Storage in a report on Thursday, March 6th. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Royal Bank of Canada reduced their price target on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. Wells Fargo & Company lowered their price target on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday, February 21st. Finally, Mizuho started coverage on Extra Space Storage in a report on Wednesday, April 9th. They set an “outperform” rating and a $141.00 price objective for the company. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $167.25.

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.