Choreo LLC Invests $797,000 in Extra Space Storage Inc. (NYSE:EXR)

Choreo LLC bought a new position in shares of Extra Space Storage Inc. (NYSE:EXR) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,221 shares of the real estate investment trust’s stock, valued at approximately $797,000.

A number of other large investors have also added to or reduced their stakes in EXR. Massmutual Trust Co. FSB ADV increased its holdings in shares of Extra Space Storage by 19.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 76 shares during the last quarter. QRG Capital Management Inc. raised its holdings in Extra Space Storage by 5.2% in the 1st quarter. QRG Capital Management Inc. now owns 1,588 shares of the real estate investment trust’s stock valued at $233,000 after acquiring an additional 78 shares during the period. Park Avenue Securities LLC lifted its position in Extra Space Storage by 2.1% during the second quarter. Park Avenue Securities LLC now owns 3,773 shares of the real estate investment trust’s stock worth $586,000 after acquiring an additional 79 shares during the last quarter. Gallacher Capital Management LLC boosted its holdings in shares of Extra Space Storage by 1.2% during the second quarter. Gallacher Capital Management LLC now owns 7,433 shares of the real estate investment trust’s stock worth $1,155,000 after acquiring an additional 86 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its holdings in shares of Extra Space Storage by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 18,144 shares of the real estate investment trust’s stock worth $2,820,000 after acquiring an additional 100 shares during the period. Institutional investors own 99.11% of the company’s stock.

Insider Transactions at Extra Space Storage

In related news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $177.01, for a total transaction of $499,699.23. Following the completion of the transaction, 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 filing with the SEC, which is available through the SEC website. In related news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the firm’s 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 owns 32,855 shares of the company’s stock, valued at approximately $5,815,663.55. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP William N. Springer sold 2,000 shares of the stock in a transaction dated 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 $2,089,758.27. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,323 shares of company stock valued at $1,994,709. 1.36% of the stock is currently owned by insiders.

Extra Space Storage Trading Up 0.3 %

Shares of EXR stock opened at $177.90 on Friday. Extra Space Storage Inc. has a fifty-two week low of $101.19 and a fifty-two week high of $179.23. The stock’s fifty day moving average price is $167.71 and its two-hundred day moving average price is $153.38. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.20 and a current ratio of 0.20. The company has a market cap of $37.70 billion, a PE ratio of 39.62, a P/E/G ratio of 2.56 and a beta of 0.86.

Extra Space Storage Dividend Announcement

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

Analysts Set New Price Targets

EXR has been the subject of several research reports. Wells Fargo & Company lifted their price target on Extra Space Storage from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Raymond James boosted their target price on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. KeyCorp raised their price target on shares of Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Royal Bank of Canada initiated coverage on shares of Extra Space Storage in a report on Tuesday. They issued a “sector perform” rating and a $180.00 price objective for the company. Finally, Citigroup lowered their target price on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, June 7th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Extra Space Storage has an average rating of “Hold” and a consensus target price 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.