Ashton Thomas Private Wealth LLC Purchases New Shares in Extra Space Storage Inc. (NYSE:EXR)

Ashton Thomas Private Wealth LLC purchased a new stake in Extra Space Storage Inc. (NYSE:EXR) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 512 shares of the real estate investment trust’s stock, valued at approximately $80,000.

A number of other institutional investors have also made changes to their positions in EXR. Vanguard Group Inc. grew its position in shares of Extra Space Storage by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 33,686,389 shares of the real estate investment trust’s stock worth $4,951,899,000 after buying an additional 170,380 shares during the period. Norges Bank acquired a new position in shares of Extra Space Storage during the 4th quarter worth approximately $1,022,811,000. Centersquare Investment Management LLC increased its holdings in shares of Extra Space Storage by 1.3% during the 1st quarter. Centersquare Investment Management LLC now owns 2,546,475 shares of the real estate investment trust’s stock worth $341,941,000 after acquiring an additional 32,591 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Extra Space Storage by 25.8% during the 4th quarter. Wellington Management Group LLP now owns 2,199,347 shares of the real estate investment trust’s stock worth $352,621,000 after acquiring an additional 451,242 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in Extra Space Storage by 43.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,557,135 shares of the real estate investment trust’s stock valued at $228,899,000 after buying an additional 473,559 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

Insider Buying and Selling

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 value 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 $5,815,663.55. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP William N. Springer sold 2,000 shares of Extra Space Storage stock in a transaction on Wednesday, August 28th. The stock was 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 directly owns 11,919 shares in the company, valued at $2,089,758.27. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Gwyn Goodson Mcneal sold 2,823 shares of Extra Space Storage stock in a transaction on 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 transaction, the executive vice president now owns 32,855 shares of the company’s stock, valued at $5,815,663.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,323 shares of company stock worth $1,994,709. 1.36% of the stock is owned by company insiders.

Extra Space Storage Stock Performance

Shares of Extra Space Storage stock opened at $177.90 on Friday. The business’s fifty day simple moving average is $167.71 and its 200 day simple moving average is $153.47. The firm has a market capitalization of $37.70 billion, a P/E ratio of 39.62, a price-to-earnings-growth ratio of 2.56 and a beta of 0.86. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $179.23. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.76.

Extra Space Storage Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on EXR shares. Raymond James upped their price objective on Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Scotiabank increased their target price on Extra Space Storage from $159.00 to $169.00 and gave the stock a “sector underperform” rating in a report on Thursday, August 22nd. Royal Bank of Canada assumed coverage on Extra Space Storage in a report on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 target price on the stock. Bank of America downgraded Extra Space Storage from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $172.00 to $155.00 in a research report on Monday, August 5th. Finally, Wells Fargo & Company upped their price objective on Extra Space Storage from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Extra Space Storage presently has a consensus rating of “Hold” and a consensus target price of $168.36.

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.