Quarry LP Buys 814 Shares of Extra Space Storage Inc. (NYSE:EXR)

Quarry LP grew its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 1,480.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 869 shares of the real estate investment trust’s stock after buying an additional 814 shares during the quarter. Quarry LP’s holdings in Extra Space Storage were worth $135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Boston Partners bought a new stake in shares of Extra Space Storage during the 1st quarter valued at about $130,554,000. Capital Research Global Investors increased its holdings in Extra Space Storage by 111.4% during the fourth quarter. Capital Research Global Investors now owns 1,537,317 shares of the real estate investment trust’s stock valued at $246,478,000 after buying an additional 810,158 shares during the last quarter. Janus Henderson Group PLC raised its position in Extra Space Storage by 2,244.2% in the first quarter. Janus Henderson Group PLC now owns 597,729 shares of the real estate investment trust’s stock worth $87,824,000 after acquiring an additional 572,231 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Extra Space Storage by 43.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,557,135 shares of the real estate investment trust’s stock worth $228,899,000 after acquiring an additional 473,559 shares during the last quarter. Finally, Wellington Management Group LLP grew its position 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 valued at $352,621,000 after acquiring an additional 451,242 shares during the period. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Extra Space Storage Stock Up 1.7 %

Shares of EXR opened at $180.20 on Tuesday. 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 stock has a market capitalization of $38.15 billion, a price-to-earnings ratio of 40.13, a price-to-earnings-growth ratio of 2.67 and a beta of 0.86. Extra Space Storage Inc. has a 1 year low of $101.19 and a 1 year high of $184.87. The business’s 50 day simple moving average is $171.51 and its 200-day simple moving average is $155.94.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend was Monday, September 16th. Extra Space Storage’s payout ratio is 144.32%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on EXR. Jefferies Financial Group upgraded Extra Space Storage from a “hold” rating to a “buy” rating and lifted their target price for the company from $162.00 to $204.00 in a research report on Wednesday, September 18th. Citigroup decreased their price objective on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Wells Fargo & Company increased their price target on Extra Space Storage from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Truist Financial raised their price target on Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a report on Friday, August 16th. Finally, Bank of America lowered 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 note on Monday, August 5th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Extra Space Storage currently has a consensus rating of “Hold” and a consensus target price of $170.93.

Insider Buying and Selling at Extra Space Storage

In other news, EVP William N. Springer sold 2,000 shares of the business’s 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 sale, the executive vice president now directly owns 11,919 shares in the company, valued at approximately $2,089,758.27. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP William N. Springer sold 2,000 shares of Extra Space Storage stock in a transaction dated 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 owns 11,919 shares in the company, valued at $2,089,758.27. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value of $499,699.23. Following the sale, the executive vice president now owns 32,855 shares in the company, valued at $5,815,663.55. The disclosure for this sale can be found here. Insiders sold 11,470 shares of company stock worth $2,028,407 over the last 90 days. 1.36% of the stock is owned by insiders.

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.