Bleakley Financial Group LLC Has $274,000 Holdings in Extra Space Storage Inc. (NYSE:EXR)

Bleakley Financial Group LLC cut its stake in Extra Space Storage Inc. (NYSE:EXR) by 7.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,828 shares of the real estate investment trust’s stock after selling 145 shares during the period. Bleakley Financial Group LLC’s holdings in Extra Space Storage were worth $274,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in shares of Extra Space Storage in the 3rd quarter worth approximately $33,000. Harvest Fund Management Co. Ltd acquired a new stake in Extra Space Storage during the 3rd quarter valued at $42,000. Continuum Advisory LLC increased its holdings in Extra Space Storage by 68.1% during the 3rd quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 126 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in Extra Space Storage during the 3rd quarter valued at $129,000. Finally, Exchange Traded Concepts LLC increased its holdings in Extra Space Storage by 13.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 861 shares of the real estate investment trust’s stock valued at $129,000 after purchasing an additional 104 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Diane Olmstead sold 3,081 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $164.56, for a total transaction of $507,009.36. Following the sale, the director now owns 5,877 shares of the company’s stock, valued at approximately $967,119.12. This trade represents a 34.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the sale, the chief executive officer now directly owns 16,690 shares in the company, valued at $2,470,286.90. The trade was a 31.00 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on EXR. Scotiabank raised Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price target for the company in a report on Friday, January 10th. Truist Financial raised their price target on Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $175.00 price target on shares of Extra Space Storage in a report on Monday, October 21st. Barclays decreased their price objective on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Finally, StockNews.com upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Extra Space Storage has an average rating of “Hold” and an average target price of $174.00.

Extra Space Storage Stock Up 0.6 %

NYSE:EXR opened at $157.45 on Wednesday. Extra Space Storage Inc. has a 12-month low of $131.02 and a 12-month high of $184.87. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $33.38 billion, a P/E ratio of 41.22, a P/E/G ratio of 7.77 and a beta of 0.91. The stock’s fifty day simple moving average is $152.80 and its 200-day simple moving average is $164.17.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend was Monday, December 16th. Extra Space Storage’s payout ratio is presently 169.63%.

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.