Extra Space Storage Inc. (NYSE:EXR) Shares Bought by Empowered Funds LLC

Empowered Funds LLC lifted its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 7.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,928 shares of the real estate investment trust’s stock after acquiring an additional 264 shares during the period. Empowered Funds LLC’s holdings in Extra Space Storage were worth $708,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. EdgeRock Capital LLC bought a new stake in shares of Extra Space Storage in the 2nd quarter worth $25,000. Centerpoint Advisors LLC acquired a new position in Extra Space Storage during the second quarter worth about $27,000. Ashton Thomas Securities LLC bought a new stake in Extra Space Storage in the third quarter worth about $33,000. Blue Trust Inc. lifted its holdings in Extra Space Storage by 540.5% in the 2nd quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 200 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of Extra Space Storage by 2,760.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 276 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Stock Performance

NYSE EXR opened at $168.14 on Friday. The firm’s fifty day moving average price is $170.44 and its two-hundred day moving average price is $163.38. The stock has a market cap of $35.64 billion, a PE ratio of 44.02, a PEG ratio of 8.40 and a beta of 0.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. Extra Space Storage Inc. has a fifty-two week low of $125.32 and a fifty-two week high of $184.87.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business had revenue of $824.80 million for the quarter, compared to the consensus estimate of $826.93 million. During the same period in the previous year, the firm earned $2.02 earnings per share. The company’s revenue was up 10.2% compared to the same quarter last year. On average, equities analysts expect that Extra Space Storage Inc. will post 8.09 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $1.62 per share. The ex-dividend date is Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.85%. Extra Space Storage’s payout ratio is presently 169.63%.

Insider Buying and Selling

In related 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 transaction of $350,660.00. Following the transaction, the executive vice president now directly owns 11,919 shares in the company, valued at approximately $2,089,758.27. The trade was a 14.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Diane Olmstead sold 3,081 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $164.56, for a total value of $507,009.36. Following the completion of the transaction, the director now directly owns 5,877 shares in the company, valued at approximately $967,119.12. This represents a 34.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,228 shares of company stock valued at $3,374,617 over the last ninety days. 1.36% of the stock is owned by corporate insiders.

Analyst Ratings Changes

EXR has been the topic of several research reports. Scotiabank upped their price target on Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a report on Thursday, August 22nd. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $175.00 target price on shares of Extra Space Storage in a report on Monday, October 21st. Barclays lifted their price target on Extra Space Storage from $188.00 to $192.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Truist Financial upped their price objective on shares of Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a research note on Friday, August 16th. Finally, Jefferies Financial Group raised shares of Extra Space Storage from a “hold” rating to a “buy” rating and lifted their target price for the stock from $162.00 to $204.00 in a research report on Wednesday, September 18th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $171.50.

About Extra Space Storage

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.