MADDEN SECURITIES Corp Buys 780 Shares of Extra Space Storage Inc. (NYSE:EXR)

MADDEN SECURITIES Corp boosted its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 12.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 7,230 shares of the real estate investment trust’s stock after purchasing an additional 780 shares during the quarter. MADDEN SECURITIES Corp’s holdings in Extra Space Storage were worth $1,082,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EXR. Paladin Wealth LLC grew its position in shares of Extra Space Storage by 11.9% in the 4th quarter. Paladin Wealth LLC now owns 4,690 shares of the real estate investment trust’s stock worth $702,000 after buying an additional 500 shares during the last quarter. Global Wealth Management Investment Advisory Inc. boosted its stake in Extra Space Storage by 3.8% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 18,819 shares of the real estate investment trust’s stock valued at $2,815,000 after acquiring an additional 689 shares in the last quarter. Elser Financial Planning Inc purchased a new position in Extra Space Storage in the fourth quarter worth $231,000. Savant Capital LLC grew its holdings in Extra Space Storage by 1.9% in the fourth quarter. Savant Capital LLC now owns 5,157 shares of the real estate investment trust’s stock worth $771,000 after purchasing an additional 94 shares during the last quarter. Finally, Empowered Funds LLC increased its position in shares of Extra Space Storage by 8.2% during the fourth quarter. Empowered Funds LLC now owns 4,251 shares of the real estate investment trust’s stock worth $636,000 after purchasing an additional 323 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Up 0.3 %

EXR stock opened at $156.52 on Tuesday. The company has a market capitalization of $33.18 billion, a P/E ratio of 40.97, a price-to-earnings-growth ratio of 7.77 and a beta of 0.91. Extra Space Storage Inc. has a 12 month low of $131.02 and a 12 month high of $184.87. The firm’s fifty day simple moving average is $153.06 and its 200-day simple moving average is $164.20. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.14%. The ex-dividend date was Monday, December 16th. Extra Space Storage’s dividend payout ratio is currently 169.63%.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. The trade was a 31.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Diane Olmstead sold 3,081 shares of the company’s stock in a transaction that occurred 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 sale, the director now 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. 1.36% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

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.