RD Lewis Holdings Inc. Invests $1.89 Million in Extra Space Storage Inc. (NYSE:EXR)

RD Lewis Holdings Inc. purchased a new position in shares of Extra Space Storage Inc. (NYSE:EXR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 12,134 shares of the real estate investment trust’s stock, valued at approximately $1,893,000. Extra Space Storage accounts for approximately 2.2% of RD Lewis Holdings Inc.’s investment portfolio, making the stock its 14th biggest position.

A number of other institutional investors and hedge funds have also made changes to their positions in EXR. OneDigital Investment Advisors LLC acquired a new position in shares of Extra Space Storage during the 3rd quarter worth $210,000. CIBC Asset Management Inc grew its stake in shares of Extra Space Storage by 8.4% during the 3rd quarter. CIBC Asset Management Inc now owns 30,877 shares of the real estate investment trust’s stock worth $5,564,000 after purchasing an additional 2,399 shares during the period. Empowered Funds LLC grew its stake in shares of Extra Space Storage by 7.2% during the 3rd quarter. Empowered Funds LLC now owns 3,928 shares of the real estate investment trust’s stock worth $708,000 after purchasing an additional 264 shares during the period. Natixis Advisors LLC grew its stake in shares of Extra Space Storage by 2.0% during the 3rd quarter. Natixis Advisors LLC now owns 108,688 shares of the real estate investment trust’s stock worth $19,585,000 after purchasing an additional 2,095 shares during the period. Finally, Atlanta Consulting Group Advisors LLC acquired a new position in shares of Extra Space Storage during the 3rd quarter worth $247,000. 99.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on EXR shares. Royal Bank of Canada decreased their price objective on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Scotiabank decreased their price objective on shares of Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 5th. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Truist Financial boosted their price objective on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Finally, Wells Fargo & Company reduced their target price on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $171.09.

Insider Transactions at Extra Space Storage

In related news, Director Joseph J. Bonner sold 672 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $149.10, for a total transaction of $100,195.20. Following the completion of the sale, the director now owns 4,557 shares of the company’s stock, valued at approximately $679,448.70. This represents a 12.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the sale, the chief executive officer now directly owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,392 shares of company stock worth $1,396,515 in the last three months. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Trading Up 1.1 %

Shares of EXR stock opened at $146.52 on Tuesday. The firm has a market cap of $31.06 billion, a P/E ratio of 38.36, a PEG ratio of 7.76 and a beta of 0.90. Extra Space Storage Inc. has a 1-year low of $131.02 and a 1-year high of $184.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The firm’s 50-day simple moving average is $152.90 and its 200-day simple moving average is $161.80.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.93. The business had revenue of $821.90 million for the quarter, compared to analyst estimates of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. As a group, equities analysts forecast that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $1.62 per share. The ex-dividend date is Friday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.42%. Extra Space Storage’s payout ratio is currently 160.40%.

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.