Fulcrum Capital LLC Makes New Investment in Extra Space Storage Inc. (NYSE:EXR)

Fulcrum Capital LLC purchased a new stake in shares of Extra Space Storage Inc. (NYSE:EXR) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,487 shares of the real estate investment trust’s stock, valued at approximately $268,000.

A number of other large investors have also recently modified their holdings of EXR. Boston Partners bought a new stake in Extra Space Storage during the 1st quarter valued at $130,554,000. Janus Henderson Group PLC raised its holdings in shares of 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 valued at $87,824,000 after acquiring an additional 572,231 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Extra Space Storage by 43.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,557,135 shares of the real estate investment trust’s stock valued at $228,899,000 after acquiring an additional 473,559 shares in the last quarter. American Century Companies Inc. lifted its stake in Extra Space Storage by 543.5% in the second quarter. American Century Companies Inc. now owns 397,170 shares of the real estate investment trust’s stock worth $61,724,000 after acquiring an additional 335,447 shares during the period. Finally, Swedbank AB bought a new position in Extra Space Storage during the 1st quarter worth about $33,912,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Price Performance

Shares of EXR opened at $169.06 on Thursday. The firm has a market capitalization of $35.79 billion, a PE ratio of 37.65, a price-to-earnings-growth ratio of 6.47 and a beta of 0.86. 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 company’s fifty day moving average price is $174.54 and its 200-day moving average price is $159.45. Extra Space Storage Inc. has a 1-year low of $101.19 and a 1-year high of $184.87.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date was Monday, September 16th. Extra Space Storage’s dividend payout ratio is presently 144.32%.

Insider Buying and Selling

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total value of $1,338,900.00. Following the transaction, the chief executive officer now owns 24,190 shares in the company, valued at approximately $4,318,398.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total value of $1,338,900.00. Following the sale, the chief executive officer now directly owns 24,190 shares of the company’s stock, valued at approximately $4,318,398.80. This represents a 0.00 % 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 Kenneth M. Woolley sold 6,647 shares of Extra Space Storage stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $177.23, for a total value of $1,178,047.81. Following the transaction, the director now owns 404,306 shares of the company’s stock, valued at $71,655,152.38. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,970 shares of company stock valued at $3,367,307 over the last quarter. 1.36% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

EXR has been the subject of several research reports. Bank of America cut shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $172.00 to $155.00 in a research report on Monday, August 5th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $175.00 target price on shares of Extra Space Storage in a research report on Monday. Truist Financial boosted their price target on Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Jefferies Financial Group raised Extra Space Storage from a “hold” rating to a “buy” rating and raised their price objective for the company from $162.00 to $204.00 in a research report on Wednesday, September 18th. Finally, KeyCorp lifted their target price on Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Extra Space Storage has an average rating of “Hold” and a consensus price target of $170.80.

Extra Space Storage 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.