361 Shares in Extra Space Storage Inc. (NYSE:EXR) Bought by Kestra Investment Management LLC

Kestra Investment Management LLC purchased a new position in shares of Extra Space Storage Inc. (NYSE:EXR) during the fourth quarter, Holdings Channel.com reports. The fund purchased 361 shares of the real estate investment trust’s stock, valued at approximately $54,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Tidal Investments LLC boosted its holdings in Extra Space Storage by 34.4% during the third quarter. Tidal Investments LLC now owns 12,640 shares of the real estate investment trust’s stock worth $2,278,000 after buying an additional 3,234 shares in the last quarter. Swedbank AB boosted its holdings in Extra Space Storage by 4.5% during the third quarter. Swedbank AB now owns 243,130 shares of the real estate investment trust’s stock worth $43,810,000 after buying an additional 10,408 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Extra Space Storage by 724.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust’s stock worth $357,100,000 after buying an additional 1,741,320 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its holdings in Extra Space Storage by 9.5% during the third quarter. Duff & Phelps Investment Management Co. now owns 35,503 shares of the real estate investment trust’s stock worth $6,397,000 after buying an additional 3,093 shares in the last quarter. Finally, Brown Financial Advisors boosted its holdings in Extra Space Storage by 69.1% during the third quarter. Brown Financial Advisors now owns 9,134 shares of the real estate investment trust’s stock worth $1,646,000 after buying an additional 3,731 shares in the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the completion of the sale, the chief executive officer now directly owns 16,690 shares in the company, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.36% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on EXR. Scotiabank raised shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective on the stock in a report on Friday, January 10th. Barclays decreased their price objective on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. 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 report on Thursday, December 5th. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Finally, Wells Fargo & Company decreased their price objective 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $173.09.

Extra Space Storage Price Performance

Shares of NYSE EXR opened at $155.85 on Friday. The firm has a 50-day simple moving average of $151.65 and a 200-day simple moving average of $163.74. The stock has a market capitalization of $33.04 billion, a price-to-earnings ratio of 40.80, a price-to-earnings-growth ratio of 7.65 and a beta of 0.91. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.16%. Extra Space Storage’s dividend payout ratio (DPR) is 169.63%.

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.