Brentview Investment Management LLC Invests $2.85 Million in Extra Space Storage Inc. (NYSE:EXR)

Brentview Investment Management LLC bought a new position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 19,063 shares of the real estate investment trust's stock, valued at approximately $2,852,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Truist Financial Corp grew its stake in shares of Extra Space Storage by 15.6% in the 2nd quarter. Truist Financial Corp now owns 34,371 shares of the real estate investment trust's stock valued at $5,342,000 after purchasing an additional 4,641 shares during the period. Cetera Investment Advisers raised its stake in Extra Space Storage by 0.4% during the second quarter. Cetera Investment Advisers now owns 45,643 shares of the real estate investment trust's stock worth $7,093,000 after acquiring an additional 193 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Extra Space Storage during the second quarter valued at $2,631,000. Czech National Bank boosted its stake in shares of Extra Space Storage by 7.0% in the 3rd quarter. Czech National Bank now owns 43,172 shares of the real estate investment trust's stock valued at $7,779,000 after purchasing an additional 2,826 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of Extra Space Storage by 3.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 100,231 shares of the real estate investment trust's stock worth $18,061,000 after purchasing an additional 3,352 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.

Extra Space Storage Trading Up 2.0 %

Shares of EXR traded up $3.00 on Wednesday, reaching $155.00. 1,202,921 shares of the company's stock were exchanged, compared to its average volume of 1,338,988. The business has a 50 day moving average price of $154.06 and a two-hundred day moving average price of $164.39. Extra Space Storage Inc. has a 12 month low of $131.02 and a 12 month high of $184.87. The stock has a market capitalization of $32.86 billion, a P/E ratio of 40.58, a price-to-earnings-growth ratio of 7.67 and a beta of 0.91. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $1.62 dividend. The ex-dividend date was Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a yield of 4.18%. Extra Space Storage's dividend payout ratio is presently 169.63%.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated 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 transaction, the chief executive officer now owns 16,690 shares in the company, valued at $2,470,286.90. The trade was a 31.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Diane Olmstead sold 3,081 shares of the company's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $164.56, for a total transaction of $507,009.36. Following the completion of the transaction, the director now directly owns 5,877 shares of the company's stock, valued at approximately $967,119.12. The trade was a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.36% of the company's stock.

Wall Street Analyst Weigh In

EXR has been the topic of a number of recent analyst reports. Wells Fargo & Company restated an "equal weight" rating and issued a $175.00 price target on shares of Extra Space Storage in a research report on Monday, October 21st. Truist Financial increased their price target on Extra Space Storage from $167.00 to $168.00 and gave the stock a "hold" rating in a research report on Thursday, December 5th. Evercore ISI cut their price objective on Extra Space Storage from $170.00 to $168.00 and set an "in-line" rating for the company in a research report on Monday, October 14th. Scotiabank upgraded 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 report on Friday, January 10th. Finally, Barclays cut their price target on 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 assigned 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 a consensus price target of $174.00.

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.