Extra Space Storage Inc. (NYSE:EXR) Shares Bought by Brown Financial Advisors

Brown Financial Advisors lifted its holdings in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 69.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,134 shares of the real estate investment trust's stock after purchasing an additional 3,731 shares during the quarter. Brown Financial Advisors' holdings in Extra Space Storage were worth $1,646,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in EXR. Wealth Enhancement Advisory Services LLC raised its holdings in Extra Space Storage by 53.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,738 shares of the real estate investment trust's stock valued at $1,824,000 after acquiring an additional 4,102 shares in the last quarter. Swedbank AB raised 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 purchasing an additional 10,408 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 purchasing an additional 1,741,320 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Extra Space Storage by 5.9% during the second quarter. Victory Capital Management Inc. now owns 141,936 shares of the real estate investment trust's stock worth $22,058,000 after purchasing an additional 7,898 shares in the last quarter. Finally, Donaldson Capital Management LLC raised its holdings in Extra Space Storage by 59.2% during the third quarter. Donaldson Capital Management LLC now owns 278,152 shares of the real estate investment trust's stock worth $50,120,000 after purchasing an additional 103,449 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on EXR. Royal Bank of Canada began coverage on shares of Extra Space Storage in a report on Tuesday, September 10th. They set a "sector perform" rating and a $180.00 price objective on the stock. StockNews.com cut shares of Extra Space Storage from a "hold" rating to a "sell" rating in a report on Thursday, October 31st. Scotiabank lowered their target price on shares of Extra Space Storage from $169.00 to $167.00 and set a "sector underperform" rating on the stock in a research report on Monday, November 25th. Wells Fargo & Company reiterated 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. Finally, Truist Financial boosted their target price 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. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Extra Space Storage currently has an average rating of "Hold" and a consensus target price of $171.43.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total value of $1,338,900.00. Following the completion of the transaction, the chief executive officer now owns 24,190 shares in the company, valued at $4,318,398.80. This represents a 23.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth M. Woolley sold 6,647 shares of the company's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $177.23, for a total value of $1,178,047.81. Following the completion of the transaction, the director now owns 404,306 shares of the company's stock, valued at approximately $71,655,152.38. This represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,228 shares of company stock worth $3,023,957. 1.36% of the stock is currently owned by company insiders.

Extra Space Storage Trading Down 2.5 %

EXR traded down $4.11 during midday trading on Tuesday, hitting $160.40. The company's stock had a trading volume of 1,379,944 shares, compared to its average volume of 1,023,852. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The firm has a market cap of $34.00 billion, a P/E ratio of 41.99, a PEG ratio of 8.23 and a beta of 0.89. The firm has a 50-day moving average price of $167.84 and a two-hundred day moving average price of $165.23. Extra Space Storage Inc. has a 52-week low of $131.02 and a 52-week high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing the consensus estimate of $2.03 by ($1.12). The business had revenue of $824.80 million during the quarter, compared to analysts' expectations of $826.93 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The firm's quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.02 EPS. On average, research analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Monday, December 16th. Extra Space Storage's payout ratio is currently 169.63%.

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.