CHURCHILL MANAGEMENT Corp boosted its position in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 4.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,249 shares of the real estate investment trust's stock after acquiring an additional 2,569 shares during the quarter. CHURCHILL MANAGEMENT Corp's holdings in Extra Space Storage were worth $8,714,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Extra Space Storage during the third quarter worth about $33,000. Harvest Fund Management Co. Ltd purchased a new stake in Extra Space Storage during the 3rd quarter worth approximately $42,000. Continuum Advisory LLC lifted its holdings in Extra Space Storage by 68.1% during the 3rd quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust's stock worth $56,000 after buying an additional 126 shares in the last quarter. Sunbelt Securities Inc. boosted its position in Extra Space Storage by 441.2% in the 2nd quarter. Sunbelt Securities Inc. now owns 617 shares of the real estate investment trust's stock valued at $96,000 after buying an additional 503 shares during the period. Finally, DiNuzzo Private Wealth Inc. acquired a new position in shares of Extra Space Storage in the third quarter worth $129,000. 99.11% of the stock is owned by institutional investors and hedge funds.
Extra Space Storage Price Performance
EXR traded up $2.14 during midday trading on Thursday, reaching $151.63. 1,685,331 shares of the company's stock were exchanged, compared to its average volume of 1,128,023. Extra Space Storage Inc. has a 1-year low of $131.02 and a 1-year high of $184.87. The stock has a market capitalization of $32.14 billion, a PE ratio of 39.69, a P/E/G ratio of 7.18 and a beta of 0.91. 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 business's 50-day moving average price is $157.58 and its 200 day moving average price is $164.84.
Extra Space Storage (NYSE:EXR - Get Free Report) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.03 by ($1.12). The company 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%. Extra Space Storage's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.02 EPS. As a group, equities analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.
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 paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date was Monday, December 16th. Extra Space Storage's payout ratio is currently 169.63%.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on EXR shares. Evercore ISI decreased their target price on Extra Space Storage from $170.00 to $168.00 and set an "in-line" rating for the company in a report on Monday, October 14th. Jefferies Financial Group upgraded Extra Space Storage from a "hold" rating to a "buy" rating and lifted their price objective for the company from $162.00 to $204.00 in a research note on Wednesday, September 18th. Truist Financial upped 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 note on Thursday, December 5th. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $175.00 target price on shares of Extra Space Storage in a report on Monday, October 21st. Finally, Scotiabank upgraded shares of Extra Space Storage from a "sector underperform" rating to a "sector perform" rating and set a $167.00 price target for the company in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $171.25.
Check Out Our Latest Research Report on Extra Space Storage
Insider Buying and Selling
In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the sale, the chief executive officer now directly owns 16,690 shares of the company's stock, valued at approximately $2,470,286.90. The trade was a 31.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Diane Olmstead sold 3,081 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $164.56, for a total value of $507,009.36. Following the transaction, the director now directly owns 5,877 shares in the company, valued at approximately $967,119.12. This represents a 34.39 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by company insiders.
Extra Space Storage Company Profile
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Free Report)
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.
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