3,848 Shares in Extra Space Storage Inc. (NYSE:EXR) Purchased by CWA Asset Management Group LLC

CWA Asset Management Group LLC acquired a new stake in Extra Space Storage Inc. (NYSE:EXR - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,848 shares of the real estate investment trust's stock, valued at approximately $693,000.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Extra Space Storage by 0.5% in the first quarter. Vanguard Group Inc. now owns 33,686,389 shares of the real estate investment trust's stock valued at $4,951,899,000 after buying an additional 170,380 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Extra Space Storage by 4.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,549,231 shares of the real estate investment trust's stock valued at $551,586,000 after purchasing an additional 157,763 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Extra Space Storage by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,127,012 shares of the real estate investment trust's stock worth $485,973,000 after buying an additional 45,717 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in Extra Space Storage by 7.2% during the second quarter. Diamond Hill Capital Management Inc. now owns 2,965,638 shares of the real estate investment trust's stock worth $460,890,000 after buying an additional 198,888 shares during the period. Finally, Centersquare Investment Management LLC increased its holdings in Extra Space Storage by 1.3% in the first quarter. Centersquare Investment Management LLC now owns 2,546,475 shares of the real estate investment trust's stock valued at $341,941,000 after buying an additional 32,591 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Insiders Place Their Bets

In other news, EVP Gwyn Goodson Mcneal sold 2,823 shares of Extra Space Storage stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $177.01, for a total transaction of $499,699.23. Following the transaction, the executive vice president now directly owns 32,855 shares in the company, valued at approximately $5,815,663.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other 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 completion of the sale, the chief executive officer now directly owns 24,190 shares of the company's stock, valued at $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, EVP Gwyn Goodson Mcneal sold 2,823 shares of the business's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $177.01, for a total value of $499,699.23. Following the completion of the transaction, the executive vice president now owns 32,855 shares in the company, valued at $5,815,663.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,970 shares of company stock worth $3,367,307. 1.36% of the stock is owned by company insiders.

Extra Space Storage Stock Down 1.2 %

NYSE EXR traded down $2.06 during mid-day trading on Monday, reaching $165.64. 392,006 shares of the company's stock traded hands, compared to its average volume of 1,035,434. The company has a current ratio of 0.23, a quick ratio of 0.20 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 1-year low of $116.23 and a 1-year high of $184.87. The company has a fifty day simple moving average of $172.62 and a 200-day simple moving average of $161.82. The company has a market cap of $35.11 billion, a price-to-earnings ratio of 43.97, a P/E/G ratio of 6.31 and a beta of 0.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($1.12). Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company had revenue of $824.80 million during the quarter, compared to the consensus estimate of $826.93 million. During the same period in the previous year, the firm posted $2.02 EPS. Extra Space Storage's revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities research analysts expect that Extra Space Storage Inc. will post 8.08 EPS for the current year.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $1.62 dividend. The ex-dividend date was Monday, September 16th. This represents a $6.48 annualized dividend and a yield of 3.91%. Extra Space Storage's dividend payout ratio is presently 169.63%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. KeyCorp boosted their target price on Extra Space Storage from $172.00 to $178.00 and gave the stock an "overweight" rating in a research report on Monday, September 9th. Barclays upped their target price on shares of Extra Space Storage from $188.00 to $192.00 and gave the company an "overweight" rating in a report on Monday, October 28th. StockNews.com lowered shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research report on Thursday, October 31st. Bank of America lowered Extra Space Storage from a "neutral" rating to an "underperform" rating and reduced their price target for the stock from $172.00 to $155.00 in a research note on Monday, August 5th. Finally, Scotiabank upped their target price on Extra Space Storage from $159.00 to $169.00 and gave the company a "sector underperform" rating in a research note on Thursday, August 22nd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $171.50.

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.