Diamond Hill Capital Management Inc. reduced its position in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 5.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,817,511 shares of the real estate investment trust's stock after selling 148,127 shares during the quarter. Extra Space Storage makes up approximately 2.1% of Diamond Hill Capital Management Inc.'s portfolio, making the stock its 13th biggest position. Diamond Hill Capital Management Inc. owned 1.33% of Extra Space Storage worth $507,687,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. EdgeRock Capital LLC acquired a new stake in Extra Space Storage during the 2nd quarter worth approximately $25,000. Centerpoint Advisors LLC acquired a new position in Extra Space Storage in the second quarter valued at $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of Extra Space Storage during the 3rd quarter worth $33,000. Blue Trust Inc. lifted its position in Extra Space Storage by 540.5% during the second quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 200 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in Extra Space Storage by 2,760.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust's stock valued at $44,000 after purchasing an additional 276 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.
Wall Street Analysts Forecast Growth
EXR has been the topic of a number of analyst reports. KeyCorp increased their price objective on shares of Extra Space Storage from $172.00 to $178.00 and gave the stock an "overweight" rating in a report on Monday, September 9th. Truist Financial boosted their price target on shares of Extra Space Storage from $152.00 to $167.00 and gave the company a "hold" rating in a report on Friday, August 16th. Barclays upped their target price on Extra Space Storage from $188.00 to $192.00 and gave the stock an "overweight" rating in a research report on Monday, October 28th. Evercore ISI dropped their price objective on shares of Extra Space Storage from $170.00 to $168.00 and set an "in-line" rating on the stock in a report on Monday, October 14th. Finally, Wells Fargo & Company reissued an "equal weight" rating and issued a $175.00 target price on shares of Extra Space Storage in a research note on Monday, October 21st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $171.50.
Get Our Latest Research Report on Extra Space Storage
Extra Space Storage Stock Performance
EXR stock traded down $0.59 during midday trading on Monday, hitting $167.11. The company's stock had a trading volume of 213,010 shares, compared to its average volume of 1,034,613. The stock's 50-day moving average price is $172.62 and its 200 day moving average price is $161.82. The company has a quick ratio of 0.20, a current ratio of 0.23 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 stock has a market cap of $35.42 billion, a price-to-earnings ratio of 43.97, a PEG ratio of 6.31 and a beta of 0.87.
Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing analysts' consensus estimates of $2.03 by ($1.12). The firm had revenue of $824.80 million during the quarter, compared to the consensus estimate 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 revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.02 earnings per share. On average, equities analysts forecast that Extra Space Storage Inc. will post 8.08 EPS for the current year.
Extra Space Storage Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date was Monday, September 16th. Extra Space Storage's payout ratio is 169.63%.
Insider Transactions at Extra Space Storage
In other Extra Space Storage news, EVP William N. Springer sold 2,000 shares of Extra Space Storage stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total value of $350,660.00. Following the completion of the sale, the executive vice president now owns 11,919 shares of the company's stock, valued at approximately $2,089,758.27. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction 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 sale, the chief executive officer now directly owns 24,190 shares in the company, valued at $4,318,398.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William N. Springer sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total value of $350,660.00. Following the sale, the executive vice president now directly owns 11,919 shares of the company's stock, valued at $2,089,758.27. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,970 shares of company stock worth $3,367,307. 1.36% of the stock is currently owned by 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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