Hamlin Capital Management LLC Purchases 84,757 Shares of Extra Space Storage Inc. (NYSE:EXR)

Hamlin Capital Management LLC boosted its position in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 11.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 850,800 shares of the real estate investment trust's stock after buying an additional 84,757 shares during the period. Extra Space Storage makes up 3.2% of Hamlin Capital Management LLC's holdings, making the stock its 21st biggest holding. Hamlin Capital Management LLC owned about 0.40% of Extra Space Storage worth $127,280,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of EXR. Gilman Hill Asset Management LLC boosted its position in shares of Extra Space Storage by 13.3% during the 4th quarter. Gilman Hill Asset Management LLC now owns 1,492 shares of the real estate investment trust's stock valued at $223,000 after purchasing an additional 175 shares in the last quarter. Liberty One Investment Management LLC boosted its holdings in shares of Extra Space Storage by 8.1% during the 4th quarter. Liberty One Investment Management LLC now owns 28,387 shares of the real estate investment trust's stock worth $4,247,000 after buying an additional 2,118 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Extra Space Storage during the 4th quarter worth approximately $717,000. Arkadios Wealth Advisors increased its stake in shares of Extra Space Storage by 9.5% in the 4th quarter. Arkadios Wealth Advisors now owns 6,182 shares of the real estate investment trust's stock valued at $925,000 after acquiring an additional 534 shares in the last quarter. Finally, Merit Financial Group LLC lifted its position in shares of Extra Space Storage by 163.0% during the 4th quarter. Merit Financial Group LLC now owns 3,124 shares of the real estate investment trust's stock valued at $467,000 after acquiring an additional 1,936 shares during the period. Institutional investors own 99.11% of the company's stock.

Insiders Place Their Bets

In related news, Director Diane Olmstead sold 3,081 shares of the business'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 sale, the director now directly owns 5,877 shares in the company, valued at approximately $967,119.12. The trade was a 34.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the transaction, the chief executive officer now owns 16,690 shares of the company's stock, valued at approximately $2,470,286.90. This represents a 31.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.36% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on EXR shares. 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. StockNews.com downgraded Extra Space Storage from a "hold" rating to a "sell" rating in a research note on Thursday, October 31st. Truist Financial raised their price objective on Extra Space Storage from $167.00 to $168.00 and gave the company a "hold" rating in a research note on Thursday, December 5th. Evercore ISI decreased their price objective 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. Finally, Barclays cut their target price on Extra Space Storage from $192.00 to $184.00 and set an "overweight" rating on the stock in a report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Extra Space Storage currently has an average rating of "Hold" and an average price target of $171.25.

Extra Space Storage Stock Performance

Shares of EXR stock traded up $1.25 during trading hours on Tuesday, hitting $151.85. 870,417 shares of the company were exchanged, compared to its average volume of 1,111,183. 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 stock has a market capitalization of $32.19 billion, a price-to-earnings ratio of 39.75, a P/E/G ratio of 7.50 and a beta of 0.91. The firm has a fifty day simple moving average of $156.95 and a 200 day simple moving average of $164.96. 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 released 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). Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The firm had revenue of $824.80 million during the quarter, compared to analysts' expectations of $826.93 million. During the same period in the prior year, the business earned $2.02 earnings per share. The business's quarterly revenue was up 10.2% compared to the same quarter last year. Research analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.27%. The ex-dividend date was Monday, December 16th. Extra Space Storage's dividend payout ratio (DPR) is presently 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.