Liberty One Investment Management LLC Purchases 2,118 Shares of Extra Space Storage Inc. (NYSE:EXR)

Liberty One Investment Management LLC raised its stake in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 8.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,387 shares of the real estate investment trust's stock after buying an additional 2,118 shares during the period. Liberty One Investment Management LLC's holdings in Extra Space Storage were worth $4,247,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of EXR. Ashton Thomas Securities LLC purchased a new position in shares of Extra Space Storage in the third quarter worth approximately $33,000. Harvest Fund Management Co. Ltd acquired a new position in Extra Space Storage in the 3rd quarter worth approximately $42,000. Continuum Advisory LLC grew its position 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 purchasing an additional 126 shares in the last quarter. Sunbelt Securities Inc. raised its stake in Extra Space Storage by 441.2% during the 2nd quarter. Sunbelt Securities Inc. now owns 617 shares of the real estate investment trust's stock valued at $96,000 after purchasing an additional 503 shares during the period. Finally, DiNuzzo Private Wealth Inc. purchased a new stake in shares of Extra Space Storage in the third quarter valued at $129,000. Institutional investors and hedge funds own 99.11% of the company's stock.

Extra Space Storage Price Performance

Shares of EXR stock traded down $0.85 during mid-day trading on Monday, reaching $150.75. The company's stock had a trading volume of 1,183,666 shares, compared to its average volume of 882,980. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The firm's 50-day moving average is $156.95 and its two-hundred day moving average is $164.96. Extra Space Storage Inc. has a 1-year low of $131.02 and a 1-year high of $184.87. The company has a market cap of $31.96 billion, a P/E ratio of 39.46, a PEG ratio of 7.18 and a beta of 0.91.

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 earnings per share for the quarter, missing analysts' consensus estimates of $2.03 by ($1.12). Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The company had revenue of $824.80 million for the quarter, compared to analyst estimates of $826.93 million. During the same period in the previous year, the firm posted $2.02 earnings per share. The firm's revenue for the quarter was up 10.2% compared to the same quarter last year. On average, research analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $6.48 annualized dividend and a yield of 4.30%. Extra Space Storage's dividend payout ratio is currently 169.63%.

Wall Street Analyst Weigh In

EXR has been the topic of a number of research analyst reports. Scotiabank upgraded Extra Space Storage from a "sector underperform" rating to a "sector perform" rating and set a $167.00 price target on the stock in a report on Friday, January 10th. Truist Financial upped their target price on Extra Space Storage from $167.00 to $168.00 and gave the company a "hold" rating in a report on Thursday, December 5th. Wells Fargo & Company reissued an "equal weight" rating and issued a $175.00 price target on shares of Extra Space Storage in a research report on Monday, October 21st. Evercore ISI lowered 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 research report on Monday, October 14th. Finally, StockNews.com downgraded shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Extra Space Storage currently has a consensus rating of "Hold" and a consensus target price of $171.25.

Insider Buying and Selling at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total transaction 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 $2,470,286.90. This trade represents a 31.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value of $507,009.36. Following the completion of 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. Company insiders own 1.36% of the company's stock.

About Extra Space Storage

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.