Donaldson Capital Management LLC Acquires 103,449 Shares of Extra Space Storage Inc. (NYSE:EXR)

Donaldson Capital Management LLC boosted its stake in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 59.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 278,152 shares of the real estate investment trust's stock after purchasing an additional 103,449 shares during the period. Extra Space Storage makes up approximately 1.9% of Donaldson Capital Management LLC's portfolio, making the stock its 23rd biggest holding. Donaldson Capital Management LLC owned approximately 0.13% of Extra Space Storage worth $50,120,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its holdings in Extra Space Storage by 8.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,636 shares of the real estate investment trust's stock valued at $1,122,000 after buying an additional 583 shares during the period. First Trust Direct Indexing L.P. lifted its holdings in shares of Extra Space Storage by 39.1% during the 1st quarter. First Trust Direct Indexing L.P. now owns 3,640 shares of the real estate investment trust's stock valued at $535,000 after acquiring an additional 1,023 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Extra Space Storage by 15.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 43,086 shares of the real estate investment trust's stock worth $6,388,000 after purchasing an additional 5,703 shares during the period. BNP Paribas Financial Markets boosted its position in Extra Space Storage by 9.5% during the 1st quarter. BNP Paribas Financial Markets now owns 288,872 shares of the real estate investment trust's stock worth $42,464,000 after purchasing an additional 25,164 shares during the period. Finally, Janney Montgomery Scott LLC increased its holdings in Extra Space Storage by 6.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 91,903 shares of the real estate investment trust's stock valued at $13,510,000 after purchasing an additional 5,490 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the completion of the sale, the chief executive officer now owns 24,190 shares of the company's stock, valued at $4,318,398.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Kenneth M. Woolley sold 6,647 shares of the business's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $177.23, for a total value of $1,178,047.81. Following the completion of the sale, the director now owns 404,306 shares of the company's stock, valued at approximately $71,655,152.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the transaction, the chief executive officer now directly owns 24,190 shares in the company, valued at approximately $4,318,398.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,970 shares of company stock valued at $3,367,307. Corporate insiders own 1.36% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on EXR. Evercore ISI lowered their target price on Extra Space Storage from $170.00 to $168.00 and set an "in-line" rating for the company in a research note on Monday, October 14th. Raymond James lifted their price objective on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an "outperform" rating in a research note on Tuesday, July 23rd. Barclays boosted their target price on shares of Extra Space Storage from $188.00 to $192.00 and gave the stock an "overweight" rating in a research report on Monday, October 28th. Jefferies Financial Group raised shares of Extra Space Storage from a "hold" rating to a "buy" rating and raised their price target for the company from $162.00 to $204.00 in a report on Wednesday, September 18th. Finally, Scotiabank boosted their price objective on shares of Extra Space Storage from $159.00 to $169.00 and gave the stock a "sector underperform" rating in a report on Thursday, August 22nd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Extra Space Storage currently has a consensus rating of "Hold" and an average price target of $171.07.

Extra Space Storage Trading Up 1.5 %

NYSE EXR traded up $2.39 on Monday, hitting $163.52. 1,160,314 shares of the stock were exchanged, compared to its average volume of 1,039,530. The company's 50-day moving average price is $173.50 and its two-hundred day moving average price is $160.92. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.20. Extra Space Storage Inc. has a 52-week low of $104.88 and a 52-week high of $184.87. The company has a market capitalization of $34.65 billion, a price-to-earnings ratio of 42.81, a P/E/G ratio of 6.14 and a beta of 0.88.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings results 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). The business had revenue of $824.80 million for 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%. The business's quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.02 EPS. Research analysts predict that Extra Space Storage Inc. will post 8.08 EPS for the current year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.96%. The ex-dividend date of this dividend was Monday, September 16th. Extra Space Storage's dividend payout ratio is currently 169.63%.

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.