DiNuzzo Private Wealth Inc. Buys New Shares in Extra Space Storage Inc. (NYSE:EXR)

DiNuzzo Private Wealth Inc. purchased a new position in shares of Extra Space Storage Inc. (NYSE:EXR) in the third quarter, according to its most recent filing with the SEC. The firm purchased 715 shares of the real estate investment trust’s stock, valued at approximately $129,000.

Several other hedge funds have also recently made changes to their positions in EXR. GAMMA Investing LLC grew its stake in Extra Space Storage by 32.2% during the first quarter. GAMMA Investing LLC now owns 1,051 shares of the real estate investment trust’s stock worth $154,000 after purchasing an additional 256 shares during the period. Czech National Bank lifted its holdings in shares of Extra Space Storage by 0.5% in the 1st quarter. Czech National Bank now owns 37,174 shares of the real estate investment trust’s stock worth $5,465,000 after purchasing an additional 170 shares in the last quarter. Gulf International Bank UK Ltd grew its position in Extra Space Storage by 0.7% in the 1st quarter. Gulf International Bank UK Ltd now owns 17,446 shares of the real estate investment trust’s stock valued at $2,564,000 after purchasing an additional 127 shares during the period. Ignite Planners LLC bought a new stake in Extra Space Storage during the 1st quarter valued at $702,000. Finally, Vert Asset Management LLC raised its holdings in Extra Space Storage by 1.1% during the first quarter. Vert Asset Management LLC now owns 86,495 shares of the real estate investment trust’s stock worth $12,715,000 after buying an additional 973 shares during the last quarter. 99.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EXR has been the subject of a number of analyst reports. Barclays lifted their price objective on shares of Extra Space Storage from $158.00 to $188.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Raymond James boosted their price objective on Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Royal Bank of Canada initiated coverage on Extra Space Storage in a report on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 target price on the stock. Jefferies Financial Group raised Extra Space Storage from a “hold” rating to a “buy” rating and increased their price target for the company from $162.00 to $204.00 in a research report on Wednesday, September 18th. Finally, Scotiabank lifted 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. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Extra Space Storage currently has a consensus rating of “Hold” and an average price target of $170.80.

Extra Space Storage Trading Down 1.2 %

NYSE:EXR opened at $170.10 on Friday. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $184.87. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.76. The firm’s 50 day moving average is $174.34 and its 200 day moving average is $158.74. The stock has a market capitalization of $36.01 billion, a PE ratio of 37.88, a price-to-earnings-growth ratio of 6.47 and a beta of 0.86.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $1.62 dividend. The ex-dividend date was Monday, September 16th. This represents a $6.48 annualized dividend and a dividend yield of 3.81%. Extra Space Storage’s payout ratio is presently 144.32%.

Insider Activity

In related news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $177.01, for a total value of $499,699.23. Following the sale, the executive vice president now directly owns 32,855 shares in the company, valued at approximately $5,815,663.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Gwyn Goodson Mcneal sold 2,823 shares of Extra Space Storage 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the business’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 completion of the sale, the chief executive officer now directly owns 24,190 shares in the company, valued at approximately $4,318,398.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,970 shares of company stock valued at $3,367,307 in the last 90 days. 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.