MBB Public Markets I LLC Acquires New Position in Extra Space Storage Inc. (NYSE:EXR)

MBB Public Markets I LLC bought a new position in shares of Extra Space Storage Inc. (NYSE:EXR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 15,175 shares of the real estate investment trust’s stock, valued at approximately $2,358,000.

Other hedge funds have also bought and sold shares of the company. GSA Capital Partners LLP purchased a new stake in shares of Extra Space Storage during the fourth quarter valued at $3,304,000. State of Tennessee Treasury Department increased its holdings in shares of Extra Space Storage by 252.1% in the fourth quarter. State of Tennessee Treasury Department now owns 114,819 shares of the real estate investment trust’s stock valued at $18,409,000 after purchasing an additional 82,207 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Extra Space Storage by 19.3% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 247,203 shares of the real estate investment trust’s stock worth $36,307,000 after purchasing an additional 40,055 shares during the last quarter. Norden Group LLC purchased a new position in shares of Extra Space Storage in the first quarter worth about $1,947,000. Finally, Gateway Investment Advisers LLC acquired a new stake in shares of Extra Space Storage during the second quarter worth about $16,026,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Price Performance

Shares of NYSE EXR opened at $177.23 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.20 and a current ratio of 0.20. The firm has a fifty day moving average of $171.51 and a 200 day moving average of $155.85. The firm has a market cap of $37.52 billion, a PE ratio of 39.47, a PEG ratio of 2.67 and a beta of 0.86. Extra Space Storage Inc. has a one year low of $101.19 and a one year high of $184.87.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Monday, September 16th. Extra Space Storage’s dividend payout ratio is presently 144.32%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on EXR shares. Bank of America downgraded shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $172.00 to $155.00 in a report on Monday, August 5th. Jefferies Financial Group upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and boosted their target price for the company from $162.00 to $204.00 in a research report on Wednesday, September 18th. KeyCorp upped their price target on shares of Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Raymond James lifted their price objective on Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Finally, Barclays upped their target price on Extra Space Storage from $158.00 to $188.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Extra Space Storage has an average rating of “Hold” and an average target price of $170.93.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the completion of the transaction, the chief executive officer now owns 31,690 shares of the company’s stock, valued at $4,835,260.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the completion of the sale, the chief executive officer now owns 31,690 shares of the company’s stock, valued at $4,835,260.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Gwyn Goodson Mcneal sold 2,823 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $177.01, for a total transaction of $499,699.23. Following the completion of the transaction, the executive vice president now directly owns 32,855 shares in the company, valued at $5,815,663.55. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,970 shares of company stock worth $3,172,757. Insiders own 1.36% of the company’s stock.

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.