Extra Space Storage Inc. (NYSE:EXR) Shares Bought by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lifted its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,138 shares of the real estate investment trust’s stock after buying an additional 68 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Extra Space Storage were worth $769,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Carnegie Investment Counsel acquired a new stake in shares of Extra Space Storage during the 4th quarter worth $266,000. CHURCHILL MANAGEMENT Corp increased its holdings in Extra Space Storage by 4.6% in the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 58,249 shares of the real estate investment trust’s stock valued at $8,714,000 after purchasing an additional 2,569 shares in the last quarter. Park Avenue Securities LLC grew its stake in shares of Extra Space Storage by 20.2% in the fourth quarter. Park Avenue Securities LLC now owns 4,273 shares of the real estate investment trust’s stock valued at $639,000 after buying an additional 719 shares in the last quarter. Oak Thistle LLC purchased a new position in Extra Space Storage in the 4th quarter worth approximately $399,000. Finally, Ignite Planners LLC boosted its stake in shares of Extra Space Storage by 3.9% in the fourth quarter. Ignite Planners LLC now owns 4,765 shares of the real estate investment trust’s stock valued at $720,000 after purchasing an additional 181 shares during the period. 99.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on EXR shares. Wells Fargo & Company restated an “equal weight” rating and set a $175.00 price objective on shares of Extra Space Storage in a report on Monday, October 21st. Scotiabank upgraded Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective on the stock in a research note on Friday, January 10th. Barclays cut their target price on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Truist Financial raised their target price 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. Finally, StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Extra Space Storage presently has an average rating of “Hold” and an average price target of $171.25.

Insider Buying and Selling

In other Extra Space Storage news, Director Diane Olmstead sold 3,081 shares of Extra Space Storage 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 owns 5,877 shares in the company, valued at approximately $967,119.12. The trade was a 34.39 % decrease in their position. The sale 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 stock in a transaction dated 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 sale, the chief executive officer now directly owns 16,690 shares in the company, 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. 1.36% of the stock is owned by company insiders.

Extra Space Storage Price Performance

NYSE EXR opened at $151.85 on Wednesday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $32.19 billion, a PE ratio of 39.75, a price-to-earnings-growth ratio of 7.50 and a beta of 0.91. Extra Space Storage Inc. has a 12-month low of $131.02 and a 12-month high of $184.87. The company has a 50 day moving average price of $156.95 and a two-hundred day moving average price of $164.96.

Extra Space Storage (NYSE:EXR) last posted 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 net margin of 25.35% and a return on equity of 5.51%. The firm had revenue of $824.80 million during the quarter, compared to analyst estimates of $826.93 million. During the same quarter in the previous year, the business posted $2.02 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend was Monday, December 16th. Extra Space Storage’s payout ratio is presently 169.63%.

Extra Space Storage 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.