Extra Space Storage Inc. (NYSE:EXR) Stake Increased by Marshall Financial Group LLC

Marshall Financial Group LLC grew its holdings in Extra Space Storage Inc. (NYSE:EXR) by 9.9% in the first quarter, Holdings Channel.com reports. The firm owned 6,361 shares of the real estate investment trust’s stock after purchasing an additional 575 shares during the period. Marshall Financial Group LLC’s holdings in Extra Space Storage were worth $935,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Whittier Trust Co. lifted its holdings in shares of Extra Space Storage by 4.5% in the fourth quarter. Whittier Trust Co. now owns 1,656 shares of the real estate investment trust’s stock valued at $266,000 after purchasing an additional 72 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Extra Space Storage by 19.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 706 shares of the real estate investment trust’s stock worth $113,000 after acquiring an additional 113 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Extra Space Storage by 30.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 515 shares of the real estate investment trust’s stock worth $83,000 after acquiring an additional 119 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of Extra Space Storage by 0.6% during the fourth quarter. Private Advisor Group LLC now owns 21,563 shares of the real estate investment trust’s stock worth $3,457,000 after acquiring an additional 119 shares in the last quarter. Finally, Gulf International Bank UK Ltd raised its holdings in shares of Extra Space Storage by 0.7% during the first quarter. Gulf International Bank UK Ltd now owns 17,446 shares of the real estate investment trust’s stock worth $2,564,000 after acquiring an additional 127 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Buying and Selling

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated 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 sale, the chief executive officer now directly owns 31,690 shares of the company’s stock, valued at $4,835,260.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Joseph J. Bonner sold 677 shares of Extra Space Storage stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $148.22, for a total value of $100,344.94. Following the completion of the transaction, the director now owns 5,229 shares in the company, valued at $775,042.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred 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 transaction, the chief executive officer now owns 31,690 shares of the company’s stock, valued at approximately $4,835,260.20. The disclosure for this sale can be found here. 1.36% of the stock is owned by company insiders.

Extra Space Storage Trading Up 0.3 %

Shares of NYSE:EXR opened at $154.20 on Friday. The company has a market cap of $32.65 billion, a P/E ratio of 34.34, a P/E/G ratio of 3.25 and a beta of 0.83. The stock’s 50-day moving average is $148.67 and its 200-day moving average is $146.98. Extra Space Storage Inc. has a 52-week low of $101.19 and a 52-week high of $164.99. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.15.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend was Friday, June 14th. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.32%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Citigroup cut their price objective on Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, June 7th. Barclays increased their price objective on Extra Space Storage from $157.00 to $158.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Wells Fargo & Company increased their price objective on Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Evercore ISI cut their price objective on Extra Space Storage from $145.00 to $139.00 in a report on Wednesday, May 1st. Finally, Raymond James reissued an “outperform” rating and set a $160.00 target price on shares of Extra Space Storage in a research report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $151.83.

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.