Norden Group LLC Makes New Investment in Extra Space Storage Inc. (NYSE:EXR)

Norden Group LLC bought a new position in shares of Extra Space Storage Inc. (NYSE:EXR) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 13,247 shares of the real estate investment trust’s stock, valued at approximately $1,947,000.

Other large investors also recently bought and sold shares of the company. EdgeRock Capital LLC bought a new position in Extra Space Storage during the 4th quarter worth approximately $26,000. Creekmur Asset Management LLC bought a new position in Extra Space Storage during the 4th quarter worth approximately $26,000. Anchor Investment Management LLC bought a new position in Extra Space Storage during the 4th quarter worth approximately $35,000. Bruce G. Allen Investments LLC bought a new position in Extra Space Storage during the 4th quarter worth approximately $41,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Extra Space Storage by 200.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 300 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 200 shares during the period. Institutional investors own 99.11% of the company’s stock.

Analyst Ratings Changes

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

Extra Space Storage Stock Up 0.3 %

Shares of EXR stock opened at $154.20 on Friday. The stock has a market cap of $32.65 billion, a PE ratio of 34.34, a price-to-earnings-growth ratio of 3.25 and a beta of 0.83. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.15. The business’s fifty day moving average is $148.67 and its 200-day moving average is $146.98. Extra Space Storage Inc. has a 1 year low of $101.19 and a 1 year high of $164.99.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend was Friday, June 14th. Extra Space Storage’s dividend payout ratio is presently 144.32%.

Insider Transactions at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 31,690 shares of the company’s stock, valued at approximately $4,835,260.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Joseph J. Bonner sold 677 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $148.22, for a total value of $100,344.94. Following the completion of the sale, the director now owns 5,229 shares of the company’s stock, valued at $775,042.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $152.58, for a total value of $1,144,350.00. Following the completion of the sale, the chief executive officer now directly 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. Corporate 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.