HB Wealth Management LLC Buys 910 Shares of Extra Space Storage Inc. (NYSE:EXR)

HB Wealth Management LLC raised its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 59.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,447 shares of the real estate investment trust’s stock after acquiring an additional 910 shares during the period. HB Wealth Management LLC’s holdings in Extra Space Storage were worth $380,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. GSA Capital Partners LLP purchased a new position in Extra Space Storage during the fourth quarter valued at $3,304,000. State of Tennessee Treasury Department lifted its holdings in shares of Extra Space Storage by 252.1% during 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 last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Extra Space Storage by 19.3% in the 1st 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 in the last quarter. Norden Group LLC purchased a new stake in shares of Extra Space Storage in the 1st quarter worth approximately $1,947,000. Finally, Charles Schwab Investment Management Inc. increased its position in Extra Space Storage by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,198,631 shares of the real estate investment trust’s stock valued at $352,507,000 after buying an additional 54,393 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Transactions at Extra Space Storage

In other news, Director Joseph J. Bonner sold 677 shares of the company’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 directly owns 5,229 shares in the company, valued at approximately $775,042.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP William N. Springer sold 2,000 shares of Extra Space Storage stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total transaction of $350,660.00. Following the transaction, the executive vice president now owns 11,919 shares in the company, valued at approximately $2,089,758.27. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph J. Bonner sold 677 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $148.22, for a total transaction of $100,344.94. Following the completion of the transaction, the director now directly owns 5,229 shares of the company’s stock, valued at approximately $775,042.38. The disclosure for this sale can be found here. Insiders have sold 13,000 shares of company stock worth $2,095,054 in the last 90 days. 1.36% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on EXR shares. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Truist Financial increased their price objective on shares of Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Raymond James raised their price objective on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Evercore ISI upped their target price on shares of Extra Space Storage from $166.00 to $167.00 and gave the stock an “in-line” rating in a research note on Wednesday. Finally, Citigroup reduced their price target on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, June 7th. Two 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $166.58.

Extra Space Storage Stock Performance

Shares of EXR opened at $175.54 on Friday. The firm has a market capitalization of $37.17 billion, a P/E ratio of 39.10, a PEG ratio of 3.37 and a beta of 0.83. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.20 and a quick ratio of 0.15. Extra Space Storage Inc. has a one year low of $101.19 and a one year high of $179.23. The business has a fifty day moving average of $163.21 and a 200 day moving average of $150.69.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $1.62 dividend. The ex-dividend date is Monday, September 16th. This represents a $6.48 annualized dividend and a yield of 3.69%. Extra Space Storage’s payout ratio is presently 144.32%.

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.