512 Shares in Extra Space Storage Inc. (NYSE:EXR) Purchased by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC bought a new position in shares of Extra Space Storage Inc. (NYSE:EXR) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 512 shares of the real estate investment trust’s stock, valued at approximately $80,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. EdgeRock Capital LLC purchased a new position in Extra Space Storage during the second quarter worth about $25,000. Creekmur Asset Management LLC purchased a new position in Extra Space Storage during the fourth quarter worth about $26,000. Centerpoint Advisors LLC bought a new stake in Extra Space Storage during the second quarter worth about $27,000. Blue Trust Inc. lifted its stake in Extra Space Storage by 540.5% during the second quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 200 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in Extra Space Storage by 2,760.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 276 shares during the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Extra Space Storage Stock Performance

Shares of EXR opened at $177.90 on Friday. The business’s fifty day simple moving average is $167.71 and its two-hundred day simple moving average is $153.47. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.76. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $179.23. The company has a market cap of $37.70 billion, a price-to-earnings ratio of 39.62, a P/E/G ratio of 2.56 and a beta of 0.86.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $1.62 per share. The ex-dividend date is Monday, September 16th. This represents a $6.48 annualized dividend and a yield of 3.64%. Extra Space Storage’s dividend payout ratio is 144.32%.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the 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 sale, the chief executive officer now directly owns 31,690 shares in the company, valued at approximately $4,835,260.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the 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 sale, the chief executive officer now directly owns 31,690 shares in the company, valued at approximately $4,835,260.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP William N. Springer sold 2,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total value of $350,660.00. Following the completion of the transaction, the executive vice president now directly owns 11,919 shares in the company, valued at approximately $2,089,758.27. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,323 shares of company stock worth $1,994,709. Insiders own 1.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Truist Financial boosted their target price on Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a research note on Friday, August 16th. Scotiabank upped their target price on Extra Space Storage from $159.00 to $169.00 and gave the stock a “sector underperform” rating in a report on Thursday, August 22nd. Bank of America downgraded Extra Space Storage from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $172.00 to $155.00 in a report on Monday, August 5th. Royal Bank of Canada initiated coverage on Extra Space Storage in a report on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 target price on the stock. Finally, Raymond James upped their target price on Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $168.36.

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.