CoreCap Advisors LLC Invests $370,000 in Extra Space Storage Inc. (NYSE:EXR)

CoreCap Advisors LLC purchased a new position in shares of Extra Space Storage Inc. (NYSE:EXR) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,383 shares of the real estate investment trust’s stock, valued at approximately $370,000.

A number of other hedge funds also recently bought and sold shares of EXR. EdgeRock Capital LLC purchased a new stake in shares of Extra Space Storage in the second quarter valued at approximately $25,000. Creekmur Asset Management LLC acquired a new position in Extra Space Storage during the fourth quarter worth $26,000. Centerpoint Advisors LLC purchased a new stake in Extra Space Storage in the 2nd quarter valued at $27,000. Blue Trust Inc. increased its stake in shares of Extra Space Storage by 540.5% in the 2nd quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 200 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Extra Space Storage by 2,760.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 276 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Stock Performance

NYSE EXR opened at $177.90 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.20 and a quick ratio of 0.20. The company has a market cap of $37.70 billion, a P/E ratio of 39.62, a P/E/G ratio of 2.56 and a beta of 0.86. The stock has a 50-day moving average of $167.71 and a two-hundred day moving average of $153.47. Extra Space Storage Inc. has a 1-year low of $101.19 and a 1-year high of $179.23.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend is Monday, September 16th. Extra Space Storage’s dividend payout ratio (DPR) is currently 144.32%.

Analyst Ratings Changes

A number of brokerages recently issued reports on EXR. Wells Fargo & Company upped their price objective on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Raymond James raised their price target on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Scotiabank increased their price objective on Extra Space Storage from $159.00 to $169.00 and gave the stock a “sector underperform” rating in a research report on Thursday, August 22nd. Finally, Citigroup reduced their target price 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. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $168.36.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $152.58, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company’s 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 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 available through the SEC website. Also, EVP William N. Springer sold 2,000 shares of Extra Space Storage 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 owns 11,919 shares of the company’s stock, valued at approximately $2,089,758.27. The disclosure for this sale can be found here. Insiders have sold a total of 12,323 shares of company stock valued at $1,994,709 in the last ninety days. Company insiders own 1.36% of the company’s stock.

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.