One Capital Management LLC Invests $867,000 in Extra Space Storage Inc. (NYSE:EXR)

One Capital Management LLC bought a new position in shares of Extra Space Storage Inc. (NYSE:EXR) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,582 shares of the real estate investment trust’s stock, valued at approximately $867,000.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Extra Space Storage by 0.5% during the first quarter. Vanguard Group Inc. now owns 33,686,389 shares of the real estate investment trust’s stock worth $4,951,899,000 after buying an additional 170,380 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Extra Space Storage by 4.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,549,231 shares of the real estate investment trust’s stock worth $551,586,000 after buying an additional 157,763 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Extra Space Storage by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,127,012 shares of the real estate investment trust’s stock worth $485,973,000 after buying an additional 45,717 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in Extra Space Storage by 7.2% during the second quarter. Diamond Hill Capital Management Inc. now owns 2,965,638 shares of the real estate investment trust’s stock worth $460,890,000 after buying an additional 198,888 shares in the last quarter. Finally, Centersquare Investment Management LLC grew its holdings in Extra Space Storage by 1.3% during the first quarter. Centersquare Investment Management LLC now owns 2,546,475 shares of the real estate investment trust’s stock worth $341,941,000 after buying an additional 32,591 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on EXR shares. Raymond James upped their price target on Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Truist Financial upped their price target on Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Barclays upped their price target on Extra Space Storage from $158.00 to $188.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Royal Bank of Canada initiated coverage on Extra Space Storage in a research note on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 price objective for the company. Finally, KeyCorp upped their price objective on Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $168.57.

Extra Space Storage Stock Up 0.8 %

EXR stock opened at $179.02 on Wednesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.20 and a current ratio of 0.20. The company has a market capitalization of $37.90 billion, a price-to-earnings ratio of 39.87, a PEG ratio of 2.56 and a beta of 0.86. Extra Space Storage Inc. has a fifty-two week low of $101.19 and a fifty-two week high of $179.42. The stock has a fifty day moving average of $168.68 and a 200-day moving average of $154.08.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders 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 dividend yield of 3.62%. Extra Space Storage’s payout ratio is 144.32%.

Insider Buying and Selling

In related news, EVP William N. Springer sold 2,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total transaction of $350,660.00. Following the sale, the executive vice president now owns 11,919 shares of the company’s stock, valued at approximately $2,089,758.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP William N. Springer sold 2,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total transaction of $350,660.00. Following the sale, the executive vice president now owns 11,919 shares of the company’s stock, valued at approximately $2,089,758.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth M. Woolley sold 6,647 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $177.23, for a total value of $1,178,047.81. Following the sale, the director now directly owns 404,306 shares in the company, valued at approximately $71,655,152.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,970 shares of company stock valued at $3,172,757. 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.