Concurrent Investment Advisors LLC Acquires Shares of 1,228 Extra Space Storage Inc. (NYSE:EXR)

Concurrent Investment Advisors LLC bought a new position in shares of Extra Space Storage Inc. (NYSE:EXR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,228 shares of the real estate investment trust’s stock, valued at approximately $221,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Alterna Wealth Management Inc. bought a new stake in Extra Space Storage during the 3rd quarter worth approximately $232,000. QRG Capital Management Inc. boosted its position in shares of Extra Space Storage by 35.6% during the third quarter. QRG Capital Management Inc. now owns 2,769 shares of the real estate investment trust’s stock valued at $499,000 after buying an additional 727 shares during the last quarter. National Pension Service grew its holdings in Extra Space Storage by 18.3% during the third quarter. National Pension Service now owns 333,865 shares of the real estate investment trust’s stock worth $60,159,000 after buying an additional 51,623 shares in the last quarter. Donaldson Capital Management LLC raised its position in Extra Space Storage by 59.2% in the 3rd quarter. Donaldson Capital Management LLC now owns 278,152 shares of the real estate investment trust’s stock valued at $50,120,000 after buying an additional 103,449 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in Extra Space Storage by 11.6% during the 3rd quarter. Van ECK Associates Corp now owns 96,609 shares of the real estate investment trust’s stock valued at $16,333,000 after acquiring an additional 10,063 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Price Performance

NYSE EXR opened at $165.48 on Tuesday. The company has a quick ratio of 0.20, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The company has a market cap of $35.08 billion, a PE ratio of 43.97, a price-to-earnings-growth ratio of 6.31 and a beta of 0.87. Extra Space Storage Inc. has a 52 week low of $116.23 and a 52 week high of $184.87. The firm’s 50-day simple moving average is $172.62 and its two-hundred day simple moving average is $161.82.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing the consensus estimate of $2.03 by ($1.12). Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business had revenue of $824.80 million during the quarter, compared to the consensus estimate of $826.93 million. During the same period last year, the business posted $2.02 earnings per share. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. Research analysts predict that Extra Space Storage Inc. will post 8.08 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $1.62 per share. The ex-dividend date was Monday, September 16th. This represents a $6.48 dividend on an annualized basis and a yield of 3.92%. Extra Space Storage’s dividend payout ratio (DPR) is 169.63%.

Analyst Ratings Changes

EXR has been the subject of several recent analyst reports. Barclays upped their target price on shares of Extra Space Storage from $188.00 to $192.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Raymond James upped their price objective on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Scotiabank lifted their target price on shares of 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. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $175.00 target price on shares of Extra Space Storage in a report on Monday, October 21st. Finally, Royal Bank of Canada began coverage on Extra Space Storage in a research report on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 price target for the company. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Extra Space Storage currently has a consensus rating of “Hold” and a consensus target price of $171.50.

Insiders Place Their Bets

In other news, EVP William N. Springer sold 2,000 shares of the company’s 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 directly owns 11,919 shares in the company, valued at $2,089,758.27. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP William N. Springer sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total value of $350,660.00. Following the transaction, the executive vice president now owns 11,919 shares of the company’s stock, valued at approximately $2,089,758.27. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Gwyn Goodson Mcneal sold 2,823 shares of Extra Space Storage stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $177.01, for a total value of $499,699.23. Following the sale, the executive vice president now directly owns 32,855 shares of the company’s stock, valued at $5,815,663.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,970 shares of company stock worth $3,367,307 in the last quarter. 1.36% of the stock is owned by company insiders.

About Extra Space Storage

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.