Graypoint LLC Buys 65 Shares of Extra Space Storage Inc. (NYSE:EXR)

Graypoint LLC increased its holdings in Extra Space Storage Inc. (NYSE:EXR) by 4.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,575 shares of the real estate investment trust’s stock after buying an additional 65 shares during the quarter. Graypoint LLC’s holdings in Extra Space Storage were worth $284,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EdgeRock Capital LLC purchased a new position in shares of Extra Space Storage in the second quarter worth approximately $25,000. Centerpoint Advisors LLC purchased a new position in shares of Extra Space Storage in the second quarter worth approximately $27,000. Blue Trust Inc. boosted its holdings in shares of Extra Space Storage by 540.5% in the second quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 200 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Extra Space Storage by 2,760.0% in 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 buying an additional 276 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of Extra Space Storage by 19.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust’s stock worth $72,000 after buying an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on EXR shares. StockNews.com downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Royal Bank of Canada started coverage on shares of Extra Space Storage in a report on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 price target on the stock. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $175.00 price target on shares of Extra Space Storage in a report on Monday, October 21st. Evercore ISI reduced their price objective on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a research report on Monday, October 14th. Finally, Jefferies Financial Group upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and lifted their price objective for the company from $162.00 to $204.00 in a research report on Wednesday, September 18th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $171.50.

Insider Buying and Selling at Extra Space Storage

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

Extra Space Storage Trading Up 2.2 %

Shares of EXR opened at $167.70 on Friday. The company’s fifty day moving average is $172.62 and its 200 day moving average is $161.43. Extra Space Storage Inc. has a fifty-two week low of $116.23 and a fifty-two week high of $184.87. The stock has a market capitalization of $35.55 billion, a PE ratio of 43.90, a P/E/G ratio of 6.06 and a beta of 0.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.20 and a current ratio of 0.23.

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

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date was Monday, September 16th. Extra Space Storage’s dividend payout ratio (DPR) is 169.63%.

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.