UniSuper Management Pty Ltd Acquires 972 Shares of Extra Space Storage Inc. (NYSE:EXR)

UniSuper Management Pty Ltd lifted its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 1.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 68,813 shares of the real estate investment trust’s stock after purchasing an additional 972 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Extra Space Storage were worth $10,116,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. EdgeRock Capital LLC acquired a new stake in shares of Extra Space Storage during the fourth quarter worth $26,000. Creekmur Asset Management LLC acquired a new stake in shares of Extra Space Storage during the fourth quarter worth $26,000. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Extra Space Storage by 200.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 300 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 200 shares during the period. Exchange Traded Concepts LLC acquired a new stake in shares of Extra Space Storage during the fourth quarter worth $57,000. Finally, Cornerstone Advisors LLC acquired a new stake in shares of Extra Space Storage during the first quarter worth $74,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EXR has been the subject of several recent analyst reports. StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday. Citigroup reduced their price target on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, June 7th. Scotiabank raised their price target on shares of Extra Space Storage from $140.00 to $159.00 and gave the stock a “sector underperform” rating in a report on Friday. Evercore ISI raised their price target on shares of Extra Space Storage from $140.00 to $151.00 and gave the stock an “in-line” rating in a report on Monday, July 15th. Finally, 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Extra Space Storage has an average rating of “Hold” and a consensus price target of $156.42.

Extra Space Storage Stock Up 0.4 %

Shares of Extra Space Storage stock traded up $0.73 during trading hours on Tuesday, reaching $166.50. The company’s stock had a trading volume of 854,092 shares, compared to its average volume of 1,078,597. Extra Space Storage Inc. has a one year low of $101.19 and a one year high of $171.46. The company has a market capitalization of $35.25 billion, a P/E ratio of 37.08, a P/E/G ratio of 3.46 and a beta of 0.83. The stock’s fifty day simple moving average is $153.74 and its two-hundred day simple moving average is $147.13. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.15.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend was Friday, June 14th. Extra Space Storage’s payout ratio is currently 144.32%.

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the transaction, the chief executive officer now directly owns 31,690 shares of the company’s stock, valued at $4,835,260.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the transaction, the chief executive officer now directly owns 31,690 shares of the company’s stock, valued at $4,835,260.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph J. Bonner sold 677 shares of Extra Space Storage stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $148.22, for a total transaction of $100,344.94. Following the completion of the sale, the director now directly owns 5,229 shares in the company, valued at approximately $775,042.38. The disclosure for this sale can be found here. 1.36% of the stock is owned by insiders.

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.