Capital International Investors Buys 1,225 Shares of Extra Space Storage Inc. (NYSE:EXR)

Capital International Investors increased its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 0.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,655,436 shares of the real estate investment trust’s stock after acquiring an additional 1,225 shares during the quarter. Capital International Investors’ holdings in Extra Space Storage were worth $537,349,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. EdgeRock Capital LLC acquired a new stake in Extra Space Storage during the fourth quarter worth $26,000. Creekmur Asset Management LLC acquired a new stake in Extra Space Storage during the fourth quarter worth $26,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in 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 in the last quarter. Cornerstone Advisors LLC acquired a new stake in Extra Space Storage during the first quarter worth $74,000. Finally, Parkside Financial Bank & Trust boosted its stake in Extra Space Storage by 30.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 515 shares of the real estate investment trust’s stock worth $83,000 after buying an additional 119 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on EXR shares. Citigroup decreased their price target on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, June 7th. Wells Fargo & Company boosted their target price on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday. Barclays boosted their target price on shares of Extra Space Storage from $157.00 to $158.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Scotiabank boosted their target price on shares of Extra Space Storage from $140.00 to $159.00 and gave the company a “sector underperform” rating in a research note on Friday, July 19th. Finally, StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $157.67.

Insider Buying and Selling

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

Extra Space Storage Price Performance

NYSE EXR traded up $3.92 on Friday, hitting $164.61. 741,623 shares of the company were exchanged, compared to its average volume of 1,074,204. The firm has a 50 day moving average of $154.38 and a two-hundred day moving average of $147.36. The company has a market cap of $34.85 billion, a P/E ratio of 36.66, a P/E/G ratio of 3.41 and a beta of 0.83. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.73. Extra Space Storage Inc. has a 1-year low of $101.19 and a 1-year high of $171.46.

Extra Space Storage Dividend Announcement

The business 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. The ex-dividend date was Friday, June 14th. This represents a $6.48 annualized dividend and a yield of 3.94%. Extra Space Storage’s dividend payout ratio (DPR) is 144.32%.

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.