Vert Asset Management LLC Boosts Position in Extra Space Storage Inc. (NYSE:EXR)

Vert Asset Management LLC increased its stake in Extra Space Storage Inc. (NYSE:EXR) by 1.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 86,563 shares of the real estate investment trust’s stock after purchasing an additional 1,288 shares during the quarter. Extra Space Storage comprises 5.4% of Vert Asset Management LLC’s investment portfolio, making the stock its 7th largest holding. Vert Asset Management LLC’s holdings in Extra Space Storage were worth $15,598,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased its position in Extra Space Storage by 32.2% in the 1st quarter. GAMMA Investing LLC now owns 1,051 shares of the real estate investment trust’s stock valued at $154,000 after buying an additional 256 shares in the last quarter. Czech National Bank grew its stake in Extra Space Storage by 0.5% in the first quarter. Czech National Bank now owns 37,174 shares of the real estate investment trust’s stock valued at $5,465,000 after acquiring an additional 170 shares during the period. Gulf International Bank UK Ltd increased its holdings in shares of Extra Space Storage by 0.7% during the first quarter. Gulf International Bank UK Ltd now owns 17,446 shares of the real estate investment trust’s stock valued at $2,564,000 after acquiring an additional 127 shares in the last quarter. Ignite Planners LLC bought a new stake in shares of Extra Space Storage during the first quarter valued at approximately $702,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Extra Space Storage by 8.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,636 shares of the real estate investment trust’s stock worth $1,122,000 after purchasing an additional 583 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Price Performance

Shares of NYSE EXR opened at $171.18 on Friday. The firm has a market cap of $36.24 billion, a price-to-earnings ratio of 38.12, a price-to-earnings-growth ratio of 6.47 and a beta of 0.86. The stock has a fifty day simple moving average of $174.47 and a two-hundred day simple moving average of $158.91. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.76. Extra Space Storage Inc. has a 1-year low of $101.19 and a 1-year high of $184.87.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend was Monday, September 16th. Extra Space Storage’s dividend payout ratio (DPR) is currently 144.32%.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, EVP William N. Springer sold 2,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total transaction of $350,660.00. Following the completion of the transaction, the executive vice president now owns 11,919 shares in the company, valued at $2,089,758.27. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Extra Space Storage news, EVP William N. Springer sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total value of $350,660.00. Following the completion of the transaction, the executive vice president now owns 11,919 shares in the company, valued at $2,089,758.27. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the completion of the sale, the chief executive officer now directly owns 24,190 shares in the company, valued at approximately $4,318,398.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,970 shares of company stock worth $3,367,307. Company insiders own 1.36% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Truist Financial upped their price objective on shares of Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Raymond James upped their target price on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group raised Extra Space Storage from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $162.00 to $204.00 in a report on Wednesday, September 18th. Finally, Royal Bank of Canada assumed coverage on Extra Space Storage in a report on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 target price on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $170.80.

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.