4,702 Shares in Extra Space Storage Inc. (NYSE:EXR) Purchased by Bridgefront Capital LLC

Bridgefront Capital LLC bought a new stake in Extra Space Storage Inc. (NYSE:EXR) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,702 shares of the real estate investment trust’s stock, valued at approximately $703,000.

A number of other large investors also recently modified their holdings of the business. World Investment Advisors LLC acquired a new position in Extra Space Storage during the 3rd quarter valued at $216,000. Tidal Investments LLC increased its position in shares of Extra Space Storage by 34.4% during the third quarter. Tidal Investments LLC now owns 12,640 shares of the real estate investment trust’s stock valued at $2,278,000 after purchasing an additional 3,234 shares during the period. GAMMA Investing LLC raised its stake in shares of Extra Space Storage by 6.9% in the 4th quarter. GAMMA Investing LLC now owns 2,927 shares of the real estate investment trust’s stock valued at $438,000 after buying an additional 189 shares in the last quarter. Nordea Investment Management AB raised its position in Extra Space Storage by 7.0% in the fourth quarter. Nordea Investment Management AB now owns 16,577 shares of the real estate investment trust’s stock worth $2,465,000 after purchasing an additional 1,085 shares in the last quarter. Finally, First Hawaiian Bank lifted its position in shares of Extra Space Storage by 25.1% during the 4th quarter. First Hawaiian Bank now owns 2,022 shares of the real estate investment trust’s stock worth $302,000 after buying an additional 406 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Trading Down 0.1 %

NYSE EXR opened at $149.42 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. Extra Space Storage Inc. has a 52 week low of $121.03 and a 52 week high of $184.87. The stock has a market capitalization of $31.71 billion, a price-to-earnings ratio of 39.12, a PEG ratio of 7.76 and a beta of 0.96. The stock’s 50 day moving average price is $144.26 and its two-hundred day moving average price is $153.06.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.04. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company had revenue of $820.00 million during the quarter, compared to analysts’ expectations of $705.12 million. During the same quarter last year, the company earned $1.96 EPS. Extra Space Storage’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $1.62 dividend. The ex-dividend date was Friday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.34%. Extra Space Storage’s dividend payout ratio is presently 150.35%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Barclays dropped their target price on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a research report on Wednesday, March 12th. StockNews.com upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a report on Wednesday, April 30th. Scotiabank upgraded shares of Extra Space Storage from a “sector perform” rating to a “sector outperform” rating and cut their target price for the company from $165.00 to $149.00 in a research report on Wednesday, April 9th. Evercore ISI raised their price target on Extra Space Storage from $144.00 to $149.00 and gave the stock an “in-line” rating in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Extra Space Storage in a report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $165.42.

Insider Buying and Selling

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the transaction, the chief executive officer now directly owns 9,190 shares in the company, valued at $1,355,065.50. The trade was a 44.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP William N. Springer sold 1,220 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $152.66, for a total transaction of $186,245.20. Following the completion of the sale, the executive vice president now owns 20,158 shares of the company’s stock, valued at $3,077,320.28. This trade represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,392 shares of company stock worth $1,392,315. Insiders own 0.96% of the company’s stock.

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.