Brentview Investment Management LLC Has $2.98 Million Stake in Extra Space Storage Inc (NYSE:EXR)

Brentview Investment Management LLC lifted its position in Extra Space Storage Inc (NYSE:EXR) by 5.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,090 shares of the real estate investment trust’s stock after purchasing an additional 1,027 shares during the quarter. Brentview Investment Management LLC’s holdings in Extra Space Storage were worth $2,983,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Quarry LP boosted its stake in Extra Space Storage by 156.1% in the 4th quarter. Quarry LP now owns 356 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 217 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in Extra Space Storage by 147.0% in the 1st quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust’s stock valued at $60,000 after buying an additional 241 shares in the last quarter. Parvin Asset Management LLC acquired a new stake in Extra Space Storage in the 4th quarter valued at $62,000. Wayfinding Financial LLC acquired a new stake in Extra Space Storage in the 1st quarter valued at $76,000. Finally, Global X Japan Co. Ltd. boosted its stake in Extra Space Storage by 24.8% in the 1st quarter. Global X Japan Co. Ltd. now owns 558 shares of the real estate investment trust’s stock valued at $83,000 after buying an additional 111 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total value of $1,127,625.00. Following the completion of the sale, the chief executive officer directly owned 27,260 shares of the company’s stock, valued at $4,098,541. This trade represents a 21.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.96% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on EXR shares. Wells Fargo & Company decreased their price target on Extra Space Storage from $165.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 23rd. Benchmark reduced their price objective on Extra Space Storage from $61.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. JPMorgan Chase & Co. boosted their price objective on Extra Space Storage from $160.00 to $162.00 and gave the stock a “neutral” rating in a research note on Friday, June 13th. Royal Bank Of Canada reduced their price objective on Extra Space Storage from $163.00 to $160.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 1st. Finally, BNP Paribas raised Extra Space Storage to a “hold” rating in a research note on Tuesday, June 24th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $157.69.

Extra Space Storage Stock Down 1.5%

EXR stock opened at $149.61 on Thursday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.33 and a quick ratio of 0.33. The stock has a market capitalization of $31.75 billion, a P/E ratio of 34.71, a P/E/G ratio of 3.69 and a beta of 1.10. The business has a 50-day moving average of $149.11 and a 200-day moving average of $148.48. Extra Space Storage Inc has a fifty-two week low of $121.03 and a fifty-two week high of $184.87.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.01). Extra Space Storage had a net margin of 27.84% and a return on equity of 6.11%. The company had revenue of $841.62 million for the quarter, compared to analyst estimates of $719.43 million. During the same period last year, the company posted $2.06 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, sell-side analysts anticipate that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a $1.62 dividend. The ex-dividend date was Monday, June 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.33%. Extra Space Storage’s payout ratio is 150.35%.

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.