Brookstone Capital Management Buys 2,890 Shares of Extra Space Storage Inc $EXR

Brookstone Capital Management grew its stake in Extra Space Storage Inc (NYSE:EXR) by 4.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,076 shares of the real estate investment trust’s stock after purchasing an additional 2,890 shares during the period. Brookstone Capital Management’s holdings in Extra Space Storage were worth $10,332,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of EXR. Jacobsen Capital Management boosted its holdings in shares of Extra Space Storage by 0.4% in the 2nd quarter. Jacobsen Capital Management now owns 38,802 shares of the real estate investment trust’s stock worth $5,721,000 after acquiring an additional 162 shares in the last quarter. Fiduciary Family Office LLC acquired a new position in shares of Extra Space Storage in the 2nd quarter worth approximately $250,000. Whittier Trust Co. boosted its holdings in shares of Extra Space Storage by 6.8% in the 2nd quarter. Whittier Trust Co. now owns 2,024 shares of the real estate investment trust’s stock worth $298,000 after acquiring an additional 129 shares in the last quarter. Liberty One Investment Management LLC boosted its holdings in shares of Extra Space Storage by 5.0% in the 2nd quarter. Liberty One Investment Management LLC now owns 32,734 shares of the real estate investment trust’s stock worth $4,826,000 after acquiring an additional 1,554 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Extra Space Storage by 0.8% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 114,837 shares of the real estate investment trust’s stock worth $16,757,000 after acquiring an additional 862 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Evercore ISI boosted their target price on Extra Space Storage from $147.00 to $149.00 and gave the stock a “cautious” rating in a report on Friday, October 3rd. Wall Street Zen raised Extra Space Storage from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. The Goldman Sachs Group reissued a “neutral” rating and issued a $146.00 target price (down from $169.00) on shares of Extra Space Storage in a report on Thursday, August 21st. Citigroup reduced their price objective on Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Friday, August 22nd. Finally, Wells Fargo & Company upgraded shares of Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 target price for the company in a research report on Tuesday, August 26th. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $148.64.

Extra Space Storage Stock Performance

Shares of Extra Space Storage stock opened at $152.20 on Thursday. The company has a market capitalization of $32.30 billion, a PE ratio of 33.01, a PEG ratio of 2.71 and a beta of 1.11. Extra Space Storage Inc has a 12 month low of $121.03 and a 12 month high of $175.57. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.88. The stock’s fifty day simple moving average is $143.13 and its 200 day simple moving average is $144.60.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data 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). The business had revenue of $841.62 million for the quarter, compared to analyst estimates of $719.43 million. Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%.The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.06 EPS. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. On average, research analysts predict that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Monday, September 15th. Extra Space Storage’s dividend payout ratio is 140.56%.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $141.41, for a total transaction of $1,060,575.00. Following the completion of the transaction, the chief executive officer owned 19,760 shares in the company, valued at approximately $2,794,261.60. This represents a 27.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company 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.