CWA Asset Management Group LLC Acquires New Shares in Extra Space Storage Inc. (NYSE:EXR)

CWA Asset Management Group LLC acquired a new stake in Extra Space Storage Inc. (NYSE:EXR) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,848 shares of the real estate investment trust’s stock, valued at approximately $693,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. EdgeRock Capital LLC bought a new stake in Extra Space Storage during the 2nd quarter worth approximately $25,000. Centerpoint Advisors LLC bought a new stake in shares of Extra Space Storage in the second quarter worth $27,000. Blue Trust Inc. increased its holdings in Extra Space Storage by 540.5% in the second quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 200 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in Extra Space Storage by 2,760.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 276 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in Extra Space Storage by 19.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust’s stock worth $72,000 after buying an additional 76 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Price Performance

Shares of EXR opened at $167.70 on Monday. The company has a quick ratio of 0.20, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The business’s fifty day moving average is $172.62 and its 200 day moving average is $161.63. Extra Space Storage Inc. has a 12-month low of $116.23 and a 12-month high of $184.87. The stock has a market cap of $35.55 billion, a P/E ratio of 43.90, a P/E/G ratio of 6.06 and a beta of 0.87.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing the consensus estimate of $2.03 by ($1.12). Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business had revenue of $824.80 million for the quarter, compared to the consensus estimate of $826.93 million. During the same period in the previous year, the firm earned $2.02 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. Sell-side analysts anticipate that Extra Space Storage Inc. will post 8.08 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $6.48 annualized dividend and a dividend yield of 3.86%. Extra Space Storage’s payout ratio is 169.63%.

Wall Street Analyst Weigh In

A number of research firms recently commented on EXR. Royal Bank of Canada began coverage on Extra Space Storage in a research note on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 price objective on the stock. KeyCorp boosted their price target on shares of Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Barclays increased their price objective on shares of Extra Space Storage from $188.00 to $192.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Wells Fargo & Company restated an “equal weight” rating and issued a $175.00 target price on shares of Extra Space Storage in a report on Monday, October 21st. Finally, Evercore ISI decreased their price target on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a report on Monday, October 14th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $171.50.

Insider Buying and Selling

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 2,823 shares of Extra Space Storage stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $177.01, for a total transaction of $499,699.23. Following the transaction, the executive vice president now directly owns 32,855 shares of the company’s stock, valued at $5,815,663.55. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 2,823 shares of Extra Space Storage stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $177.01, for a total transaction of $499,699.23. Following the transaction, the executive vice president now owns 32,855 shares of the company’s stock, valued at $5,815,663.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William N. Springer sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were 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 directly owns 11,919 shares of the company’s stock, valued at approximately $2,089,758.27. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,970 shares of company stock worth $3,367,307. 1.36% of the stock is owned by corporate insiders.

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.