Kestra Investment Management LLC Invests $54,000 in Extra Space Storage Inc. (NYSE:EXR)

Kestra Investment Management LLC purchased a new position in Extra Space Storage Inc. (NYSE:EXR) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 361 shares of the real estate investment trust’s stock, valued at approximately $54,000.

Several other hedge funds have also recently modified their holdings of EXR. Pathway Financial Advisers LLC lifted its position in shares of Extra Space Storage by 17,832.9% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust’s stock worth $363,783,000 after purchasing an additional 2,007,626 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Extra Space Storage by 724.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust’s stock worth $357,100,000 after acquiring an additional 1,741,320 shares in the last quarter. Manning & Napier Advisors LLC raised its stake in shares of Extra Space Storage by 1,127.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust’s stock worth $116,985,000 after acquiring an additional 718,266 shares in the last quarter. Mizuho Securities USA LLC raised its stake in shares of Extra Space Storage by 1,664.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 288,094 shares of the real estate investment trust’s stock worth $51,912,000 after acquiring an additional 271,765 shares in the last quarter. Finally, Hamlin Capital Management LLC raised its stake in shares of Extra Space Storage by 44.8% during the 3rd quarter. Hamlin Capital Management LLC now owns 766,043 shares of the real estate investment trust’s stock worth $138,033,000 after acquiring an additional 236,908 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Barclays reduced their price objective on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Truist Financial boosted their price objective on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Wells Fargo & Company reduced their price objective on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday. Scotiabank upgraded shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective for the company in a research note on Friday, January 10th. Finally, StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Extra Space Storage presently has an average rating of “Hold” and a consensus target price of $173.09.

Insider Transactions at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total value of $1,110,075.00. Following the sale, the chief executive officer now owns 16,690 shares in the company, valued at $2,470,286.90. This represents a 31.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Down 0.1 %

NYSE:EXR opened at $155.85 on Friday. The firm has a market capitalization of $33.04 billion, a P/E ratio of 40.80, a PEG ratio of 7.65 and a beta of 0.91. Extra Space Storage Inc. has a 1-year low of $131.02 and a 1-year high of $184.87. The company’s fifty day moving average price is $151.65 and its 200-day moving average price is $163.74. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.16%. Extra Space Storage’s payout ratio is currently 169.63%.

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.