Carmel Capital Partners LLC Has $661,000 Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Carmel Capital Partners LLC grew its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,420 shares of the real estate investment trust’s stock after purchasing an additional 170 shares during the quarter. Carmel Capital Partners LLC’s holdings in Extra Space Storage were worth $661,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in EXR. Tidal Investments LLC raised 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 worth $2,278,000 after acquiring an additional 3,234 shares during the last quarter. Swedbank AB raised its position in shares of Extra Space Storage by 4.5% during the third quarter. Swedbank AB now owns 243,130 shares of the real estate investment trust’s stock worth $43,810,000 after acquiring an additional 10,408 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Extra Space Storage by 724.1% during the third 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 during the last quarter. Duff & Phelps Investment Management Co. raised its position in shares of Extra Space Storage by 9.5% during the third quarter. Duff & Phelps Investment Management Co. now owns 35,503 shares of the real estate investment trust’s stock worth $6,397,000 after acquiring an additional 3,093 shares during the last quarter. Finally, Brown Financial Advisors raised its position in shares of Extra Space Storage by 69.1% during the third quarter. Brown Financial Advisors now owns 9,134 shares of the real estate investment trust’s stock worth $1,646,000 after acquiring an additional 3,731 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Trading Up 2.5 %

NYSE EXR opened at $157.24 on Thursday. The company has a market cap of $33.33 billion, a price-to-earnings ratio of 41.16, a P/E/G ratio of 7.76 and a beta of 0.91. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87. The business has a 50 day moving average price of $152.63 and a 200-day moving average price of $163.21. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.93. The company had revenue of $821.90 million for the quarter, compared to analysts’ expectations of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. As a group, equities analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.12%. Extra Space Storage’s payout ratio is 160.40%.

Insider Activity at Extra Space Storage

In related news, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following the transaction, the executive vice president now owns 20,158 shares of the company’s stock, valued at $3,077,320.28. The trade was a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the transaction, the chief executive officer now directly owns 16,690 shares in the company, valued at approximately $2,470,286.90. This represents a 31.00 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. StockNews.com upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Royal Bank of Canada lowered their target price on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Truist Financial lifted their target price on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Scotiabank lowered their target price on Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating for the company in a report on Wednesday. Finally, Wells Fargo & Company lowered their target price on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a report on Friday, February 21st. One 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 data from MarketBeat.com, Extra Space Storage currently has a consensus rating of “Hold” and a consensus target price of $171.36.

Extra Space Storage Company 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.