Extra Space Storage Inc. (NYSE:EXR) Shares Purchased by Donaldson Capital Management LLC

Donaldson Capital Management LLC boosted its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 3.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 287,956 shares of the real estate investment trust’s stock after acquiring an additional 9,804 shares during the quarter. Extra Space Storage accounts for 1.6% of Donaldson Capital Management LLC’s holdings, making the stock its 27th largest position. Donaldson Capital Management LLC owned approximately 0.14% of Extra Space Storage worth $43,078,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Independent Advisor Alliance increased its holdings in shares of Extra Space Storage by 37.2% during the 4th quarter. Independent Advisor Alliance now owns 2,104 shares of the real estate investment trust’s stock valued at $315,000 after purchasing an additional 571 shares in the last quarter. Johnson Investment Counsel Inc. grew its position in Extra Space Storage by 2.4% during the fourth quarter. Johnson Investment Counsel Inc. now owns 15,043 shares of the real estate investment trust’s stock valued at $2,250,000 after buying an additional 359 shares during the period. Daiwa Securities Group Inc. increased its holdings in Extra Space Storage by 5.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 2,127,067 shares of the real estate investment trust’s stock valued at $318,209,000 after buying an additional 106,608 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Extra Space Storage by 27.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 168,338 shares of the real estate investment trust’s stock worth $25,183,000 after acquiring an additional 36,693 shares during the period. Finally, OFI Invest Asset Management purchased a new stake in shares of Extra Space Storage during the 4th quarter worth about $813,000. 99.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on EXR. Royal Bank of Canada cut their price target on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Barclays cut their price objective on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Wells Fargo & Company reduced their target price on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. The Goldman Sachs Group reissued a “buy” rating on shares of Extra Space Storage in a research note on Thursday. Finally, Scotiabank reduced their price objective on shares of Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $171.36.

Extra Space Storage Price Performance

Shares of NYSE EXR opened at $155.60 on Tuesday. The stock has a market capitalization of $32.99 billion, a price-to-earnings ratio of 40.73, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87. The firm has a 50-day simple moving average of $153.08 and a 200-day simple moving average of $162.84. 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 released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.93. The company had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. On average, equities analysts predict 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. Shareholders 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%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is presently 160.40%.

Insider Transactions at Extra Space Storage

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

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.