Gallacher Capital Management LLC Sells 716 Shares of Extra Space Storage Inc. (NYSE:EXR)

Gallacher Capital Management LLC lowered its stake in Extra Space Storage Inc. (NYSE:EXR) by 8.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,714 shares of the real estate investment trust’s stock after selling 716 shares during the quarter. Gallacher Capital Management LLC’s holdings in Extra Space Storage were worth $1,154,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. State Street Corp lifted its stake in Extra Space Storage by 1.7% in the 3rd quarter. State Street Corp now owns 13,390,830 shares of the real estate investment trust’s stock valued at $2,412,894,000 after purchasing an additional 227,006 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Extra Space Storage by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,409,330 shares of the real estate investment trust’s stock valued at $360,436,000 after acquiring an additional 43,223 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Extra Space Storage by 5.3% in the 4th 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 acquiring an additional 106,608 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Extra Space Storage by 724.1% in 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 valued at $357,100,000 after acquiring an additional 1,741,320 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC raised its position in Extra Space Storage by 91.2% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,089,753 shares of the real estate investment trust’s stock valued at $163,027,000 after purchasing an additional 519,934 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Trading Up 0.4 %

Shares of EXR stock opened at $145.03 on Friday. The company has a market cap of $30.75 billion, a P/E ratio of 37.97, a PEG ratio of 7.76 and a beta of 0.90. The stock has a 50 day simple moving average of $152.94 and a two-hundred day simple moving average of $162.10. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. Extra Space Storage Inc. has a fifty-two week low of $131.02 and a fifty-two week high of $184.87.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.93. The company had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. Research analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 4.47%. The ex-dividend date is Friday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is currently 160.40%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Barclays dropped their price objective on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a report on Wednesday. Wells Fargo & Company dropped their price target 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, February 21st. 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 research report on Thursday, February 27th. Truist Financial raised their target price on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Finally, StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $171.09.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 16,690 shares in the company, valued at approximately $2,470,286.90. This represents a 31.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP William N. Springer sold 1,220 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was 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 represents a 5.71 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,392 shares of company stock valued at $1,396,515. Corporate 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.