CHURCHILL MANAGEMENT Corp Raises Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

CHURCHILL MANAGEMENT Corp raised its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 58,249 shares of the real estate investment trust’s stock after purchasing an additional 2,569 shares during the quarter. CHURCHILL MANAGEMENT Corp’s holdings in Extra Space Storage were worth $8,714,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Extra Space Storage during the third quarter worth about $33,000. Harvest Fund Management Co. Ltd acquired a new stake in Extra Space Storage during the 3rd quarter valued at approximately $42,000. Continuum Advisory LLC boosted its holdings in shares of Extra Space Storage by 68.1% in the 3rd quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust’s stock valued at $56,000 after acquiring an additional 126 shares during the last quarter. Sunbelt Securities Inc. boosted its holdings in shares of Extra Space Storage by 441.2% in the 2nd quarter. Sunbelt Securities Inc. now owns 617 shares of the real estate investment trust’s stock valued at $96,000 after acquiring an additional 503 shares during the last quarter. Finally, DiNuzzo Private Wealth Inc. acquired a new stake in shares of Extra Space Storage in the third quarter worth $129,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Price Performance

Shares of NYSE EXR opened at $149.51 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The firm has a market cap of $31.69 billion, a PE ratio of 39.14, a PEG ratio of 7.96 and a beta of 0.91. Extra Space Storage Inc. has a one year low of $131.02 and a one year high of $184.87. The firm has a fifty day moving average of $157.83 and a 200 day moving average of $164.93.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). The company had revenue of $824.80 million during the quarter, compared to analysts’ expectations of $826.93 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.02 earnings per share. As a group, research analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date was Monday, December 16th. Extra Space Storage’s dividend payout ratio (DPR) is 169.63%.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 16,690 shares of the company’s stock, valued at $2,470,286.90. This trade represents a 31.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Diane Olmstead sold 3,081 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $164.56, for a total value of $507,009.36. Following the completion of the sale, the director now owns 5,877 shares of the company’s stock, valued at $967,119.12. This trade represents a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.36% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on EXR. Wells Fargo & Company restated an “equal weight” rating and set a $175.00 target price on shares of Extra Space Storage in a research report on Monday, October 21st. Scotiabank raised 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 report on Friday, January 10th. Jefferies Financial Group raised Extra Space Storage from a “hold” rating to a “buy” rating and raised their target price for the stock from $162.00 to $204.00 in a report on Wednesday, September 18th. StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Finally, Evercore ISI dropped their price objective on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a research note on Monday, October 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $171.25.

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.