Gilman Hill Asset Management LLC Buys 175 Shares of Extra Space Storage Inc. (NYSE:EXR)

Gilman Hill Asset Management LLC raised its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 13.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,492 shares of the real estate investment trust’s stock after purchasing an additional 175 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Extra Space Storage were worth $223,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Tidal Investments LLC increased its stake in 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 valued at $2,278,000 after acquiring an additional 3,234 shares during the period. Swedbank AB raised its stake in shares of Extra Space Storage by 4.5% in the third quarter. Swedbank AB now owns 243,130 shares of the real estate investment trust’s stock valued at $43,810,000 after purchasing an additional 10,408 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its stake in 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 buying an additional 3,093 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position 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 valued at $357,100,000 after acquiring an additional 1,741,320 shares in the last quarter. Finally, Brown Financial Advisors grew its stake in shares of Extra Space Storage by 69.1% in the 3rd quarter. Brown Financial Advisors now owns 9,134 shares of the real estate investment trust’s stock valued at $1,646,000 after purchasing an additional 3,731 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Scotiabank raised 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 report on Friday, January 10th. Barclays dropped their price objective on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Truist Financial raised their price target 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. Evercore ISI decreased their price objective on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a report on Monday, October 14th. Finally, StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $171.25.

Insider Buying and Selling

In related news, 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 $2,470,286.90. This trade represents a 31.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 transaction of $507,009.36. Following the completion of the transaction, the director now owns 5,877 shares of the company’s stock, valued at approximately $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. 1.36% of the stock is currently owned by corporate insiders.

Extra Space Storage Trading Down 0.6 %

Shares of NYSE:EXR opened at $150.75 on Tuesday. 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 Inc. has a 1 year low of $131.02 and a 1 year high of $184.87. The company has a market capitalization of $31.96 billion, a P/E ratio of 39.46, a P/E/G ratio of 7.18 and a beta of 0.91. The business’s 50 day simple moving average is $156.95 and its 200 day simple moving average is $164.96.

Extra Space Storage (NYSE:EXR) last issued its 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). Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business had revenue of $824.80 million during the quarter, compared to analyst estimates of $826.93 million. During the same period in the prior year, the business posted $2.02 EPS. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, research analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a dividend of $1.62 per share. The ex-dividend date was Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.30%. Extra Space Storage’s payout ratio is presently 169.63%.

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.