Extra Space Storage Inc. (NYSE:EXR) Shares Bought by Lindbrook Capital LLC

Lindbrook Capital LLC boosted its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 14.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 523 shares of the real estate investment trust’s stock after acquiring an additional 68 shares during the quarter. Lindbrook Capital LLC’s holdings in Extra Space Storage were worth $78,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new stake in shares of Extra Space Storage in the fourth quarter valued at $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of Extra Space Storage in the third quarter valued at $33,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Extra Space Storage in the third quarter valued at $42,000. Quent Capital LLC grew its stake in shares of Extra Space Storage by 89.0% in the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 154 shares in the last quarter. Finally, Asset Planning Inc acquired a new stake in shares of Extra Space Storage in the fourth quarter valued at $52,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Stock Up 1.3 %

Shares of NYSE EXR opened at $157.11 on Friday. The company has a market capitalization of $33.31 billion, a price-to-earnings ratio of 41.13, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The business has a 50-day moving average of $152.91 and a two-hundred day moving average of $163.02. Extra Space Storage Inc. has a 1 year low of $131.02 and a 1 year high of $184.87.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, topping 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 return on equity of 5.51% and a net margin of 25.35%. On average, analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently commented on EXR shares. 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 research note on Friday, February 21st. StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Friday. 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 note on Thursday, February 27th. Truist Financial boosted their target price on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Finally, Barclays lowered their target price on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $171.36.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. The trade was a 31.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William N. Springer sold 1,220 shares of the company’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 value of $186,245.20. Following the sale, the executive vice president now directly owns 20,158 shares of the company’s stock, valued at approximately $3,077,320.28. This represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.36% of the company’s stock.

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.