GAMMA Investing LLC Acquires Shares of 795 Extra Space Storage Inc. (NYSE:EXR)

GAMMA Investing LLC acquired a new stake in Extra Space Storage Inc. (NYSE:EXR) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 795 shares of the real estate investment trust’s stock, valued at approximately $127,000.

A number of other large investors have also recently made changes to their positions in EXR. Zions Bancorporation N.A. lifted its stake in shares of Extra Space Storage by 241.9% in the third quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 150 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Extra Space Storage by 162.5% in the third quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 143 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Extra Space Storage in the third quarter valued at $32,000. Anchor Investment Management LLC bought a new position in shares of Extra Space Storage in the fourth quarter valued at $35,000. Finally, Bruce G. Allen Investments LLC bought a new position in shares of Extra Space Storage in the fourth quarter valued at $41,000. 99.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EXR. Barclays began coverage on shares of Extra Space Storage in a research note on Wednesday, March 27th. They issued an “overweight” rating and a $157.00 price objective on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Extra Space Storage in a research report on Tuesday, January 30th. They set a “hold” rating and a $141.00 price target on the stock. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. The Goldman Sachs Group raised their price target on shares of Extra Space Storage from $168.00 to $187.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Finally, Wells Fargo & Company raised their price target on shares of Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $150.17.

Insider Transactions at Extra Space Storage

In other news, CMO Samrat Sondhi sold 2,048 shares of Extra Space Storage stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $146.46, for a total value of $299,950.08. Following the completion of the transaction, the chief marketing officer now owns 94,126 shares in the company, valued at $13,785,693.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the transaction, the executive vice president now owns 37,028 shares of the company’s stock, valued at $5,369,060. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CMO Samrat Sondhi sold 2,048 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $146.46, for a total transaction of $299,950.08. Following the transaction, the chief marketing officer now directly owns 94,126 shares of the company’s stock, valued at approximately $13,785,693.96. The disclosure for this sale can be found here. Insiders sold 3,532 shares of company stock worth $514,819 over the last quarter. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Performance

NYSE EXR opened at $133.47 on Friday. Extra Space Storage Inc. has a 52-week low of $101.19 and a 52-week high of $164.99. The company has a 50-day simple moving average of $141.87 and a 200 day simple moving average of $138.19. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market capitalization of $28.24 billion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 3.29 and a beta of 0.74.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($1.01). The business had revenue of $797.77 million during the quarter, compared to analysts’ expectations of $778.05 million. Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. Extra Space Storage’s revenue for the quarter was up 57.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.09 EPS. On average, research analysts predict that Extra Space Storage Inc. will post 8.05 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $1.62 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.86%. Extra Space Storage’s payout ratio is 131.17%.

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.