Keeley Teton Advisors LLC Takes Position in Extra Space Storage Inc. (NYSE:EXR)

Keeley Teton Advisors LLC acquired a new position in shares of Extra Space Storage Inc. (NYSE:EXR) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 1,467 shares of the real estate investment trust’s stock, valued at approximately $219,000.

Several other institutional investors have also recently added to or reduced their stakes in EXR. MML Investors Services LLC boosted its position in shares of Extra Space Storage by 12.6% during the third quarter. MML Investors Services LLC now owns 5,994 shares of the real estate investment trust’s stock worth $1,080,000 after buying an additional 672 shares during the period. World Investment Advisors LLC purchased a new position in Extra Space Storage during the 3rd quarter valued at about $216,000. Wilmington Savings Fund Society FSB acquired a new position in Extra Space Storage in the 3rd quarter valued at about $654,000. 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 worth $2,278,000 after purchasing an additional 3,234 shares during the period. Finally, Copley Financial Group Inc. acquired a new stake in shares of Extra Space Storage during the third quarter worth about $659,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insider Activity

In other news, Director Joseph J. Bonner sold 672 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $149.10, for a total value of $100,195.20. Following the completion of the sale, the director now directly owns 4,557 shares of the company’s stock, valued at approximately $679,448.70. This represents a 12.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total value of $1,105,875.00. Following the transaction, the chief executive officer now directly owns 9,190 shares in the company, valued at approximately $1,355,065.50. This represents a 44.94 % 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 $1,392,315. 1.36% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

EXR has been the subject of a number of research reports. Wells Fargo & Company dropped their price objective on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a report on Friday, February 21st. Mizuho started coverage on Extra Space Storage in a research report on Wednesday, April 9th. They set an “outperform” rating and a $141.00 price objective on the stock. StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday, March 7th. Barclays cut their price target on Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. Finally, Scotiabank upgraded Extra Space Storage from a “sector perform” rating to a “sector outperform” rating and decreased their price objective for the company from $165.00 to $149.00 in a research note on Wednesday, April 9th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $167.25.

Extra Space Storage Trading Up 2.0 %

Shares of Extra Space Storage stock opened at $140.99 on Friday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The company has a fifty day simple moving average of $147.25 and a 200-day simple moving average of $155.68. The stock has a market cap of $29.92 billion, a price-to-earnings ratio of 36.91, a PEG ratio of 7.76 and a beta of 0.96. Extra Space Storage Inc. has a 12-month low of $121.03 and a 12-month 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 (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.93. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The company had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. On average, equities analysts forecast that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage’s dividend payout ratio is currently 160.40%.

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.