Extra Space Storage Inc. (NYSE:EXR) Shares Purchased by Shelton Capital Management

Shelton Capital Management increased its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 13.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,444 shares of the real estate investment trust’s stock after acquiring an additional 3,300 shares during the period. Shelton Capital Management’s holdings in Extra Space Storage were worth $4,234,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Strs Ohio increased its stake in Extra Space Storage by 18.0% in the 2nd quarter. Strs Ohio now owns 182,962 shares of the real estate investment trust’s stock worth $27,233,000 after purchasing an additional 27,930 shares in the last quarter. Capital Analysts LLC boosted its position in Extra Space Storage by 1,255.1% during the 1st quarter. Capital Analysts LLC now owns 2,263 shares of the real estate investment trust’s stock worth $369,000 after acquiring an additional 2,096 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Extra Space Storage by 8.4% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 176,342 shares of the real estate investment trust’s stock worth $28,731,000 after acquiring an additional 13,690 shares during the period. UBS Group AG boosted its position in Extra Space Storage by 8.6% during the 1st quarter. UBS Group AG now owns 230,431 shares of the real estate investment trust’s stock worth $37,544,000 after acquiring an additional 18,244 shares during the period. Finally, Truist Financial Corp boosted its position in Extra Space Storage by 304.3% during the 2nd quarter. Truist Financial Corp now owns 13,185 shares of the real estate investment trust’s stock worth $1,963,000 after acquiring an additional 9,924 shares during the period. 66.40% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Stock Down 1.4 %

EXR opened at $128.26 on Friday. The business has a 50 day moving average price of $117.76 and a 200 day moving average price of $133.74. Extra Space Storage Inc. has a twelve month low of $101.19 and a twelve month high of $170.30. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.50 and a current ratio of 0.50. The firm has a market cap of $27.10 billion, a P/E ratio of 23.58, a price-to-earnings-growth ratio of 0.75 and a beta of 0.63.

Extra Space Storage Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a $1.62 dividend. This is a positive change from Extra Space Storage’s previous quarterly dividend of $0.61. This represents a $6.48 annualized dividend and a yield of 5.05%. The ex-dividend date of this dividend is Thursday, December 14th. Extra Space Storage’s payout ratio is 44.85%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EXR. The Goldman Sachs Group began coverage on Extra Space Storage in a research report on Wednesday, September 27th. They set a “buy” rating and a $153.00 price objective for the company. Raymond James decreased their price objective on Extra Space Storage from $165.00 to $145.00 and set a “strong-buy” rating for the company in a research report on Tuesday, October 24th. StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, November 11th. Morgan Stanley reduced their price target on Extra Space Storage from $145.00 to $115.00 and set an “underweight” rating for the company in a report on Thursday, September 21st. Finally, Citigroup reduced their price target on Extra Space Storage from $160.00 to $135.00 and set a “neutral” rating for the company in a report on Wednesday, September 13th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $142.64.

Insider Buying and Selling

In related news, CEO Joseph D. Margolis bought 4,200 shares of Extra Space Storage stock in a transaction that occurred on Monday, November 13th. The stock was purchased at an average cost of $118.21 per share, for a total transaction of $496,482.00. Following the acquisition, the chief executive officer now owns 31,301 shares in the company, valued at $3,700,091.21. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Extra Space Storage news, CEO Joseph D. Margolis purchased 4,200 shares of the company’s stock in a transaction on Monday, November 13th. The shares were bought at an average cost of $118.21 per share, with a total value of $496,482.00. Following the transaction, the chief executive officer now directly owns 31,301 shares in the company, valued at approximately $3,700,091.21. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph J. Bonner sold 956 shares of Extra Space Storage stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $125.64, for a total value of $120,111.84. Following the completion of the transaction, the director now directly owns 4,504 shares in the company, valued at $565,882.56. The disclosure for this sale can be found here. Corporate insiders own 1.55% of the company’s stock.

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 June 30, 2023, the Company owned and/or operated 2,438 self-storage stores in 41 states and Washington, DC The Company's stores comprise approximately 1.7 million units and approximately 184.0 million square feet of rentable space.