Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Burney Co.

Burney Co. cut its holdings in Extra Space Storage Inc. (NYSE:EXRFree Report) by 17.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,401 shares of the real estate investment trust’s stock after selling 503 shares during the quarter. Burney Co.’s holdings in Extra Space Storage were worth $292,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. First Horizon Advisors Inc. raised its holdings in Extra Space Storage by 1,272.7% during the first quarter. First Horizon Advisors Inc. now owns 151 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 140 shares during the last quarter. Money Concepts Capital Corp acquired a new position in Extra Space Storage during the fourth quarter worth $27,000. Zions Bancorporation N.A. raised its holdings in Extra Space Storage by 241.9% during the third quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 150 shares during the last quarter. IFP Advisors Inc raised its holdings in Extra Space Storage by 110.4% during the second quarter. IFP Advisors Inc now owns 223 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 117 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Extra Space Storage by 162.5% during the third quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 143 shares during the last quarter. 66.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Joseph D. Margolis purchased 4,200 shares of the stock in a transaction on Monday, November 13th. The stock was purchased at an average price of $118.21 per share, with a total value of $496,482.00. Following the completion of the transaction, the chief executive officer now owns 31,301 shares in the company, valued at $3,700,091.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Extra Space Storage news, Director Joseph Saffire sold 25,000 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $154.10, for a total transaction of $3,852,500.00. Following the completion of the sale, the director now owns 42,344 shares of the company’s stock, valued at $6,525,210.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Joseph D. Margolis purchased 4,200 shares of the stock in a transaction on Monday, November 13th. The shares were purchased 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 owns 31,301 shares of the company’s stock, valued at approximately $3,700,091.21. The disclosure for this purchase can be found here. Company insiders own 1.55% of the company’s stock.

Extra Space Storage Price Performance

Shares of NYSE:EXR opened at $143.38 on Friday. The company has a market cap of $30.29 billion, a P/E ratio of 26.36, a P/E/G ratio of 3.55 and a beta of 0.75. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.70. Extra Space Storage Inc. has a 52 week low of $101.19 and a 52 week high of $170.30. The business has a fifty day simple moving average of $149.72 and a 200-day simple moving average of $132.72.

Extra Space Storage Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were given a $1.62 dividend. The ex-dividend date was Thursday, December 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.52%. This is an increase from Extra Space Storage’s previous quarterly dividend of $0.61. Extra Space Storage’s payout ratio is currently 119.12%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday. Morgan Stanley raised Extra Space Storage from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $115.00 to $150.00 in a report on Thursday, December 21st. Deutsche Bank Aktiengesellschaft started coverage on Extra Space Storage in a report on Tuesday, January 30th. They issued a “hold” rating and a $141.00 price target for the company. Raymond James cut their price target on Extra Space Storage from $165.00 to $145.00 and set a “strong-buy” rating for the company in a report on Tuesday, October 24th. Finally, Bank of America cut Extra Space Storage from a “buy” rating to a “neutral” rating and cut their price target for the stock from $155.00 to $119.00 in a report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $151.45.

View Our Latest Research Report on EXR

About Extra Space Storage

(Free Report)

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 September 30, 2023, the Company owned and/or operated 3,651 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.5 million units and approximately 279.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.

See Also

Institutional Ownership by Quarter for Extra Space Storage (NYSE:EXR)

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