Graypoint LLC Invests $235,000 in Extra Space Storage Inc. (NYSE:EXR)

Graypoint LLC bought a new position in shares of Extra Space Storage Inc. (NYSE:EXR) in the 2nd quarter, Holdings Channel.com reports. The fund bought 1,510 shares of the real estate investment trust’s stock, valued at approximately $235,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EXR. Norges Bank acquired a new stake in Extra Space Storage during the 4th quarter worth $1,022,811,000. Boston Partners acquired a new stake in shares of Extra Space Storage during the first quarter worth about $130,554,000. Capital Research Global Investors lifted its holdings in shares of Extra Space Storage by 111.4% in the 4th quarter. Capital Research Global Investors now owns 1,537,317 shares of the real estate investment trust’s stock valued at $246,478,000 after purchasing an additional 810,158 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Extra Space Storage by 8.9% in the 4th quarter. Principal Financial Group Inc. now owns 7,083,752 shares of the real estate investment trust’s stock valued at $1,135,738,000 after purchasing an additional 577,918 shares during the period. Finally, Janus Henderson Group PLC grew its stake in Extra Space Storage by 2,244.2% during the 1st quarter. Janus Henderson Group PLC now owns 597,729 shares of the real estate investment trust’s stock worth $87,824,000 after buying an additional 572,231 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Stock Performance

Shares of EXR stock opened at $177.00 on Tuesday. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.76. The stock has a 50 day simple moving average of $163.58 and a 200-day simple moving average of $151.10. The company has a market cap of $37.48 billion, a price-to-earnings ratio of 39.42, a price-to-earnings-growth ratio of 2.58 and a beta of 0.83. Extra Space Storage Inc. has a 12-month low of $101.19 and a 12-month high of $179.23.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Monday, September 16th. Extra Space Storage’s dividend payout ratio (DPR) is currently 144.32%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Barclays boosted their price objective on Extra Space Storage from $158.00 to $188.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Scotiabank upped their price target on shares of Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a research report on Thursday, August 22nd. Citigroup decreased their price target on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Evercore ISI lifted their price objective on shares of Extra Space Storage from $166.00 to $167.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Finally, Wells Fargo & Company increased their target price on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Extra Space Storage currently has a consensus rating of “Hold” and an average target price of $166.58.

Insiders Place Their Bets

In other news, Director Joseph J. Bonner sold 677 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $148.22, for a total value of $100,344.94. Following the completion of the transaction, the director now owns 5,229 shares in the company, valued at approximately $775,042.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the sale, the chief executive officer now owns 31,690 shares of the company’s stock, valued at approximately $4,835,260.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph J. Bonner sold 677 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $148.22, for a total value of $100,344.94. Following the completion of the sale, the director now owns 5,229 shares in the company, valued at approximately $775,042.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,000 shares of company stock worth $2,095,054. Corporate insiders own 1.36% 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 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.