Fulton Breakefield Broenniman LLC Has $1.52 Million Holdings in Extra Space Storage Inc. (NYSE:EXR)

Fulton Breakefield Broenniman LLC decreased its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 3.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 10,127 shares of the real estate investment trust’s stock after selling 396 shares during the period. Fulton Breakefield Broenniman LLC’s holdings in Extra Space Storage were worth $1,515,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Graypoint LLC raised its holdings in shares of Extra Space Storage by 4.3% in the 3rd quarter. Graypoint LLC now owns 1,575 shares of the real estate investment trust’s stock valued at $284,000 after purchasing an additional 65 shares during the period. Wedge Capital Management L L P NC lifted its holdings in shares of Extra Space Storage by 1.3% during the fourth quarter. Wedge Capital Management L L P NC now owns 5,138 shares of the real estate investment trust’s stock worth $769,000 after purchasing an additional 68 shares during the period. Hummer Financial Advisory Services Inc lifted its holdings in shares of Extra Space Storage by 1.2% during the third quarter. Hummer Financial Advisory Services Inc now owns 5,920 shares of the real estate investment trust’s stock worth $1,067,000 after purchasing an additional 70 shares during the period. Buckley Wealth Management LLC raised its stake in Extra Space Storage by 1.9% during the third quarter. Buckley Wealth Management LLC now owns 3,811 shares of the real estate investment trust’s stock worth $687,000 after buying an additional 71 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its stake in Extra Space Storage by 4.1% in the third quarter. Bleakley Financial Group LLC now owns 1,973 shares of the real estate investment trust’s stock valued at $356,000 after purchasing an additional 77 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EXR. Scotiabank upgraded shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective for the company in a report on Friday, January 10th. Barclays dropped their price objective on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Evercore ISI dropped their price target on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a research note on Monday, October 14th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $175.00 price objective on shares of Extra Space Storage in a report on Monday, October 21st. Finally, Truist Financial boosted their price target on Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $171.25.

Insiders Place Their Bets

In other news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the transaction, the chief executive officer now directly owns 16,690 shares in the company, valued at approximately $2,470,286.90. This represents a 31.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Diane Olmstead sold 3,081 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $164.56, for a total transaction of $507,009.36. Following the transaction, the director now owns 5,877 shares in the company, valued at $967,119.12. This trade represents a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is owned by insiders.

Extra Space Storage Price Performance

Shares of EXR opened at $155.02 on Wednesday. Extra Space Storage Inc. has a twelve month low of $131.02 and a twelve month high of $184.87. The firm’s fifty day simple moving average is $155.79 and its 200-day simple moving average is $164.86. The firm has a market capitalization of $32.86 billion, a price-to-earnings ratio of 40.58, a PEG ratio of 7.48 and a beta of 0.91. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($1.12). The firm had revenue of $824.80 million during the quarter, compared to analysts’ expectations of $826.93 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.02 EPS. Equities analysts forecast that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.18%. The ex-dividend date was Monday, December 16th. Extra Space Storage’s dividend payout ratio (DPR) is 169.63%.

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.