Lindbrook Capital LLC Boosts Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Lindbrook Capital LLC raised its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 14.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 523 shares of the real estate investment trust’s stock after acquiring an additional 68 shares during the period. Lindbrook Capital LLC’s holdings in Extra Space Storage were worth $78,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Carmel Capital Partners LLC increased its position in Extra Space Storage by 4.0% during the 4th quarter. Carmel Capital Partners LLC now owns 4,420 shares of the real estate investment trust’s stock worth $661,000 after purchasing an additional 170 shares during the period. McDonough Capital Management Inc increased its position in Extra Space Storage by 7.7% during the 4th quarter. McDonough Capital Management Inc now owns 8,983 shares of the real estate investment trust’s stock worth $1,344,000 after purchasing an additional 639 shares during the period. Inceptionr LLC acquired a new position in Extra Space Storage during the 4th quarter worth approximately $463,000. Raymond James Financial Inc. acquired a new position in Extra Space Storage during the 4th quarter worth approximately $46,120,000. Finally, Proficio Capital Partners LLC acquired a new position in Extra Space Storage during the 4th quarter worth approximately $25,090,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the transaction, the chief executive officer now owns 16,690 shares of the company’s stock, valued at $2,470,286.90. This represents a 31.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP William N. Springer sold 1,220 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $152.66, for a total value of $186,245.20. Following the transaction, the executive vice president now directly owns 20,158 shares in the company, valued at approximately $3,077,320.28. This represents a 5.71 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on EXR shares. Truist Financial boosted their target price on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Royal Bank of Canada lowered their price target on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. Wells Fargo & Company lowered their price target on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday, February 21st. Barclays lowered their price target on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Finally, Scotiabank lowered their price target on Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating on the stock in a report on Wednesday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $171.36.

Extra Space Storage Price Performance

EXR stock opened at $157.11 on Friday. Extra Space Storage Inc. has a 1 year low of $131.02 and a 1 year high of $184.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The stock’s 50 day moving average price is $152.91 and its 200 day moving average price is $163.02. The firm has a market cap of $33.31 billion, a P/E ratio of 41.13, a PEG ratio of 7.76 and a beta of 0.90.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.93. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The firm had revenue of $821.90 million for the quarter, compared to analyst estimates of $707.34 million. On average, sell-side analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage’s payout ratio is currently 160.40%.

Extra Space Storage Profile

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.