Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL lowered its position in Extra Space Storage Inc. (NYSE:EXR) by 5.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,099 shares of the real estate investment trust’s stock after selling 190 shares during the quarter. Chesapeake Capital Corp IL’s holdings in Extra Space Storage were worth $558,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Graypoint LLC increased its stake in shares of Extra Space Storage by 4.3% in the third 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. Hummer Financial Advisory Services Inc boosted its holdings in shares of Extra Space Storage by 1.2% in the third quarter. Hummer Financial Advisory Services Inc now owns 5,920 shares of the real estate investment trust’s stock valued at $1,067,000 after acquiring an additional 70 shares in the last quarter. Buckley Wealth Management LLC boosted its holdings in shares of Extra Space Storage by 1.9% in the third quarter. Buckley Wealth Management LLC now owns 3,811 shares of the real estate investment trust’s stock valued at $687,000 after acquiring an additional 71 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Extra Space Storage by 19.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust’s stock valued at $72,000 after acquiring an additional 76 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its holdings in shares of 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 acquiring an additional 77 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $177.01, for a total value of $499,699.23. Following the completion of the sale, the executive vice president now owns 32,855 shares in the company, valued at $5,815,663.55. This represents a 7.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William N. Springer sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total transaction of $350,660.00. Following the completion of the sale, the executive vice president now owns 11,919 shares of the company’s stock, valued at approximately $2,089,758.27. The trade was a 14.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,970 shares of company stock worth $3,367,307. 1.36% of the stock is owned by corporate insiders.

Extra Space Storage Trading Up 0.7 %

Shares of NYSE:EXR opened at $164.56 on Friday. 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 has a market capitalization of $34.88 billion, a price-to-earnings ratio of 43.08, a PEG ratio of 8.29 and a beta of 0.87. Extra Space Storage Inc. has a 1-year low of $125.32 and a 1-year high of $184.87. The company has a 50 day moving average price of $171.50 and a 200 day moving average price of $162.65.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS 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% compared to the same quarter last year. During the same quarter last year, the company posted $2.02 EPS. On average, research analysts anticipate that Extra Space Storage Inc. will post 8.09 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.94%. Extra Space Storage’s dividend payout ratio (DPR) is presently 169.63%.

Wall Street Analysts Forecast Growth

EXR has been the subject of several recent analyst reports. KeyCorp increased their price objective on shares of Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Bank of America cut shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $172.00 to $155.00 in a report on Monday, August 5th. Jefferies Financial Group upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and increased their price objective for the company from $162.00 to $204.00 in a report on Wednesday, September 18th. Scotiabank increased their price objective on shares of Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a report on Thursday, August 22nd. Finally, Barclays increased their price objective on shares of Extra Space Storage from $188.00 to $192.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $171.50.

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.