Chesapeake Capital Corp IL Acquires Shares of 3,289 Extra Space Storage Inc. (NYSE:EXR)

Chesapeake Capital Corp IL purchased a new position in shares of Extra Space Storage Inc. (NYSE:EXR) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,289 shares of the real estate investment trust’s stock, valued at approximately $511,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Royal London Asset Management Ltd. boosted its stake in shares of Extra Space Storage by 1.1% in the second quarter. Royal London Asset Management Ltd. now owns 83,229 shares of the real estate investment trust’s stock valued at $12,935,000 after purchasing an additional 892 shares during the period. Global X Japan Co. Ltd. acquired a new position in Extra Space Storage in the 2nd quarter worth $78,000. Davis Selected Advisers boosted its position in Extra Space Storage by 54.2% in the 2nd quarter. Davis Selected Advisers now owns 61,595 shares of the real estate investment trust’s stock valued at $9,572,000 after buying an additional 21,650 shares during the last quarter. Choreo LLC acquired a new stake in shares of Extra Space Storage during the second quarter valued at about $797,000. Finally, Prudential PLC increased its position in shares of Extra Space Storage by 70.3% during the second quarter. Prudential PLC now owns 3,998 shares of the real estate investment trust’s stock worth $621,000 after acquiring an additional 1,650 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Monday, July 1st. The shares were 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 directly owns 31,690 shares in the company, valued at $4,835,260.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Extra Space Storage news, EVP William N. Springer sold 2,000 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 11,919 shares of the company’s stock, valued at approximately $2,089,758.27. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Monday, July 1st. The shares were sold at an average price of $152.58, for a total value of $1,144,350.00. Following the transaction, the chief executive officer now owns 31,690 shares in the company, valued at $4,835,260.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,323 shares of company stock worth $1,994,709. 1.36% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EXR. Truist Financial increased their price target on Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a report on Friday, August 16th. Raymond James raised their price target on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. KeyCorp upped their price target on shares of Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a report on Monday. Bank of America lowered shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $172.00 to $155.00 in a report on Monday, August 5th. Finally, Royal Bank of Canada assumed coverage on Extra Space Storage in a research note on Tuesday. They issued a “sector perform” rating and a $180.00 price target for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six 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 a consensus target price of $168.36.

Extra Space Storage Stock Up 0.7 %

Extra Space Storage stock opened at $174.74 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.20 and a current ratio of 0.20. The company has a 50-day simple moving average of $165.86 and a 200-day simple moving average of $152.51. The firm has a market capitalization of $37.03 billion, a P/E ratio of 38.92, a P/E/G ratio of 2.53 and a beta of 0.86. Extra Space Storage Inc. has a one year low of $101.19 and a one year high of $179.23.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $1.62 per share. The ex-dividend date is Monday, September 16th. This represents a $6.48 annualized dividend and a dividend yield of 3.71%. Extra Space Storage’s dividend payout ratio is presently 144.32%.

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.