Charles Schwab Investment Management Inc. Acquires 111,137 Shares of Extra Space Storage Inc. (NYSE:EXR)

Charles Schwab Investment Management Inc. boosted its position in Extra Space Storage Inc. (NYSE:EXR) by 4.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,366,107 shares of the real estate investment trust’s stock after purchasing an additional 111,137 shares during the period. Charles Schwab Investment Management Inc. owned about 1.12% of Extra Space Storage worth $426,349,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of EXR. EdgeRock Capital LLC purchased a new position in shares of Extra Space Storage during the second quarter valued at about $25,000. Centerpoint Advisors LLC bought a new position in shares of Extra Space Storage during the second quarter valued at approximately $27,000. Ashton Thomas Securities LLC purchased a new position in Extra Space Storage during the 3rd quarter valued at $33,000. Blue Trust Inc. grew its holdings in shares of Extra Space Storage by 540.5% in the second quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 200 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in Extra Space Storage by 2,760.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 276 shares in the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Extra Space Storage

In other news, EVP William N. Springer sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total value of $350,660.00. Following the completion of the transaction, the executive vice president now owns 11,919 shares in the company, valued at approximately $2,089,758.27. This represents a 14.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Diane Olmstead sold 3,081 shares of Extra Space Storage stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $164.56, for a total value of $507,009.36. Following the sale, the director now owns 5,877 shares in the company, valued at $967,119.12. This trade represents a 34.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,228 shares of company stock valued at $3,374,617 in the last 90 days. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Trading Up 1.4 %

Shares of Extra Space Storage stock opened at $167.32 on Friday. The stock’s 50 day simple moving average is $170.84 and its 200-day simple moving average is $163.18. The stock has a market cap of $35.47 billion, a P/E ratio of 43.80, a P/E/G ratio of 8.34 and a beta of 0.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. Extra Space Storage Inc. has a 1-year low of $125.32 and a 1-year high of $184.87.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business had revenue of $824.80 million during the quarter, compared to analyst estimates of $826.93 million. During the same quarter in the prior year, the company posted $2.02 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. Analysts predict that Extra Space Storage Inc. will post 8.09 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.87%. The ex-dividend date of this dividend is Monday, December 16th. Extra Space Storage’s dividend payout ratio is currently 169.63%.

Analysts Set New Price Targets

Several analysts recently weighed in on EXR shares. Evercore ISI decreased their price objective on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a report on Monday, October 14th. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Jefferies Financial Group upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and increased their price target for the stock from $162.00 to $204.00 in a report on Wednesday, September 18th. Truist Financial upped their target price on Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $175.00 price objective on shares of Extra Space Storage in a report on Monday, October 21st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Extra Space Storage presently has a consensus rating of “Hold” and a consensus target price 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.