Atlanta Consulting Group Advisors LLC Invests $247,000 in Extra Space Storage Inc. (NYSE:EXR)

Atlanta Consulting Group Advisors LLC acquired a new position in shares of Extra Space Storage Inc. (NYSE:EXR) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,371 shares of the real estate investment trust’s stock, valued at approximately $247,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. grew its position in shares of Extra Space Storage by 9.7% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 298,605 shares of the real estate investment trust’s stock worth $53,806,000 after buying an additional 26,316 shares during the period. Natixis Advisors LLC boosted its stake in Extra Space Storage by 2.0% during the 3rd quarter. Natixis Advisors LLC now owns 108,688 shares of the real estate investment trust’s stock worth $19,585,000 after acquiring an additional 2,095 shares during the last quarter. Mizuho Securities USA LLC grew its holdings in Extra Space Storage by 1,664.3% during the third quarter. Mizuho Securities USA LLC now owns 288,094 shares of the real estate investment trust’s stock valued at $51,912,000 after purchasing an additional 271,765 shares during the period. Empowered Funds LLC increased its stake in Extra Space Storage by 7.2% in the third quarter. Empowered Funds LLC now owns 3,928 shares of the real estate investment trust’s stock valued at $708,000 after purchasing an additional 264 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of Extra Space Storage by 8.4% during the third quarter. CIBC Asset Management Inc now owns 30,877 shares of the real estate investment trust’s stock worth $5,564,000 after purchasing an additional 2,399 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Insider Buying and Selling at Extra Space Storage

In related news, EVP Gwyn Goodson Mcneal sold 2,823 shares of Extra Space Storage stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $177.01, for a total transaction of $499,699.23. Following the completion of the sale, the executive vice president now owns 32,855 shares of the company’s stock, valued at approximately $5,815,663.55. The trade was a 7.91 % decrease in their position. 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 the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the completion of the transaction, the chief executive officer now owns 24,190 shares in the company, valued at approximately $4,318,398.80. This trade represents a 23.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,970 shares of company stock worth $3,367,307 over the last 90 days. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Up 0.7 %

EXR stock opened at $164.56 on Monday. The company has a market cap of $34.88 billion, a price-to-earnings ratio of 43.08, a P/E/G ratio of 8.29 and a beta of 0.87. Extra Space Storage Inc. has a twelve month low of $125.32 and a twelve month high of $184.87. The business has a 50 day moving average price of $171.50 and a two-hundred day moving average price of $162.65. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR) last released 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). Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The firm had revenue of $824.80 million during the quarter, compared to the consensus estimate of $826.93 million. During the same period in the prior year, the business posted $2.02 earnings per share. Extra Space Storage’s quarterly revenue was up 10.2% compared to the same quarter last year. Analysts anticipate that Extra Space Storage Inc. will post 8.09 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.94%. Extra Space Storage’s payout ratio is currently 169.63%.

Analyst Upgrades and Downgrades

EXR has been the subject of a number of recent analyst reports. Scotiabank upped 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 research report on Thursday, August 22nd. Jefferies Financial Group upgraded 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. Barclays boosted their price objective on Extra Space Storage from $188.00 to $192.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Raymond James raised their target price on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada began coverage on shares of Extra Space Storage in a report on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 price target for the company. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $171.50.

Extra Space Storage Company 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.