Carmel Capital Partners LLC Has $638,000 Stake in Extra Space Storage Inc. (NYSE:EXR)

Carmel Capital Partners LLC raised its position in Extra Space Storage Inc. (NYSE:EXR) by 8.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,978 shares of the real estate investment trust’s stock after purchasing an additional 302 shares during the period. Carmel Capital Partners LLC’s holdings in Extra Space Storage were worth $638,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EXR. Private Advisor Group LLC lifted its position in shares of Extra Space Storage by 5.6% in the 1st quarter. Private Advisor Group LLC now owns 1,404 shares of the real estate investment trust’s stock worth $289,000 after purchasing an additional 74 shares during the period. Blair William & Co. IL lifted its position in shares of Extra Space Storage by 16.5% during the 1st quarter. Blair William & Co. IL now owns 1,502 shares of the real estate investment trust’s stock valued at $309,000 after acquiring an additional 213 shares during the period. Prudential PLC acquired a new position in shares of Extra Space Storage during the 1st quarter valued at $625,000. Cetera Investment Advisers lifted its position in shares of Extra Space Storage by 8.2% during the 1st quarter. Cetera Investment Advisers now owns 2,522 shares of the real estate investment trust’s stock valued at $519,000 after acquiring an additional 192 shares during the period. Finally, Dakota Wealth Management acquired a new position in shares of Extra Space Storage during the 1st quarter valued at $332,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analyst Upgrades and Downgrades

EXR has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Extra Space Storage in a research report on Tuesday, January 30th. They set a “hold” rating and a $141.00 target price on the stock. Wells Fargo & Company boosted their target price on shares of Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Truist Financial boosted their target price on shares of Extra Space Storage from $138.00 to $152.00 and gave the company a “hold” rating in a research report on Thursday, December 28th. Scotiabank started coverage on shares of Extra Space Storage in a research note on Tuesday, February 13th. They set a “sector underperform” rating and a $131.00 price target for the company. Finally, StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Saturday, March 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $150.17.

Insider Buying and Selling

In related news, CMO Samrat Sondhi sold 2,048 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $146.46, for a total value of $299,950.08. Following the transaction, the chief marketing officer now directly owns 94,126 shares of the company’s stock, valued at approximately $13,785,693.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the sale, the executive vice president now directly owns 37,028 shares of the company’s stock, valued at $5,369,060. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CMO Samrat Sondhi sold 2,048 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $146.46, for a total transaction of $299,950.08. Following the sale, the chief marketing officer now directly owns 94,126 shares in the company, valued at $13,785,693.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,532 shares of company stock valued at $514,819. 1.36% of the stock is owned by insiders.

Extra Space Storage Stock Down 1.3 %

Shares of NYSE EXR traded down $1.74 during trading on Friday, hitting $132.46. The stock had a trading volume of 1,481,536 shares, compared to its average volume of 983,632. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $164.99. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market capitalization of $28.03 billion, a PE ratio of 26.83, a PEG ratio of 3.30 and a beta of 0.74. The firm has a fifty day moving average of $142.57 and a two-hundred day moving average of $137.52.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($1.01). Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. The firm had revenue of $797.77 million during the quarter, compared to the consensus estimate of $778.05 million. During the same quarter in the previous year, the company earned $2.09 EPS. The business’s revenue was up 57.4% compared to the same quarter last year. As a group, equities research analysts forecast that Extra Space Storage Inc. will post 8.05 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend was Thursday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is currently 131.17%.

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.