Hartline Investment Corp Sells 93 Shares of Extra Space Storage Inc. (NYSE:EXR)

Hartline Investment Corp lowered its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,051 shares of the real estate investment trust’s stock after selling 93 shares during the quarter. Hartline Investment Corp’s holdings in Extra Space Storage were worth $1,291,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Zions Bancorporation N.A. boosted its position in Extra Space Storage by 241.9% during the third quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 150 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Extra Space Storage by 162.5% during the third quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 143 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Extra Space Storage during the third quarter valued at about $32,000. Anchor Investment Management LLC acquired a new position in shares of Extra Space Storage during the fourth quarter valued at about $35,000. Finally, Riverview Trust Co acquired a new position in shares of Extra Space Storage during the third quarter valued at about $38,000. Institutional investors own 99.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Truist Financial upped their target price on shares of Extra Space Storage from $138.00 to $152.00 and gave the stock a “hold” rating in a report on Thursday, December 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Extra Space Storage in a report on Tuesday, January 30th. They issued a “hold” rating and a $141.00 target price on the stock. TheStreet upgraded shares of Extra Space Storage from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Finally, The Goldman Sachs Group upped their target price on shares of Extra Space Storage from $168.00 to $187.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $150.17.

Insider Activity

In other news, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $146.46, for a total transaction of $299,950.08. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CMO Samrat Sondhi sold 2,048 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $146.46, for a total value of $299,950.08. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the transaction, the executive vice president now directly owns 37,028 shares of the company’s stock, valued at $5,369,060. The disclosure for this sale can be found here. Insiders sold 3,532 shares of company stock valued at $514,819 in the last three months. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Up 1.0 %

EXR stock traded up $1.36 during trading on Wednesday, reaching $134.64. The stock had a trading volume of 1,147,466 shares, compared to its average volume of 1,175,786. Extra Space Storage Inc. has a one year low of $101.19 and a one year high of $164.99. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.71. The company’s 50 day moving average is $142.28 and its two-hundred day moving average is $138.03. The company has a market capitalization of $28.49 billion, a price-to-earnings ratio of 27.37, a P/E/G ratio of 3.26 and a beta of 0.74.

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

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date was Thursday, March 14th. Extra Space Storage’s dividend payout ratio 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.