Brown Financial Advisors Takes Position in Extra Space Storage Inc. (NYSE:EXR)

Brown Financial Advisors purchased a new position in shares of Extra Space Storage Inc. (NYSE:EXR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,403 shares of the real estate investment trust’s stock, valued at approximately $840,000.

Several other large investors have also modified their holdings of the stock. Massmutual Trust Co. FSB ADV lifted its position in shares of Extra Space Storage by 19.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust’s stock worth $72,000 after purchasing an additional 76 shares during the last quarter. QRG Capital Management Inc. lifted its position in shares of Extra Space Storage by 5.2% during the first quarter. QRG Capital Management Inc. now owns 1,588 shares of the real estate investment trust’s stock worth $233,000 after purchasing an additional 78 shares during the last quarter. Park Avenue Securities LLC lifted its position in shares of Extra Space Storage by 2.1% during the second quarter. Park Avenue Securities LLC now owns 3,773 shares of the real estate investment trust’s stock worth $586,000 after purchasing an additional 79 shares during the last quarter. Gallacher Capital Management LLC lifted its position in shares of Extra Space Storage by 1.2% during the second quarter. Gallacher Capital Management LLC now owns 7,433 shares of the real estate investment trust’s stock worth $1,155,000 after purchasing an additional 86 shares during the last quarter. Finally, Profund Advisors LLC lifted its position in shares of Extra Space Storage by 2.9% during the second quarter. Profund Advisors LLC now owns 3,279 shares of the real estate investment trust’s stock worth $510,000 after purchasing an additional 93 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Price Performance

NYSE EXR opened at $178.31 on Wednesday. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $184.87. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.20 and a quick ratio of 0.20. The firm has a market capitalization of $37.75 billion, a PE ratio of 39.71, a P/E/G ratio of 2.67 and a beta of 0.86. The company’s 50 day simple moving average is $172.04 and its 200 day simple moving average is $156.48.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.63%. Extra Space Storage’s dividend payout ratio is presently 144.32%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on EXR shares. Wells Fargo & Company increased their price target on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Barclays raised their target price on shares of Extra Space Storage from $158.00 to $188.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. KeyCorp raised their target price on shares of Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Citigroup cut their target price on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, June 7th. Finally, Bank of America cut shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $172.00 to $155.00 in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Extra Space Storage currently has an average rating of “Hold” and a consensus target price of $170.93.

Insider Activity at Extra Space Storage

In related news, EVP William N. Springer sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total transaction of $350,660.00. Following the transaction, the executive vice president now owns 11,919 shares in the company, valued at $2,089,758.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP William N. Springer sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total transaction of $350,660.00. Following the transaction, the executive vice president now owns 11,919 shares in the company, valued at $2,089,758.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kenneth M. Woolley sold 6,647 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $177.23, for a total transaction of $1,178,047.81. Following the transaction, the director now owns 404,306 shares in the company, valued at approximately $71,655,152.38. The disclosure for this sale can be found here. Insiders have sold 11,470 shares of company stock worth $2,028,407 over the last quarter. 1.36% of the stock is currently owned by company insiders.

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.