RNC Capital Management LLC Buys Shares of 1,673 Extra Space Storage Inc. (NYSE:EXR)

RNC Capital Management LLC bought a new stake in shares of Extra Space Storage Inc. (NYSE:EXR) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,673 shares of the real estate investment trust’s stock, valued at approximately $250,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. State of Alaska Department of Revenue grew its stake in Extra Space Storage by 0.6% during the 4th quarter. State of Alaska Department of Revenue now owns 125,233 shares of the real estate investment trust’s stock valued at $18,733,000 after acquiring an additional 689 shares in the last quarter. Vanderbilt University grew its stake in Extra Space Storage by 1.3% during the 4th quarter. Vanderbilt University now owns 17,528 shares of the real estate investment trust’s stock valued at $2,622,000 after acquiring an additional 220 shares in the last quarter. Money Concepts Capital Corp grew its stake in Extra Space Storage by 4.3% during the 4th quarter. Money Concepts Capital Corp now owns 5,065 shares of the real estate investment trust’s stock valued at $758,000 after acquiring an additional 209 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Extra Space Storage by 4.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,583 shares of the real estate investment trust’s stock valued at $5,112,000 after acquiring an additional 1,531 shares in the last quarter. Finally, Retirement Systems of Alabama grew its stake in shares of Extra Space Storage by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 168,459 shares of the real estate investment trust’s stock valued at $25,201,000 after buying an additional 695 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Transactions at Extra Space Storage

In other news, Director Diane Olmstead sold 3,081 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $164.56, for a total transaction of $507,009.36. Following the completion of the transaction, the director now directly owns 5,877 shares in the company, valued at $967,119.12. The trade was a 34.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the transaction, the chief executive officer now owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company’s stock.

Analysts Set New Price Targets

EXR has been the subject of several recent research reports. Barclays lowered their price target on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Scotiabank raised Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price target for the company in a research note on Friday, January 10th. Evercore ISI lowered their price target on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a research note on Monday, October 14th. Finally, Truist Financial boosted their price target on Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $174.00.

Extra Space Storage Stock Down 0.0 %

EXR opened at $156.01 on Friday. The business has a 50 day moving average price of $153.37 and a 200 day moving average price of $164.27. Extra Space Storage Inc. has a twelve month low of $131.02 and a twelve month high of $184.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The firm has a market cap of $33.07 billion, a P/E ratio of 40.84, a price-to-earnings-growth ratio of 7.67 and a beta of 0.91.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $1.62 per share. The ex-dividend date was Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.15%. Extra Space Storage’s dividend payout ratio (DPR) is presently 169.63%.

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.