Fulton Breakefield Broenniman LLC Sells 12,679 Shares of Extra Space Storage Inc. (NYSE:EXR)

Fulton Breakefield Broenniman LLC cut its holdings in Extra Space Storage Inc. (NYSE:EXR) by 15.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 69,964 shares of the real estate investment trust’s stock after selling 12,679 shares during the period. Fulton Breakefield Broenniman LLC’s holdings in Extra Space Storage were worth $11,217,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of EXR. Zions Bancorporation N.A. boosted its holdings in Extra Space Storage by 241.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 150 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Extra Space Storage by 162.5% in the 3rd 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 bought a new position in Extra Space Storage in the 3rd quarter valued at $32,000. Anchor Investment Management LLC bought a new position in Extra Space Storage in the 4th quarter valued at $35,000. Finally, Bruce G. Allen Investments LLC bought a new position in Extra Space Storage in the 4th quarter valued at $41,000. 99.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on EXR shares. The Goldman Sachs Group raised their price target on shares of Extra Space Storage from $168.00 to $187.00 and gave the company a “buy” rating in a report on Thursday, January 11th. TheStreet upgraded shares of Extra Space Storage from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Wells Fargo & Company raised their price objective 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. Raymond James restated an “outperform” rating and set a $160.00 price objective on shares of Extra Space Storage in a research report on Thursday, March 28th. Finally, Scotiabank began coverage on shares of Extra Space Storage in a research report on Tuesday, February 13th. They set a “sector underperform” rating and a $131.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Extra Space Storage currently has a consensus rating of “Hold” and an average target price of $150.17.

Extra Space Storage Price Performance

Shares of NYSE:EXR opened at $133.47 on Friday. The stock has a market cap of $28.24 billion, a PE ratio of 27.02, a PEG ratio of 3.28 and a beta of 0.74. The company’s fifty day moving average is $141.87 and its 200 day moving average is $138.19. Extra Space Storage Inc. has a 52 week low of $101.19 and a 52 week 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.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share (EPS) 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 firm had revenue of $797.77 million during the quarter, compared to analysts’ expectations of $778.05 million. During the same quarter in the previous year, the firm posted $2.09 EPS. Extra Space Storage’s revenue was up 57.4% compared to the same quarter last year. Research analysts anticipate that Extra Space Storage Inc. will post 8.05 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date was Thursday, March 14th. Extra Space Storage’s payout ratio is 131.17%.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $145.00, for a total value of $195,750.00. Following the transaction, the executive vice president now owns 37,028 shares in the company, valued at $5,369,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CMO Samrat Sondhi sold 2,048 shares of Extra Space Storage 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 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 at the SEC website. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of Extra Space Storage 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 in the company, valued at approximately $5,369,060. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,532 shares of company stock worth $514,819. 1.36% of the stock is currently owned by company insiders.

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.