Brasada Capital Management LP Sells 522 Shares of Extra Space Storage Inc. (NYSE:EXR)

Brasada Capital Management LP lessened its holdings in Extra Space Storage Inc. (NYSE:EXR) by 7.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 6,243 shares of the real estate investment trust’s stock after selling 522 shares during the period. Brasada Capital Management LP’s holdings in Extra Space Storage were worth $992,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Principal Securities Inc. purchased a new position in Extra Space Storage in the 4th quarter worth approximately $368,000. QRG Capital Management Inc. purchased a new position in Extra Space Storage during the fourth quarter valued at $242,000. Checchi Capital Advisers LLC increased its holdings in Extra Space Storage by 4.6% in the 4th quarter. Checchi Capital Advisers LLC now owns 3,239 shares of the real estate investment trust’s stock valued at $519,000 after acquiring an additional 142 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Extra Space Storage by 4.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 335,857 shares of the real estate investment trust’s stock worth $53,334,000 after purchasing an additional 13,274 shares in the last quarter. Finally, D Orazio & Associates Inc. bought a new position in shares of Extra Space Storage during the 4th quarter valued at about $200,000. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Extra Space Storage Trading Up 1.5 %

Shares of NYSE EXR opened at $177.43 on Wednesday. Extra Space Storage Inc. has a fifty-two week low of $101.19 and a fifty-two week high of $179.23. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.20 and a current ratio of 0.20. The company has a market cap of $37.60 billion, a price-to-earnings ratio of 39.52, a PEG ratio of 2.53 and a beta of 0.86. The business’s 50 day moving average price is $166.34 and its 200-day moving average price is $152.78.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date is Monday, September 16th. Extra Space Storage’s dividend payout ratio is currently 144.32%.

Insider Transactions at Extra Space Storage

In related news, EVP William N. Springer sold 2,000 shares of Extra Space Storage stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total transaction of $350,660.00. Following the completion of the sale, the executive vice president now owns 11,919 shares in the company, valued at approximately $2,089,758.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Extra Space Storage news, EVP William N. Springer sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total value of $350,660.00. Following the completion of the sale, the executive vice president now directly owns 11,919 shares in the company, valued at approximately $2,089,758.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gwyn Goodson Mcneal sold 2,823 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $177.01, for a total value of $499,699.23. Following the transaction, the executive vice president now directly owns 32,855 shares in the company, valued at approximately $5,815,663.55. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,323 shares of company stock worth $1,994,709. Insiders own 1.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EXR. Evercore ISI lifted their target price on Extra Space Storage from $166.00 to $167.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Bank of America downgraded Extra Space Storage from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $172.00 to $155.00 in a research note on Monday, August 5th. Truist Financial increased their target price on Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Raymond James upped their price target on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, Extra Space Storage has an average rating of “Hold” and a consensus price target of $168.36.

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.