Shell Asset Management Co. Trims Position in Extra Space Storage Inc. (NYSE:EXR)

Shell Asset Management Co. lessened its stake in Extra Space Storage Inc. (NYSE:EXR) by 20.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,573 shares of the real estate investment trust’s stock after selling 656 shares during the period. Shell Asset Management Co.’s holdings in Extra Space Storage were worth $378,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. EdgeRock Capital LLC purchased a new position in Extra Space Storage in the 4th quarter worth about $26,000. Creekmur Asset Management LLC purchased a new position in Extra Space Storage in the 4th quarter worth about $26,000. Livforsakringsbolaget Skandia Omsesidigt increased its stake in Extra Space Storage by 200.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 300 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 200 shares during the period. Cornerstone Advisors LLC purchased a new position in Extra Space Storage in the 1st quarter worth about $74,000. Finally, Parkside Financial Bank & Trust grew its holdings in Extra Space Storage by 30.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 515 shares of the real estate investment trust’s stock worth $83,000 after acquiring an additional 119 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Up 2.4 %

EXR stock opened at $164.61 on Friday. The firm has a 50 day moving average of $154.38 and a 200 day moving average of $147.36. The stock has a market capitalization of $34.85 billion, a PE ratio of 36.66, a price-to-earnings-growth ratio of 3.39 and a beta of 0.83. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.73. Extra Space Storage Inc. has a 52 week low of $101.19 and a 52 week high of $171.46.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend was Friday, June 14th. Extra Space Storage’s dividend payout ratio is presently 144.32%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Raymond James increased their target price on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Tuesday. StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday. Barclays increased their target price on shares of Extra Space Storage from $157.00 to $158.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Evercore ISI increased their target price on shares of Extra Space Storage from $140.00 to $151.00 and gave the stock an “in-line” rating in a report on Monday, July 15th. Finally, Citigroup lowered their price target 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Extra Space Storage has a consensus rating of “Hold” and an average target price of $157.67.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the completion of the transaction, the chief executive officer now directly owns 31,690 shares of the company’s stock, valued at approximately $4,835,260.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Extra Space Storage news, Director Joseph J. Bonner sold 677 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $148.22, for a total transaction of $100,344.94. Following the completion of the transaction, the director now directly owns 5,229 shares of the company’s stock, valued at approximately $775,042.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the transaction, the chief executive officer now directly owns 31,690 shares of the company’s stock, valued at $4,835,260.20. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by 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.