Fulton Breakefield Broenniman LLC Sells 61,304 Shares of Extra Space Storage Inc. (NYSE:EXR)

Fulton Breakefield Broenniman LLC reduced its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 85.3% during the third quarter, Holdings Channel reports. The firm owned 10,523 shares of the real estate investment trust’s stock after selling 61,304 shares during the period. Fulton Breakefield Broenniman LLC’s holdings in Extra Space Storage were worth $1,896,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. EdgeRock Capital LLC bought a new stake in shares of Extra Space Storage during the 2nd quarter worth $25,000. Centerpoint Advisors LLC bought a new position in shares of Extra Space Storage during the 2nd quarter worth $27,000. Blue Trust Inc. increased its holdings in Extra Space Storage by 540.5% in the 2nd quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 200 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in Extra Space Storage by 2,760.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 276 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in 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 valued at $72,000 after purchasing an additional 76 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Up 0.6 %

EXR opened at $172.12 on Thursday. The business’s fifty day simple moving average is $174.20 and its 200 day simple moving average is $158.66. Extra Space Storage Inc. has a 52 week low of $101.19 and a 52 week high of $184.87. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.76. The stock has a market cap of $36.44 billion, a PE ratio of 38.33, a P/E/G ratio of 6.47 and a beta of 0.86.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $1.62 per share. The ex-dividend date was Monday, September 16th. This represents a $6.48 annualized dividend and a dividend yield of 3.76%. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.32%.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total value of $1,338,900.00. Following the completion of the sale, the chief executive officer now owns 24,190 shares of the company’s stock, valued at $4,318,398.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Kenneth M. Woolley sold 6,647 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $177.23, for a total value of $1,178,047.81. Following the completion of the sale, the director now owns 404,306 shares of the company’s stock, valued at approximately $71,655,152.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total value of $1,338,900.00. Following the sale, the chief executive officer now owns 24,190 shares of the company’s stock, valued at $4,318,398.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,970 shares of company stock valued at $3,367,307. Corporate insiders own 1.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Barclays boosted their target price on shares of Extra Space Storage from $158.00 to $188.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Royal Bank of Canada initiated coverage on Extra Space Storage in a report on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 price target for the company. Jefferies Financial Group upgraded Extra Space Storage from a “hold” rating to a “buy” rating and boosted their price objective for the company from $162.00 to $204.00 in a research note on Wednesday, September 18th. Finally, Raymond James raised their target price on Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $170.80.

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.