Donaldson Capital Management LLC Grows Holdings in Extra Space Storage Inc. (NYSE:EXR)

Donaldson Capital Management LLC increased its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 3.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 287,956 shares of the real estate investment trust’s stock after purchasing an additional 9,804 shares during the period. Extra Space Storage makes up approximately 1.6% of Donaldson Capital Management LLC’s investment portfolio, making the stock its 27th largest position. Donaldson Capital Management LLC’s holdings in Extra Space Storage were worth $43,078,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in EXR. Golden State Wealth Management LLC acquired a new position in Extra Space Storage during the fourth quarter worth $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Extra Space Storage in the 3rd quarter valued at $33,000. Harvest Fund Management Co. Ltd acquired a new position in Extra Space Storage during the 3rd quarter worth about $42,000. Continuum Advisory LLC boosted its holdings in Extra Space Storage by 68.1% during the 3rd quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust’s stock valued at $56,000 after acquiring an additional 126 shares during the period. Finally, Quent Capital LLC boosted its holdings in Extra Space Storage by 89.0% during the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 154 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the transaction, the chief executive officer now owns 16,690 shares in the company, valued at approximately $2,470,286.90. This represents a 31.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP William N. Springer sold 1,220 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $152.66, for a total transaction of $186,245.20. Following the completion of the transaction, the executive vice president now directly owns 20,158 shares in the company, valued at $3,077,320.28. This trade represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by insiders.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $155.60 on Tuesday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The company has a fifty day simple moving average of $153.08 and a 200-day simple moving average of $162.84. The stock has a market cap of $32.99 billion, a P/E ratio of 40.73, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90. Extra Space Storage Inc. has a 12-month low of $131.02 and a 12-month high of $184.87.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.93. The company had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. Equities analysts expect that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is 160.40%.

Analysts Set New Price Targets

A number of brokerages have issued reports on EXR. Wells Fargo & Company cut their price target on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Friday, February 21st. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Extra Space Storage in a research note on Thursday. Truist Financial increased their target price on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Scotiabank dropped their price target on shares of Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating for the company in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada reduced their price objective on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $171.36.

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.