Courier Capital LLC Lowers Position in Extra Space Storage Inc. (NYSE:EXR)

Courier Capital LLC trimmed its stake in Extra Space Storage Inc. (NYSE:EXR) by 54.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,753 shares of the real estate investment trust’s stock after selling 14,084 shares during the quarter. Courier Capital LLC’s holdings in Extra Space Storage were worth $1,728,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of EXR. LPL Financial LLC grew its holdings in Extra Space Storage by 184.7% in the third quarter. LPL Financial LLC now owns 106,406 shares of the real estate investment trust’s stock valued at $12,937,000 after purchasing an additional 69,029 shares during the period. Cary Street Partners Investment Advisory LLC grew its stake in Extra Space Storage by 608.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 708 shares of the real estate investment trust’s stock worth $86,000 after buying an additional 608 shares during the period. Natixis Advisors L.P. grew its stake in Extra Space Storage by 77.2% during the third quarter. Natixis Advisors L.P. now owns 58,168 shares of the real estate investment trust’s stock worth $7,072,000 after buying an additional 25,342 shares during the period. Parkside Financial Bank & Trust grew its stake in Extra Space Storage by 153.8% during the third quarter. Parkside Financial Bank & Trust now owns 396 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 240 shares during the period. Finally, Profund Advisors LLC grew its stake in Extra Space Storage by 50.5% during the third quarter. Profund Advisors LLC now owns 3,123 shares of the real estate investment trust’s stock worth $380,000 after buying an additional 1,048 shares during the period. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EXR has been the subject of several research reports. Citigroup decreased their price objective on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Evercore ISI decreased their price objective on shares of Extra Space Storage from $145.00 to $139.00 in a research note on Wednesday, May 1st. StockNews.com downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Saturday, March 2nd. Barclays upped their target price on shares of Extra Space Storage from $157.00 to $158.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Finally, Raymond James restated an “outperform” rating and issued a $160.00 target price on shares of Extra Space Storage in a research note on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Extra Space Storage presently has a consensus rating of “Hold” and a consensus target price of $151.83.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, Director Joseph J. Bonner sold 677 shares of the stock in a transaction 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 sale, the director now directly owns 5,229 shares of the company’s stock, valued at $775,042.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.36% of the stock is currently owned by corporate insiders.

Extra Space Storage Stock Down 0.8 %

EXR traded down $1.25 during trading on Thursday, hitting $155.74. The company had a trading volume of 1,317,723 shares, compared to its average volume of 1,114,974. The company has a market cap of $32.97 billion, a PE ratio of 34.69, a P/E/G ratio of 3.77 and a beta of 0.81. The business has a 50-day moving average of $146.62 and a 200-day moving average of $146.72. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.15 and a quick ratio of 0.15. Extra Space Storage Inc. has a 1-year low of $101.19 and a 1-year high of $164.99.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $1.62 dividend. The ex-dividend date is Friday, June 14th. This represents a $6.48 annualized dividend and a yield of 4.16%. Extra Space Storage’s dividend payout ratio is presently 144.32%.

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.