Gallacher Capital Management LLC Sells 716 Shares of Extra Space Storage Inc. (NYSE:EXR)

Gallacher Capital Management LLC lessened its holdings in Extra Space Storage Inc. (NYSE:EXR) by 8.5% in the fourth quarter, Holdings Channel reports. The firm owned 7,714 shares of the real estate investment trust’s stock after selling 716 shares during the period. Gallacher Capital Management LLC’s holdings in Extra Space Storage were worth $1,154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in EXR. Golden State Wealth Management LLC purchased a new stake in shares of Extra Space Storage during the 4th quarter worth approximately $25,000. Harbour Investments Inc. increased its position in Extra Space Storage by 90.9% in the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 80 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Extra Space Storage in the third quarter worth $42,000. Quent Capital LLC increased its holdings in Extra Space Storage by 89.0% in the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 154 shares during the last quarter. Finally, Asset Planning Inc purchased a new stake in Extra Space Storage in the 4th quarter worth about $52,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on EXR shares. Truist Financial lifted their target price on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Wells Fargo & Company reduced their target price on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. The Goldman Sachs Group reiterated a “buy” rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Royal Bank of Canada reduced their price objective on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Finally, StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $171.09.

Insiders Place Their Bets

In other news, EVP William N. Springer sold 1,220 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $152.66, for a total value 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 approximately $3,077,320.28. This represents a 5.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph J. Bonner sold 672 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $149.10, for a total value of $100,195.20. Following the completion of the transaction, the director now owns 4,557 shares of the company’s stock, valued at $679,448.70. The trade was a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,392 shares of company stock valued at $1,396,515 in the last quarter. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $145.03 on Friday. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87. The business has a 50-day simple moving average of $152.94 and a 200 day simple moving average of $162.10. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The stock has a market cap of $30.75 billion, a price-to-earnings ratio of 37.97, a PEG ratio of 7.76 and a beta of 0.90.

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

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $1.62 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.47%. Extra Space Storage’s dividend payout ratio is presently 160.40%.

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.