Segment Wealth Management LLC Buys New Holdings in Extra Space Storage Inc (NYSE:EXR)

Segment Wealth Management LLC acquired a new stake in Extra Space Storage Inc (NYSE:EXR - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,781 shares of the real estate investment trust's stock, valued at approximately $264,000.

Several other institutional investors have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund raised its position in Extra Space Storage by 0.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,160 shares of the real estate investment trust's stock worth $2,717,000 after buying an additional 66 shares during the last quarter. Lindbrook Capital LLC raised its holdings in shares of Extra Space Storage by 14.9% during the fourth quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust's stock worth $78,000 after purchasing an additional 68 shares during the last quarter. Aptus Capital Advisors LLC lifted its position in Extra Space Storage by 4.3% during the fourth quarter. Aptus Capital Advisors LLC now owns 1,638 shares of the real estate investment trust's stock valued at $245,000 after purchasing an additional 68 shares during the period. Siemens Fonds Invest GmbH boosted its holdings in Extra Space Storage by 3.0% in the fourth quarter. Siemens Fonds Invest GmbH now owns 2,320 shares of the real estate investment trust's stock valued at $342,000 after purchasing an additional 68 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position in Extra Space Storage by 5.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,327 shares of the real estate investment trust's stock worth $199,000 after purchasing an additional 73 shares during the period. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Extra Space Storage Stock Down 0.3%

Shares of EXR traded down $0.40 during mid-day trading on Tuesday, reaching $148.57. The company's stock had a trading volume of 1,224,405 shares, compared to its average volume of 1,054,849. Extra Space Storage Inc has a 12-month low of $121.03 and a 12-month high of $184.87. The stock has a market cap of $31.53 billion, a PE ratio of 34.47, a price-to-earnings-growth ratio of 3.55 and a beta of 1.11. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.33 and a quick ratio of 0.33. The company's 50 day moving average is $146.94 and its 200 day moving average is $148.78.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 EPS for the quarter, topping the consensus estimate of $1.96 by $0.04. Extra Space Storage had a net margin of 27.84% and a return on equity of 6.11%. The firm had revenue of $820.00 million for the quarter, compared to analyst estimates of $705.12 million. During the same period last year, the business earned $1.96 EPS. Extra Space Storage's revenue for the quarter was up 2.6% compared to the same quarter last year. Equities analysts anticipate that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.36%. The ex-dividend date is Monday, June 16th. Extra Space Storage's dividend payout ratio (DPR) is presently 150.35%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on EXR. Barclays lowered their price target on shares of Extra Space Storage from $181.00 to $178.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Bank of America increased their target price on shares of Extra Space Storage from $155.00 to $161.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. upped their price target on Extra Space Storage from $160.00 to $162.00 and gave the stock a "neutral" rating in a report on Friday, June 13th. BNP Paribas Exane initiated coverage on Extra Space Storage in a research report on Tuesday. They set a "neutral" rating and a $156.00 price target on the stock. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, Extra Space Storage currently has a consensus rating of "Moderate Buy" and a consensus price target of $159.29.

Insider Buying and Selling at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total value of $1,105,875.00. Following the completion of the sale, the chief executive officer now owns 9,190 shares in the company, valued at $1,355,065.50. This trade represents a 44.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.36% of the stock is owned by company insiders.

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.