Atria Wealth Solutions Inc. Sells 7,082 Shares of Extra Space Storage Inc (NYSE:EXR)

Key Points

• Atria Wealth Solutions Inc. has reduced its holdings in Extra Space Storage Inc by 53.1%, now owning 6,250 shares valued at $928,000.
• CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage at $150.35 each, representing a 21.58% decrease in his ownership.
• Extra Space Storage announced a quarterly dividend of $1.62, translating to an annual yield of 4.8%, with a current dividend payout ratio of 140.56%.

Atria Wealth Solutions Inc. decreased its stake in Extra Space Storage Inc (NYSE:EXR - Free Report) by 53.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,250 shares of the real estate investment trust's stock after selling 7,082 shares during the period. Atria Wealth Solutions Inc.'s holdings in Extra Space Storage were worth $928,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. D.A. Davidson & CO. lifted its holdings in Extra Space Storage by 7.2% in the 1st quarter. D.A. Davidson & CO. now owns 1,895 shares of the real estate investment trust's stock worth $281,000 after buying an additional 127 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Extra Space Storage by 1.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,222 shares of the real estate investment trust's stock worth $3,285,000 after acquiring an additional 398 shares during the last quarter. QRG Capital Management Inc. lifted its stake in Extra Space Storage by 21.4% in the 1st quarter. QRG Capital Management Inc. now owns 2,684 shares of the real estate investment trust's stock valued at $399,000 after buying an additional 474 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Extra Space Storage by 24.3% during the 1st quarter. Farther Finance Advisors LLC now owns 1,464 shares of the real estate investment trust's stock valued at $216,000 after buying an additional 286 shares during the period. Finally, IFP Advisors Inc grew its stake in shares of Extra Space Storage by 1,376.5% during the first quarter. IFP Advisors Inc now owns 1,698 shares of the real estate investment trust's stock worth $252,000 after purchasing an additional 1,583 shares in the last quarter. Institutional investors own 99.11% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EXR. BNP Paribas raised shares of Extra Space Storage to a "hold" rating in a research report on Tuesday, June 24th. Bank of America upped their target price on shares of Extra Space Storage from $155.00 to $161.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Evercore ISI cut their price target on shares of Extra Space Storage from $148.00 to $146.00 and set an "in-line" rating on the stock in a research report on Monday, August 4th. JPMorgan Chase & Co. raised their price target on shares of Extra Space Storage from $160.00 to $162.00 and gave the stock a "neutral" rating in a research note on Friday, June 13th. Finally, Mizuho raised their target price on shares of Extra Space Storage from $141.00 to $153.00 and gave the company an "outperform" rating in a research note on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $155.85.

Insider Activity

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total value of $1,127,625.00. Following the transaction, the chief executive officer directly owned 27,260 shares in the company, valued at $4,098,541. This trade represents a 21.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.96% of the company's stock.

Extra Space Storage Trading Up 0.3%

EXR stock traded up $0.38 during trading on Friday, hitting $137.01. The company had a trading volume of 1,194,960 shares, compared to its average volume of 1,345,268. The business has a 50-day moving average of $146.30 and a 200-day moving average of $147.31. Extra Space Storage Inc has a one year low of $121.03 and a one year high of $184.87. The stock has a market cap of $29.08 billion, a PE ratio of 29.72, a PEG ratio of 3.31 and a beta of 1.07. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.88.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.06 by ($0.01). The business had revenue of $841.62 million for the quarter, compared to the consensus estimate of $719.43 million. Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%. Extra Space Storage's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.06 earnings per share. Research analysts predict that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date was Monday, June 16th. Extra Space Storage's dividend payout ratio is presently 140.56%.

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.