Cetera Investment Advisers Has $5.84 Million Stake in Extra Space Storage Inc (NYSE:EXR)

Key Points

• Cetera Investment Advisers sold 4,707 shares of Extra Space Storage Inc, reducing its holdings by 10.7% and now owns 39,307 shares valued at approximately $5.84 million.
• Extra Space Storage reported quarterly earnings of $2.05 per share, missing estimates by $0.01, with revenue of $841.62 million, exceeding analyst expectations of $719.43 million.
• Institutional investors hold 99.11% of Extra Space Storage's stock, with several firms increasing their stakes recently, reflecting strong interest in the real estate investment trust.

Cetera Investment Advisers lessened its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 10.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,307 shares of the real estate investment trust's stock after selling 4,707 shares during the period. Cetera Investment Advisers' holdings in Extra Space Storage were worth $5,837,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EXR. Northern Trust Corp lifted its stake in shares of Extra Space Storage by 48.7% in the 4th quarter. Northern Trust Corp now owns 2,875,049 shares of the real estate investment trust's stock valued at $430,107,000 after purchasing an additional 941,212 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Extra Space Storage in the 4th quarter worth approximately $107,453,000. Cohen & Steers Inc. increased its position in shares of Extra Space Storage by 5.9% during the fourth quarter. Cohen & Steers Inc. now owns 9,246,133 shares of the real estate investment trust's stock valued at $1,383,094,000 after purchasing an additional 516,941 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Extra Space Storage in the 4th quarter valued at $74,984,000. Finally, GAMMA Investing LLC raised its stake in shares of Extra Space Storage by 14,642.5% in the 1st quarter. GAMMA Investing LLC now owns 431,512 shares of the real estate investment trust's stock valued at $64,075,000 after buying an additional 428,585 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on EXR. Royal Bank Of Canada decreased their price objective on Extra Space Storage from $160.00 to $148.00 and set a "sector perform" rating on the stock in a report on Monday. BNP Paribas raised Extra Space Storage to a "hold" rating in a research note on Tuesday, June 24th. Scotiabank increased their price objective on shares of Extra Space Storage from $149.00 to $166.00 and gave the company a "sector outperform" rating in a report on Monday, May 12th. Benchmark lowered their target price on shares of Extra Space Storage from $61.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Finally, Wall Street Zen upgraded Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Wednesday, April 30th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Extra Space Storage currently has an average rating of "Hold" and a consensus target price of $156.54.

Extra Space Storage Stock Down 0.9%

Shares of EXR stock traded down $1.29 on Monday, hitting $138.01. 1,309,628 shares of the stock were exchanged, compared to its average volume of 1,204,175. The business has a 50-day moving average of $148.78 and a 200 day moving average of $148.30. Extra Space Storage Inc has a fifty-two week low of $121.03 and a fifty-two week high of $184.87. The firm has a market capitalization of $29.29 billion, a P/E ratio of 29.94, a price-to-earnings-growth ratio of 3.38 and a beta of 1.07. The company has a current ratio of 0.29, a quick ratio of 0.33 and a debt-to-equity ratio of 0.88.

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

Extra Space Storage Announces Dividend

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

Insider Activity

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total transaction of $1,127,625.00. Following the transaction, the chief executive officer owned 27,260 shares of the company's stock, valued at $4,098,541. The trade was a 21.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.36% of the company's stock.

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.