Elevation Point Wealth Partners LLC Has $11.26 Million Position in Extra Space Storage Inc $EXR

Key Points

• Elevation Point Wealth Partners cut its Extra Space Storage stake by 23.7% in the first quarter, selling 26,614 shares and leaving it with 85,870 shares valued at about $11.26 million.
• Insider activity was also notable, as EVP Gwyn Goodson Mcneal sold 3,300 shares for $495,000, reducing her direct holding by 8.11%.
• Analysts remain mixed on EXR: the stock has a Hold consensus rating with an average price target of $153.07, while the company also reported quarterly EPS below estimates despite revenue coming in slightly ahead.

Elevation Point Wealth Partners LLC decreased its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 23.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 85,870 shares of the real estate investment trust's stock after selling 26,614 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in Extra Space Storage were worth $11,260,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Reflection Asset Management acquired a new stake in shares of Extra Space Storage during the 4th quarter valued at about $26,000. Caitong International Asset Management Co. Ltd acquired a new position in Extra Space Storage in the third quarter worth about $28,000. Rosenberg Matthew Hamilton boosted its holdings in Extra Space Storage by 442.9% during the fourth quarter. Rosenberg Matthew Hamilton now owns 266 shares of the real estate investment trust's stock valued at $35,000 after purchasing an additional 217 shares in the last quarter. DV Equities LLC acquired a new stake in Extra Space Storage during the fourth quarter valued at approximately $39,000. Finally, Zions Bancorporation National Association UT grew its stake in shares of Extra Space Storage by 172.3% in the 4th quarter. Zions Bancorporation National Association UT now owns 305 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 193 shares during the period. 99.11% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the company's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $150.00, for a total transaction of $495,000.00. Following the transaction, the executive vice president directly owned 37,374 shares in the company, valued at approximately $5,606,100. This represents a 8.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.96% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on EXR shares. Barclays increased their target price on Extra Space Storage from $164.00 to $170.00 and gave the stock an "overweight" rating in a report on Thursday, March 5th. Wall Street Zen lowered Extra Space Storage from a "hold" rating to a "sell" rating in a research note on Saturday, June 13th. Mizuho increased their price objective on Extra Space Storage from $150.00 to $155.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 27th. Weiss Ratings reissued a "hold (c)" rating on shares of Extra Space Storage in a report on Tuesday, April 21st. Finally, UBS Group boosted their price target on shares of Extra Space Storage from $148.00 to $158.00 and gave the company a "buy" rating in a research report on Monday, May 18th. Five investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $153.07.

Extra Space Storage Price Performance

EXR opened at $149.29 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.37. The stock has a market capitalization of $31.54 billion, a P/E ratio of 33.47, a price-to-earnings-growth ratio of 4.56 and a beta of 1.19. The company's 50 day simple moving average is $144.36 and its 200-day simple moving average is $141.02. Extra Space Storage Inc has a one year low of $125.71 and a one year high of $155.19.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.87). Extra Space Storage had a return on equity of 6.65% and a net margin of 27.66%.The company had revenue of $856.03 million during the quarter, compared to the consensus estimate of $851.35 million. During the same quarter last year, the firm earned $2.00 EPS. The business's revenue for the quarter was up 4.4% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Sell-side analysts anticipate that Extra Space Storage Inc will post 8.26 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Monday, June 15th. Extra Space Storage's dividend payout ratio (DPR) is presently 145.29%.

Extra Space Storage Profile

Extra Space Storage NYSE: EXR is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.

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