Envestnet Portfolio Solutions Inc. Sells 1,727 Shares of Extra Space Storage Inc $EXR

Key Points

• Envestnet Portfolio Solutions Inc. reduced its holdings in Extra Space Storage Inc by 19.0%, selling 1,727 shares and now owning 7,367 shares valued at approximately $1,086,000.
• Extra Space Storage recently reported earnings per share (EPS) of $2.05, slightly missing the consensus estimate of $2.06, while quarterly revenue exceeded expectations at $841.62 million, reflecting a 3.8% year-over-year increase.
• The company declared a quarterly dividend of $1.62 per share, yielding 4.3%, with a payout ratio currently at 140.56%.

Envestnet Portfolio Solutions Inc. lowered its position in Extra Space Storage Inc (NYSE:EXR - Free Report) by 19.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,367 shares of the real estate investment trust's stock after selling 1,727 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Extra Space Storage were worth $1,086,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in EXR. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Extra Space Storage by 44.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 22,593 shares of the real estate investment trust's stock worth $3,355,000 after purchasing an additional 6,964 shares during the period. Exchange Traded Concepts LLC increased its holdings in shares of Extra Space Storage by 8.5% in the first quarter. Exchange Traded Concepts LLC now owns 934 shares of the real estate investment trust's stock worth $139,000 after purchasing an additional 73 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Extra Space Storage by 3.8% in the first quarter. Janney Montgomery Scott LLC now owns 5,952 shares of the real estate investment trust's stock worth $884,000 after purchasing an additional 219 shares during the period. QRG Capital Management Inc. increased its holdings in shares of Extra Space Storage by 21.4% in the first quarter. QRG Capital Management Inc. now owns 2,684 shares of the real estate investment trust's stock worth $399,000 after purchasing an additional 474 shares during the period. Finally, Johnson Investment Counsel Inc. increased its holdings in shares of Extra Space Storage by 2.2% in the first quarter. Johnson Investment Counsel Inc. now owns 15,379 shares of the real estate investment trust's stock worth $2,284,000 after purchasing an additional 336 shares during the period. Institutional investors own 99.11% of the company's stock.

Extra Space Storage Stock Performance

NYSE EXR opened at $151.66 on Friday. The company has a 50-day simple moving average of $142.23 and a two-hundred day simple moving average of $144.41. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.88. Extra Space Storage Inc has a 12-month low of $121.03 and a 12-month high of $175.57. The firm has a market cap of $32.19 billion, a price-to-earnings ratio of 32.90, a PEG ratio of 2.73 and a beta of 1.11.

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 the consensus estimate of $2.06 by ($0.01). Extra Space Storage had a net margin of 29.51% and a return on equity of 6.69%. The business had revenue of $841.62 million for the quarter, compared to analysts' expectations of $719.43 million. During the same quarter in the previous year, the company earned $2.06 earnings per share. The business's quarterly revenue was up 3.8% on a year-over-year basis. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. On average, equities analysts forecast that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.3%. The ex-dividend date was Monday, September 15th. Extra Space Storage's dividend payout ratio is presently 140.56%.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $141.41, for a total transaction of $1,060,575.00. Following the completion of the sale, the chief executive officer directly owned 19,760 shares in the company, valued at $2,794,261.60. This represents a 27.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.96% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on EXR shares. Wells Fargo & Company raised shares of Extra Space Storage from an "equal weight" rating to an "overweight" rating and set a $160.00 price target on the stock in a report on Tuesday, August 26th. Scotiabank cut their target price on shares of Extra Space Storage from $166.00 to $162.00 and set a "sector outperform" rating for the company in a research report on Thursday, August 28th. BNP Paribas Exane initiated coverage on shares of Extra Space Storage in a research report on Tuesday, June 24th. They issued a "neutral" rating and a $156.00 target price for the company. Truist Financial cut their target price on shares of Extra Space Storage from $158.00 to $150.00 and set a "hold" rating for the company in a research report on Tuesday, August 19th. Finally, BNP Paribas upgraded shares of Extra Space Storage to a "hold" rating in a research report on Tuesday, June 24th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $148.64.

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.

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