Envestnet Portfolio Solutions Inc. Reduces Position in Extra Space Storage Inc (NYSE:EXR)

Envestnet Portfolio Solutions Inc. trimmed its position in Extra Space Storage Inc (NYSE:EXR - Free Report) by 27.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,094 shares of the real estate investment trust's stock after selling 3,461 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Extra Space Storage were worth $1,350,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of EXR. Oregon Public Employees Retirement Fund increased its position in shares of 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 purchasing an additional 66 shares during the last quarter. Lindbrook Capital LLC boosted its stake in 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 buying an additional 68 shares during the period. Aptus Capital Advisors LLC increased its position in shares of 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 acquiring an additional 68 shares during the last quarter. Siemens Fonds Invest GmbH increased its position in shares of Extra Space Storage by 3.0% during 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 acquiring an additional 68 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Extra Space Storage by 5.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,327 shares of the real estate investment trust's stock valued at $199,000 after acquiring an additional 73 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Stock Up 0.1%

Shares of EXR stock traded up $0.10 during trading hours on Friday, reaching $145.75. 1,429,122 shares of the stock were exchanged, compared to its average volume of 1,052,739. The business's fifty day moving average is $147.49 and its two-hundred day moving average is $148.45. The firm has a market capitalization of $30.93 billion, a P/E ratio of 33.82, a P/E/G ratio of 3.54 and a beta of 1.11. Extra Space Storage Inc has a 12-month low of $121.03 and a 12-month high of $184.87. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.33 and a quick ratio of 0.33.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.00 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $820.00 million for the quarter, compared to the consensus estimate of $705.12 million. During the same period in the prior year, the firm posted $1.96 EPS. The company's quarterly revenue was up 2.6% compared to the same quarter last year. As a group, research analysts expect that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $1.62 per share. The ex-dividend date is Monday, June 16th. This represents a $6.48 annualized dividend and a dividend yield of 4.45%. Extra Space Storage's dividend payout ratio is currently 150.35%.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction on 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 transaction, the chief executive officer now owns 9,190 shares in the company, valued at approximately $1,355,065.50. This represents a 44.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.96% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Wednesday, April 30th. Scotiabank upped their price target on Extra Space Storage from $149.00 to $166.00 and gave the stock a "sector outperform" rating in a research note on Monday, May 12th. Bank of America lifted their price objective on Extra Space Storage from $155.00 to $161.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. BNP Paribas Exane assumed coverage on Extra Space Storage in a research note on Tuesday. They set a "neutral" rating and a $156.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their target price on Extra Space Storage from $160.00 to $162.00 and gave the company a "neutral" rating in a research report on Friday, June 13th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $159.29.

About Extra Space Storage

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.