Extra Space Storage Inc (NYSE:EXR) Stock Position Lifted by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its stake in Extra Space Storage Inc (NYSE:EXR - Free Report) by 44.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,593 shares of the real estate investment trust's stock after buying an additional 6,964 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Extra Space Storage were worth $3,355,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Harbour Investments Inc. lifted its position in Extra Space Storage by 90.9% during the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 80 shares in the last quarter. Quarry LP raised its stake in shares of Extra Space Storage by 156.1% during the fourth quarter. Quarry LP now owns 356 shares of the real estate investment trust's stock valued at $53,000 after purchasing an additional 217 shares during the period. Parvin Asset Management LLC acquired a new position in shares of Extra Space Storage during the fourth quarter worth $62,000. Lindbrook Capital LLC boosted its stake in shares of Extra Space Storage by 14.9% in the fourth quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust's stock valued at $78,000 after purchasing an additional 68 shares during the period. Finally, Generali Asset Management SPA SGR purchased a new position in shares of Extra Space Storage in the fourth quarter valued at $84,000. Hedge funds and other institutional investors own 99.11% of the company's stock.

Extra Space Storage Stock Performance

Shares of NYSE EXR traded up $1.58 during midday trading on Monday, hitting $147.44. The company's stock had a trading volume of 1,393,372 shares, compared to its average volume of 1,054,113. The firm has a market cap of $31.29 billion, a P/E ratio of 34.21, a P/E/G ratio of 3.54 and a beta of 1.11. Extra Space Storage Inc has a 1-year low of $121.03 and a 1-year high of $184.87. The firm's fifty day moving average price is $147.49 and its 200-day moving average price is $148.38. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.33 and a current ratio of 0.33.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its earnings results 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. The company had revenue of $820.00 million during the quarter, compared to the consensus estimate of $705.12 million. Extra Space Storage had a return on equity of 6.11% and a net margin of 27.84%. Extra Space Storage's quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.96 earnings per share. On average, sell-side analysts forecast that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date of this dividend is Monday, June 16th. Extra Space Storage's payout ratio is 150.35%.

Wall Street Analyst Weigh In

EXR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Extra Space Storage from $160.00 to $162.00 and gave the stock a "neutral" rating in a report on Friday, June 13th. BNP Paribas upgraded Extra Space Storage to a "hold" rating in a research note on Tuesday, June 24th. Barclays reduced their price target on Extra Space Storage from $181.00 to $178.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Wall Street Zen upgraded Extra Space Storage from a "sell" rating to a "hold" rating in a report on Wednesday, April 30th. Finally, Scotiabank increased their target price on Extra Space Storage from $149.00 to $166.00 and gave the company a "sector outperform" rating in a research note on Monday, May 12th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Extra Space Storage currently has an average rating of "Hold" and a consensus target price of $159.29.

Insider Activity

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the completion of the transaction, the chief executive officer directly owned 9,190 shares of the company's stock, valued at $1,355,065.50. The trade was a 44.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.36% of the company's stock.

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.