Extra Space Storage Inc (NYSE:EXR) Shares Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC increased its holdings in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 9.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,328 shares of the real estate investment trust's stock after buying an additional 3,896 shares during the quarter. Wealthfront Advisers LLC's holdings in Extra Space Storage were worth $7,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in EXR. Harbour Investments Inc. lifted its holdings in shares of Extra Space Storage by 90.9% in the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 80 shares during the period. Quarry LP raised its holdings in Extra Space Storage by 156.1% in the 4th quarter. Quarry LP now owns 356 shares of the real estate investment trust's stock worth $53,000 after purchasing an additional 217 shares during the period. Golden State Wealth Management LLC raised its holdings in Extra Space Storage by 147.0% in the 1st quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust's stock worth $60,000 after purchasing an additional 241 shares during the period. Parvin Asset Management LLC acquired a new position in Extra Space Storage in the 4th quarter worth about $62,000. Finally, Wayfinding Financial LLC acquired a new position in Extra Space Storage in the 1st quarter worth about $76,000. Hedge funds and other institutional investors own 99.11% of the company's stock.

Extra Space Storage Trading Up 0.5%

Extra Space Storage stock traded up $0.80 during mid-day trading on Friday, hitting $148.07. The company's stock had a trading volume of 761,317 shares, compared to its average volume of 1,075,431. The firm has a market capitalization of $31.42 billion, a PE ratio of 34.36, a price-to-earnings-growth ratio of 3.61 and a beta of 1.10. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $184.87. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.85. The stock's fifty day moving average is $148.93 and its two-hundred day moving average is $148.39.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.04. Extra Space Storage had a return on equity of 6.11% and a net margin of 27.84%. The company had revenue of $820.00 million during the quarter, compared to analyst estimates of $705.12 million. During the same period in the prior year, the business posted $1.96 earnings per share. The firm's revenue for the quarter was up 2.6% compared to the same quarter last year. On average, 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 declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend was Monday, June 16th. Extra Space Storage's dividend payout ratio (DPR) is 150.35%.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction 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 directly owned 27,260 shares in the company, valued at $4,098,541. This represents a 21.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.96% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

EXR has been the subject of a number of analyst reports. BNP Paribas raised Extra Space Storage to a "hold" rating in a report on Tuesday, June 24th. Benchmark cut their price objective on Extra Space Storage from $61.00 to $55.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Royal Bank Of Canada cut their price objective on Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating for the company in a research note on Thursday, May 1st. Scotiabank boosted their price objective 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. Finally, JPMorgan Chase & Co. boosted their price objective on Extra Space Storage from $160.00 to $162.00 and gave the stock a "neutral" rating in a research note on Friday, June 13th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $159.29.

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.