HighTower Advisors LLC Has $2.91 Million Stock Position in Extra Space Storage Inc $EXR

Key Points

• HighTower Advisors LLC cut its stake in Extra Space Storage by 54.1% in the fourth quarter, leaving it with 22,368 shares worth about $2.91 million.
• Extra Space Storage’s latest earnings missed expectations, with Q1 EPS of $1.14 versus the $2.01 estimate, even though revenue came in slightly above consensus at $856.0 million.
• The company recently declared a quarterly dividend of $1.62 per share, equal to an annualized yield of about 4.5%, while analysts currently rate the stock a consensus Hold with a target price of $151.86.

HighTower Advisors LLC lowered its stake in Extra Space Storage Inc (NYSE:EXR - Free Report) by 54.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 22,368 shares of the real estate investment trust's stock after selling 26,408 shares during the period. HighTower Advisors LLC's holdings in Extra Space Storage were worth $2,913,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of EXR. NewEdge Advisors LLC grew its stake in Extra Space Storage by 9.3% in the 1st quarter. NewEdge Advisors LLC now owns 3,409 shares of the real estate investment trust's stock valued at $506,000 after buying an additional 291 shares during the last quarter. Empowered Funds LLC grew its stake in Extra Space Storage by 15.5% in the 1st quarter. Empowered Funds LLC now owns 4,912 shares of the real estate investment trust's stock valued at $729,000 after buying an additional 661 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Extra Space Storage in the 2nd quarter valued at about $457,000. First Trust Advisors LP grew its stake in Extra Space Storage by 184.1% in the 2nd quarter. First Trust Advisors LP now owns 108,205 shares of the real estate investment trust's stock valued at $15,954,000 after buying an additional 70,115 shares during the last quarter. Finally, Brown Advisory Inc. grew its stake in Extra Space Storage by 1.8% in the 2nd quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust's stock valued at $653,000 after buying an additional 80 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $142.08, for a total transaction of $1,065,600.00. Following the completion of the sale, the chief executive officer owned 66,495 shares of the company's stock, valued at approximately $9,447,609.60. This represents a 10.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.96% of the company's stock.

Extra Space Storage Stock Performance

NYSE EXR opened at $144.50 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $30.53 billion, a P/E ratio of 32.40, a P/E/G ratio of 4.69 and a beta of 1.22. Extra Space Storage Inc has a 12-month low of $125.71 and a 12-month high of $155.19. The firm has a 50-day moving average price of $139.25 and a two-hundred day moving average price of $138.43.

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 (EPS) for the quarter, missing analysts' consensus estimates of $2.01 by ($0.87). Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. The business had revenue of $856.03 million during the quarter, compared to the consensus estimate of $851.35 million. During the same period in the prior 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. Analysts anticipate that Extra Space Storage Inc will post 8.23 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, June 15th. Extra Space Storage's dividend payout ratio is 145.29%.

Analyst Ratings Changes

A number of brokerages recently commented on EXR. Wall Street Zen upgraded shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research note on Saturday. JPMorgan Chase & Co. upped their price target on shares of Extra Space Storage from $142.00 to $144.00 and gave the company a "neutral" rating in a research note on Monday, March 23rd. UBS Group boosted their price objective on shares of Extra Space Storage from $148.00 to $158.00 and gave the company a "buy" rating in a report on Monday, May 18th. Wells Fargo & Company cut their price objective on shares of Extra Space Storage from $150.00 to $148.00 and set an "overweight" rating for the company in a report on Thursday, April 16th. Finally, Truist Financial cut their price objective on shares of Extra Space Storage from $158.00 to $150.00 and set a "hold" rating for the company in a report on Wednesday, May 6th. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $151.86.

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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