HighTower Advisors LLC Has $6.48 Million Stock Holdings in Extra Space Storage Inc $EXR

Key Points

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HighTower Advisors LLC lessened its position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 4.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,641 shares of the real estate investment trust's stock after selling 1,909 shares during the quarter. HighTower Advisors LLC's holdings in Extra Space Storage were worth $6,480,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. D.A. Davidson & CO. lifted its stake in shares of Extra Space Storage by 7.2% during the first quarter. D.A. Davidson & CO. now owns 1,895 shares of the real estate investment trust's stock valued at $281,000 after acquiring an additional 127 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Extra Space Storage by 1.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 22,222 shares of the real estate investment trust's stock valued at $3,285,000 after purchasing an additional 398 shares during the last quarter. QRG Capital Management Inc. increased its holdings in 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 valued at $399,000 after purchasing an additional 474 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Extra Space Storage by 24.3% in the first quarter. Farther Finance Advisors LLC now owns 1,464 shares of the real estate investment trust's stock valued at $216,000 after purchasing an additional 286 shares during the last quarter. Finally, IFP Advisors Inc increased its holdings in Extra Space Storage by 1,376.5% in the first quarter. IFP Advisors Inc now owns 1,698 shares of the real estate investment trust's stock valued at $252,000 after purchasing an additional 1,583 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Insider Activity

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 27,260 shares in the company, valued at approximately $4,098,541. This trade represents a 21.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.36% of the company's stock.

Extra Space Storage Stock Down 0.1%

NYSE:EXR opened at $136.89 on Tuesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market cap of $29.05 billion, a PE ratio of 29.69, a PEG ratio of 3.32 and a beta of 1.07. Extra Space Storage Inc has a 52-week low of $121.03 and a 52-week high of $184.87. The stock has a 50-day simple moving average of $146.03 and a 200 day simple moving average of $147.10.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.06 by ($0.01). The firm had revenue of $841.62 million for the quarter, compared to the consensus estimate of $719.43 million. Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.06 earnings per share. On average, sell-side analysts expect that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a dividend of $1.62 per share. The ex-dividend date was Monday, June 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.7%. Extra Space Storage's dividend payout ratio (DPR) is presently 140.56%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on EXR shares. Royal Bank Of Canada dropped their price objective on Extra Space Storage from $160.00 to $148.00 and set a "sector perform" rating for the company in a report on Monday, August 4th. JPMorgan Chase & Co. upped their price objective on Extra Space Storage from $160.00 to $162.00 and gave the company a "neutral" rating in a report on Friday, June 13th. BNP Paribas Exane started coverage on Extra Space Storage in a report on Tuesday, June 24th. They issued a "neutral" rating and a $156.00 price objective for the company. Wells Fargo & Company dropped their price objective on Extra Space Storage from $165.00 to $160.00 and set an "equal weight" rating for the company in a report on Wednesday, July 23rd. Finally, Evercore ISI lowered their price target on Extra Space Storage from $148.00 to $146.00 and set an "in-line" rating for the company in a report on Monday, August 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $155.85.

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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