San Luis Wealth Advisors LLC Acquires Shares of 3,834 Extra Space Storage Inc. (NYSE:EXR)

San Luis Wealth Advisors LLC purchased a new position in Extra Space Storage Inc. (NYSE:EXR - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,834 shares of the real estate investment trust's stock, valued at approximately $569,000.

A number of other hedge funds have also recently made changes to their positions in EXR. Harbour Investments Inc. boosted its position 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 worth $25,000 after purchasing an additional 80 shares in the last quarter. Quarry LP boosted its position in shares of 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 in the last quarter. Kestra Investment Management LLC purchased a new stake in Extra Space Storage during the 4th quarter valued at $54,000. Parvin Asset Management LLC purchased a new stake in shares of Extra Space Storage in the 4th quarter worth $62,000. Finally, Lindbrook Capital LLC increased its stake in shares of Extra Space Storage by 14.9% in the 4th quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust's stock worth $78,000 after purchasing an additional 68 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

Insider Activity at Extra Space Storage

In other Extra Space Storage 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 sale, the chief executive officer now directly owns 9,190 shares of the company's stock, valued at approximately $1,355,065.50. This represents a 44.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.96% of the stock is owned by insiders.

Extra Space Storage Price Performance

Shares of EXR opened at $148.88 on Tuesday. The company has a market cap of $31.59 billion, a price-to-earnings ratio of 38.97, a price-to-earnings-growth ratio of 7.76 and a beta of 1.11. Extra Space Storage Inc. has a twelve month low of $121.03 and a twelve month high of $184.87. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The company has a 50 day moving average of $145.71 and a two-hundred day moving average of $149.41.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share for the quarter, beating the consensus estimate 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 net margin of 25.35% and a return on equity of 5.51%. Extra Space Storage's revenue was up 2.6% compared to the same quarter last year. During the same period last year, the firm earned $1.96 earnings per share. As a group, analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.35%. The ex-dividend date of this dividend is Monday, June 16th. Extra Space Storage's payout ratio is 150.35%.

Analyst Ratings Changes

EXR has been the subject of several analyst reports. Wells Fargo & Company reduced their price objective on Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating for the company in a research note on Friday, February 21st. The Goldman Sachs Group reissued a "buy" rating on shares of Extra Space Storage in a report on Thursday, March 6th. Benchmark lowered their price target on shares of Extra Space Storage from $61.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. JPMorgan Chase & Co. increased their price target on shares of Extra Space Storage from $160.00 to $162.00 and gave the company a "neutral" rating in a report on Friday. Finally, Barclays reduced their price objective on shares of Extra Space Storage from $181.00 to $178.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $159.54.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.