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

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

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC raised its position in Extra Space Storage by 8.2% during the 4th quarter. Empowered Funds LLC now owns 4,251 shares of the real estate investment trust's stock valued at $636,000 after purchasing an additional 323 shares during the last quarter. V Square Quantitative Management LLC raised its holdings in shares of Extra Space Storage by 11.5% during the fourth quarter. V Square Quantitative Management LLC now owns 2,636 shares of the real estate investment trust's stock valued at $394,000 after acquiring an additional 272 shares in the last quarter. Principal Securities Inc. lifted its stake in Extra Space Storage by 16.5% in the fourth quarter. Principal Securities Inc. now owns 3,034 shares of the real estate investment trust's stock worth $454,000 after acquiring an additional 429 shares during the period. Sanctuary Advisors LLC lifted its stake in Extra Space Storage by 7.1% in the fourth quarter. Sanctuary Advisors LLC now owns 19,790 shares of the real estate investment trust's stock worth $3,062,000 after acquiring an additional 1,310 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in Extra Space Storage by 4.5% in the fourth quarter. CIBC Asset Management Inc now owns 32,279 shares of the real estate investment trust's stock valued at $4,829,000 after acquiring an additional 1,402 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on EXR shares. Scotiabank raised their target price on shares of Extra Space Storage from $149.00 to $166.00 and gave the stock a "sector outperform" rating in a research report on Monday, May 12th. Royal Bank Of Canada decreased their price target on shares of 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. JPMorgan Chase & Co. raised 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. Benchmark cut their price objective on Extra Space Storage from $61.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Extra Space Storage in a report on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $159.54.

Extra Space Storage Stock Down 0.3%

Shares of EXR traded down $0.39 during mid-day trading on Friday, reaching $146.06. The company had a trading volume of 1,983,272 shares, compared to its average volume of 1,055,739. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.33 and a current ratio of 0.33. The company has a market capitalization of $30.99 billion, a price-to-earnings ratio of 33.89, a price-to-earnings-growth ratio of 3.56 and a beta of 1.11. The firm has a 50-day moving average price of $146.46 and a 200 day moving average price of $149.22. Extra Space Storage Inc has a 52 week low of $121.03 and a 52 week high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $820.00 million during the quarter, compared to analysts' expectations of $705.12 million. During the same quarter in the previous year, the business earned $1.96 earnings per share. The firm's quarterly revenue was up 2.6% compared to the same quarter last year. On average, sell-side analysts forecast that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend is Monday, June 16th. Extra Space Storage's dividend payout ratio (DPR) is 150.35%.

Insider Buying and Selling at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total value of $1,105,875.00. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.96% of the stock is owned by company insiders.

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.