Tempus Wealth Planning LLC Has $204,000 Position in Extra Space Storage Inc (NYSE:EXR)

Key Points

• Tempus Wealth Planning LLC decreased its stake in Extra Space Storage Inc by 63.0%, reducing its holdings to 1,372 shares valued at $204,000 after selling 2,334 shares.
• Equities analysts have mixed ratings for Extra Space Storage, with a consensus target price of $157.69 and nine analysts rating it a "hold" while seven suggest a "buy".
• The company recently announced a quarterly dividend of $1.62 per share, which represents an annualized payout of $6.48 and a yield of 4.30%.

Tempus Wealth Planning LLC cut its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 63.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,372 shares of the real estate investment trust's stock after selling 2,334 shares during the period. Tempus Wealth Planning LLC's holdings in Extra Space Storage were worth $204,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Aptus Capital Advisors LLC increased its position in shares of Extra Space Storage by 4.3% during the 4th quarter. Aptus Capital Advisors LLC now owns 1,638 shares of the real estate investment trust's stock valued at $245,000 after purchasing an additional 68 shares during the last quarter. Siemens Fonds Invest GmbH increased its position in shares of Extra Space Storage by 3.0% during the 4th quarter. Siemens Fonds Invest GmbH now owns 2,320 shares of the real estate investment trust's stock valued at $342,000 after purchasing an additional 68 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of Extra Space Storage by 5.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,327 shares of the real estate investment trust's stock valued at $199,000 after purchasing an additional 73 shares during the last quarter. Exchange Traded Concepts LLC increased its position in shares of Extra Space Storage by 8.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 934 shares of the real estate investment trust's stock valued at $139,000 after purchasing an additional 73 shares during the last quarter. Finally, Naviter Wealth LLC boosted its stake in shares of Extra Space Storage by 0.6% during the first quarter. Naviter Wealth LLC now owns 13,645 shares of the real estate investment trust's stock valued at $2,007,000 after purchasing an additional 82 shares during the period. 99.11% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions 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 that occurred on Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total value of $1,127,625.00. Following the completion of the sale, 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 SEC, which is available at this hyperlink. 0.96% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Scotiabank increased their price target on Extra Space Storage from $149.00 to $166.00 and gave the company a "sector outperform" rating in a research note on Monday, May 12th. Wall Street Zen raised Extra Space Storage from a "sell" rating to a "hold" rating in a report on Wednesday, April 30th. Benchmark dropped their price objective on Extra Space Storage from $61.00 to $55.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. BNP Paribas raised Extra Space Storage to a "hold" rating in a research note on Tuesday, June 24th. Finally, Evercore ISI lifted their price target on Extra Space Storage from $144.00 to $149.00 and gave the stock an "in-line" rating in a research note on Thursday, May 1st. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $157.69.

Extra Space Storage Price Performance

NYSE EXR traded up $0.32 during mid-day trading on Friday, hitting $150.83. The stock had a trading volume of 866,679 shares, compared to its average volume of 1,052,046. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.85. The company has a 50 day simple moving average of $149.12 and a 200 day simple moving average of $148.43. The company has a market cap of $32.01 billion, a price-to-earnings ratio of 35.00, a P/E/G ratio of 3.66 and a beta of 1.10. 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 issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share for the quarter, beating analysts' consensus estimates of $1.96 by $0.04. The firm had revenue of $820.00 million for the quarter, compared to analysts' expectations of $705.12 million. Extra Space Storage had a return on equity of 6.11% and a net margin of 27.84%. The firm's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.96 earnings per share. Equities analysts forecast that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend was Monday, June 16th. Extra Space Storage's dividend payout ratio (DPR) is presently 150.35%.

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.