Wealth Enhancement Advisory Services LLC Buys 4,183 Shares of Extra Space Storage Inc. (NYSE:EXR)

Wealth Enhancement Advisory Services LLC boosted its holdings in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 36.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,629 shares of the real estate investment trust's stock after acquiring an additional 4,183 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Extra Space Storage were worth $2,338,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Greenleaf Trust lifted its position in shares of Extra Space Storage by 15.0% during the 4th quarter. Greenleaf Trust now owns 2,160 shares of the real estate investment trust's stock worth $323,000 after buying an additional 282 shares in the last quarter. abrdn plc lifted its position in shares of Extra Space Storage by 1.5% during the 4th quarter. abrdn plc now owns 155,288 shares of the real estate investment trust's stock worth $23,012,000 after buying an additional 2,354 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of Extra Space Storage by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 168,459 shares of the real estate investment trust's stock worth $25,201,000 after buying an additional 695 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Extra Space Storage by 4.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,583 shares of the real estate investment trust's stock worth $5,112,000 after buying an additional 1,531 shares in the last quarter. Finally, Money Concepts Capital Corp lifted its position in shares of Extra Space Storage by 4.3% during the 4th quarter. Money Concepts Capital Corp now owns 5,065 shares of the real estate investment trust's stock worth $758,000 after buying an additional 209 shares in the last quarter. Institutional investors own 99.11% of the company's stock.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the completion of the transaction, the chief executive officer now directly owns 9,190 shares in the company, valued at $1,355,065.50. The trade was a 44.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph J. Bonner sold 672 shares of Extra Space Storage stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $149.10, for a total transaction of $100,195.20. Following the sale, the director now directly owns 4,557 shares of the company's stock, valued at $679,448.70. This represents a 12.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.96% of the company's stock.

Extra Space Storage Stock Performance

Extra Space Storage stock traded up $0.50 during mid-day trading on Friday, reaching $149.93. The company's stock had a trading volume of 692,661 shares, compared to its average volume of 1,063,699. Extra Space Storage Inc. has a 12-month low of $121.03 and a 12-month high of $184.87. The company has a market capitalization of $31.82 billion, a P/E ratio of 39.25, a PEG ratio of 7.76 and a beta of 1.11. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The firm's fifty day moving average price is $143.99 and its two-hundred day moving average price is $150.51.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.04. The firm had revenue of $820.00 million during the quarter, compared to analyst estimates of $705.12 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business's revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.96 EPS. Sell-side analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $1.62 per share. The ex-dividend date is Monday, June 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.32%. Extra Space Storage's dividend payout ratio (DPR) is currently 150.35%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Benchmark dropped their target price on shares of 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. The Goldman Sachs Group reissued a "buy" rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Scotiabank lifted 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. Barclays decreased their price target on shares of Extra Space Storage from $181.00 to $178.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Finally, Bank of America raised their price target on shares of Extra Space Storage from $155.00 to $161.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Extra Space Storage presently has an average rating of "Moderate Buy" and an average price target of $159.38.

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.