Focus Partners Wealth raised its holdings in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 401.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 155,790 shares of the real estate investment trust's stock after purchasing an additional 124,739 shares during the period. Focus Partners Wealth owned 0.07% of Extra Space Storage worth $23,340,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new position in shares of Extra Space Storage in the fourth quarter worth $25,000. Harbour Investments Inc. lifted its holdings in Extra Space Storage by 90.9% during 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. Quent Capital LLC boosted its stake in Extra Space Storage by 89.0% in the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust's stock worth $49,000 after purchasing an additional 154 shares during the period. Asset Planning Inc purchased a new position in Extra Space Storage during the 4th quarter valued at about $52,000. Finally, Quarry LP increased its position in shares of Extra Space Storage by 156.1% during the fourth quarter. Quarry LP now owns 356 shares of the real estate investment trust's stock valued at $53,000 after buying an additional 217 shares during the period. 99.11% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms recently weighed in on EXR. Mizuho initiated coverage on shares of Extra Space Storage in a report on Wednesday, April 9th. They set an "outperform" rating and a $141.00 target price on the stock. Benchmark decreased their price target on shares of Extra Space Storage from $61.00 to $55.00 and set a "buy" rating on the stock in a report on Tuesday. Wells Fargo & Company lowered their price objective on Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating on the stock in a research report on Friday, February 21st. Evercore ISI lifted their price objective on Extra Space Storage from $144.00 to $149.00 and gave the company an "in-line" rating in a research note on Thursday, May 1st. Finally, Royal Bank of Canada decreased their target price on Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 1st. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $158.69.
Read Our Latest Research Report on Extra Space Storage
Insider Buying and Selling
In related news, EVP William N. Springer sold 1,220 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $152.66, for a total value of $186,245.20. Following the sale, the executive vice president now directly owns 20,158 shares of the company's stock, valued at $3,077,320.28. This trade represents a 5.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 9,190 shares of the company's stock, valued at $1,355,065.50. The trade was a 44.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,392 shares of company stock worth $1,392,315 in the last ninety days. 0.96% of the stock is owned by insiders.
Extra Space Storage Price Performance
EXR traded up $2.67 during midday trading on Thursday, hitting $148.48. The stock had a trading volume of 687,112 shares, compared to its average volume of 1,054,514. Extra Space Storage Inc. has a 1 year low of $121.03 and a 1 year high of $184.87. 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 business has a fifty day moving average of $143.25 and a 200 day moving average of $152.31. The company has a market cap of $31.51 billion, a P/E ratio of 38.87, a price-to-earnings-growth ratio of 7.76 and a beta of 1.14.
Extra Space Storage (NYSE:EXR - Get Free Report) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 EPS for the quarter, beating the consensus estimate of $1.96 by $0.04. The company had revenue of $820.00 million for 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 firm's quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.96 EPS. As a group, equities analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.
Extra Space Storage Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage's dividend payout ratio is presently 150.35%.
About Extra Space Storage
(
Free Report)
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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