NewEdge Advisors LLC Has $466,000 Stake in Extra Space Storage Inc. (NYSE:EXR)

NewEdge Advisors LLC lowered its position in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 44.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,118 shares of the real estate investment trust's stock after selling 2,461 shares during the quarter. NewEdge Advisors LLC's holdings in Extra Space Storage were worth $466,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund increased its stake in shares of Extra Space Storage by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,160 shares of the real estate investment trust's stock valued at $2,717,000 after acquiring an additional 66 shares during the period. Wedge Capital Management L L P NC increased its stake in shares of Extra Space Storage by 1.3% during the fourth quarter. Wedge Capital Management L L P NC now owns 5,138 shares of the real estate investment trust's stock valued at $769,000 after acquiring an additional 68 shares during the period. Lindbrook Capital LLC increased its stake in shares of Extra Space Storage by 14.9% during the fourth quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust's stock valued at $78,000 after acquiring an additional 68 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Extra Space Storage by 5.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,327 shares of the real estate investment trust's stock valued at $199,000 after acquiring an additional 73 shares during the period. Finally, Checchi Capital Advisers LLC increased its stake in shares of Extra Space Storage by 2.2% during the fourth quarter. Checchi Capital Advisers LLC now owns 3,449 shares of the real estate investment trust's stock valued at $516,000 after acquiring an additional 75 shares during the period. Institutional investors and hedge funds own 99.11% of the company's stock.

Extra Space Storage Trading Up 1.3 %

Extra Space Storage stock traded up $1.94 during midday trading on Thursday, reaching $148.46. The stock had a trading volume of 1,467,697 shares, compared to its average volume of 1,063,061. The firm's fifty day simple moving average is $144.80 and its two-hundred day simple moving average is $153.76. Extra Space Storage Inc. has a twelve month low of $121.03 and a twelve month high of $184.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The firm has a market cap of $31.51 billion, a price-to-earnings ratio of 38.86, a PEG ratio of 7.76 and a beta of 0.96.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.96 by $0.04. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The company had revenue of $820.00 million during the quarter, compared to analyst estimates of $705.12 million. During the same quarter last year, the business posted $1.96 EPS. The company's revenue for the quarter was up 2.6% on a year-over-year basis. Equities analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.36%. The ex-dividend date was Friday, March 14th. Extra Space Storage's payout ratio is currently 160.40%.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction dated 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 $1,355,065.50. This represents a 44.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph J. Bonner sold 672 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $149.10, for a total value of $100,195.20. Following the completion of the transaction, the director now directly owns 4,557 shares in the company, valued at approximately $679,448.70. The trade was a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,392 shares of company stock valued at $1,392,315 in the last three months. Insiders own 1.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Scotiabank upgraded shares of Extra Space Storage from a "sector perform" rating to a "sector outperform" rating and lowered their price objective for the company from $165.00 to $149.00 in a research note on Wednesday, April 9th. The Goldman Sachs Group restated a "buy" rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Wells Fargo & Company decreased their price target on shares of 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 target on shares of Extra Space Storage from $144.00 to $149.00 and gave the stock an "in-line" rating in a research report on Thursday. Finally, 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 on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Extra Space Storage has an average rating of "Moderate Buy" and a consensus target price of $165.42.

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.