Global Wealth Management Investment Advisory Inc. Makes New Investment in Extra Space Storage Inc. (NYSE:EXR)

Global Wealth Management Investment Advisory Inc. acquired a new stake in Extra Space Storage Inc. (NYSE:EXR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 20,653 shares of the real estate investment trust's stock, valued at approximately $3,311,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EXR. Vanguard Group Inc. boosted its position in shares of Extra Space Storage by 55.7% during the third quarter. Vanguard Group Inc. now owns 33,686,341 shares of the real estate investment trust's stock worth $4,095,585,000 after purchasing an additional 12,055,172 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Extra Space Storage by 599.8% during the third quarter. JPMorgan Chase & Co. now owns 3,345,787 shares of the real estate investment trust's stock worth $406,781,000 after purchasing an additional 2,867,657 shares in the last quarter. Diamond Hill Capital Management Inc. bought a new position in shares of Extra Space Storage during the third quarter worth $173,621,000. First Eagle Investment Management LLC boosted its position in shares of Extra Space Storage by 233,362.8% during the third quarter. First Eagle Investment Management LLC now owns 1,323,734 shares of the real estate investment trust's stock worth $160,940,000 after purchasing an additional 1,323,167 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Extra Space Storage by 22.1% during the third quarter. Principal Financial Group Inc. now owns 6,505,834 shares of the real estate investment trust's stock worth $790,975,000 after purchasing an additional 1,178,760 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Stock Performance

NYSE EXR traded up $4.42 during trading on Wednesday, reaching $138.70. The company's stock had a trading volume of 2,020,462 shares, compared to its average volume of 1,184,809. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $29.35 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth ratio of 3.37 and a beta of 0.74. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $164.99. The firm has a 50 day moving average price of $141.64 and a 200 day moving average price of $138.54.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing analysts' consensus estimates of $2.03 by ($1.01). Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. The firm had revenue of $797.77 million for the quarter, compared to the consensus estimate of $778.05 million. During the same period last year, the company posted $2.09 EPS. The business's revenue was up 57.4% on a year-over-year basis. As a group, equities analysts anticipate that Extra Space Storage Inc. will post 8.05 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date was Thursday, March 14th. Extra Space Storage's dividend payout ratio (DPR) is presently 131.17%.

Insider Transactions at Extra Space Storage

In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the company's stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the transaction, the executive vice president now directly owns 37,028 shares in the company, valued at approximately $5,369,060. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the company's stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the transaction, the executive vice president now directly owns 37,028 shares in the company, valued at approximately $5,369,060. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Samrat Sondhi sold 2,048 shares of the company's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $146.46, for a total transaction of $299,950.08. Following the transaction, the chief marketing officer now owns 94,126 shares of the company's stock, valued at $13,785,693.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,532 shares of company stock valued at $514,819. Company insiders own 1.36% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Raymond James restated an "outperform" rating and set a $160.00 price objective on shares of Extra Space Storage in a report on Thursday, March 28th. Evercore ISI dropped their price objective on shares of Extra Space Storage from $145.00 to $139.00 in a report on Wednesday. StockNews.com lowered shares of Extra Space Storage from a "hold" rating to a "sell" rating in a report on Saturday, March 2nd. The Goldman Sachs Group raised their price objective on shares of Extra Space Storage from $168.00 to $187.00 and gave the stock a "buy" rating in a report on Thursday, January 11th. Finally, Wells Fargo & Company raised their price objective on shares of Extra Space Storage from $150.00 to $160.00 and gave the stock an "overweight" rating in a report on Friday, April 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $149.67.

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.