Gradient Investments LLC Has $17.76 Million Stake in Extra Space Storage Inc. (NYSE:EXR)

Gradient Investments LLC cut its stake in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 36.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 120,811 shares of the real estate investment trust's stock after selling 69,805 shares during the quarter. Gradient Investments LLC owned approximately 0.06% of Extra Space Storage worth $17,759,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Zions Bancorporation N.A. boosted its position in Extra Space Storage by 241.9% in the third quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 150 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in Extra Space Storage during the 4th quarter valued at $26,000. Creekmur Asset Management LLC acquired a new position in Extra Space Storage in the fourth quarter worth $26,000. EverSource Wealth Advisors LLC increased its stake in shares of Extra Space Storage by 162.5% in the third quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 143 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in Extra Space Storage during the 3rd quarter worth about $32,000. Institutional investors and hedge funds own 99.11% of the company's stock.

Extra Space Storage Stock Up 1.5 %

EXR traded up $2.08 during trading on Friday, reaching $141.87. The company had a trading volume of 969,162 shares, compared to its average volume of 1,172,821. The business's fifty day moving average price is $141.56 and its 200 day moving average price is $138.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.15 and a quick ratio of 0.30. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $164.99. The company has a market cap of $30.02 billion, a P/E ratio of 31.60, a PEG ratio of 3.43 and a beta of 0.76.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its 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 6.76% and a net margin of 29.10%. The company had revenue of $797.77 million during the quarter, compared to analyst estimates of $778.05 million. During the same period in the previous year, the company posted $2.09 earnings per share. Extra Space Storage's revenue for the quarter was up 57.4% on a year-over-year basis. Equities analysts anticipate that Extra Space Storage Inc. will post 8.05 EPS for the current year.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend was Thursday, March 14th. Extra Space Storage's dividend payout ratio (DPR) is currently 144.32%.

Insider Transactions at Extra Space Storage

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Extra Space Storage in a report on Tuesday, January 30th. They issued a "hold" rating and a $141.00 price target for the company. Evercore ISI cut their price objective on shares of Extra Space Storage from $145.00 to $139.00 in a report on Wednesday. TheStreet raised Extra Space Storage from a "c+" rating to a "b-" rating in a research note on Thursday, January 11th. The Goldman Sachs Group upped their price objective on Extra Space Storage from $168.00 to $187.00 and gave the company a "buy" rating in a report on Thursday, January 11th. Finally, Scotiabank assumed coverage on Extra Space Storage in a report on Tuesday, February 13th. They set a "sector underperform" rating and a $131.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target 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.

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