Extra Space Storage Inc. (NYSE:EXR) Position Increased by NewEdge Wealth LLC

NewEdge Wealth LLC boosted its holdings in Extra Space Storage Inc. (NYSE:EXR) by 30.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,655 shares of the real estate investment trust’s stock after buying an additional 850 shares during the quarter. NewEdge Wealth LLC’s holdings in Extra Space Storage were worth $586,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of EXR. Whittier Trust Co. grew its holdings in shares of Extra Space Storage by 4.5% in the 4th quarter. Whittier Trust Co. now owns 1,656 shares of the real estate investment trust’s stock worth $266,000 after acquiring an additional 72 shares during the last quarter. Private Advisor Group LLC increased its stake in Extra Space Storage by 5.6% in the 1st quarter. Private Advisor Group LLC now owns 1,404 shares of the real estate investment trust’s stock worth $289,000 after purchasing an additional 74 shares in the last quarter. Thomas White International Ltd. raised its holdings in Extra Space Storage by 5.9% during the 4th quarter. Thomas White International Ltd. now owns 1,483 shares of the real estate investment trust’s stock worth $218,000 after buying an additional 83 shares during the period. Geneos Wealth Management Inc. lifted its stake in Extra Space Storage by 35.2% during the first quarter. Geneos Wealth Management Inc. now owns 384 shares of the real estate investment trust’s stock valued at $78,000 after buying an additional 100 shares in the last quarter. Finally, Horizon Investments LLC lifted its stake in Extra Space Storage by 3.3% during the first quarter. Horizon Investments LLC now owns 3,578 shares of the real estate investment trust’s stock valued at $736,000 after buying an additional 114 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on EXR. Truist Financial boosted their price target on shares of Extra Space Storage from $138.00 to $152.00 and gave the company a “hold” rating in a report on Thursday, December 28th. TheStreet raised Extra Space Storage from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Barclays initiated coverage on Extra Space Storage in a research report on Wednesday, March 27th. They set an “overweight” rating and a $157.00 price target on the stock. StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. Finally, The Goldman Sachs Group upped their target price on Extra Space Storage from $168.00 to $187.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $150.17.

Extra Space Storage Price Performance

Shares of EXR opened at $135.87 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market cap of $28.75 billion, a PE ratio of 27.50, a PEG ratio of 3.46 and a beta of 0.74. The firm’s 50 day moving average price is $143.10 and its 200 day moving average price is $137.46. Extra Space Storage Inc. has a twelve month low of $101.19 and a twelve month high of $164.99.

Extra Space Storage (NYSE:EXR) last announced 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). The company had revenue of $797.77 million during the quarter, compared to analyst estimates of $778.05 million. Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. Extra Space Storage’s quarterly revenue was up 57.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.09 EPS. As a group, research analysts expect that Extra Space Storage Inc. will post 8.05 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $1.62 per share. The ex-dividend date was Thursday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.77%. Extra Space Storage’s dividend payout ratio (DPR) is presently 131.17%.

Insider Activity

In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly 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 SEC, which is available through this link. In other news, EVP Gwyn Goodson Mcneal sold 1,350 shares of Extra Space Storage stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $145.00, for a total value of $195,750.00. Following the transaction, the executive vice president now directly owns 37,028 shares in the company, valued at $5,369,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Samrat Sondhi sold 2,048 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $146.46, for a total value of $299,950.08. Following the transaction, 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 have sold a total of 3,532 shares of company stock valued at $514,819 over the last 90 days. 1.36% of the stock is currently owned by company insiders.

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.