Benjamin F. Edwards & Company Inc. Acquires New Shares in Extra Space Storage Inc. (NYSE:EXR)

Benjamin F. Edwards & Company Inc. bought a new position in shares of Extra Space Storage Inc. (NYSE:EXR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,572 shares of the real estate investment trust’s stock, valued at approximately $412,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EXR. Whittier Trust Co. increased its position in shares of Extra Space Storage by 4.5% during the 4th quarter. Whittier Trust Co. now owns 1,656 shares of the real estate investment trust’s stock worth $266,000 after purchasing an additional 72 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Extra Space Storage by 19.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 706 shares of the real estate investment trust’s stock valued at $113,000 after acquiring an additional 113 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Extra Space Storage by 30.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 515 shares of the real estate investment trust’s stock valued at $83,000 after acquiring an additional 119 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Extra Space Storage by 2.9% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,050 shares of the real estate investment trust’s stock worth $810,000 after acquiring an additional 142 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Extra Space Storage by 162.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 143 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Trading Down 1.6 %

Shares of NYSE:EXR opened at $140.95 on Thursday. The company has a market cap of $29.84 billion, a PE ratio of 31.39, a P/E/G ratio of 3.48 and a beta of 0.76. The company’s 50 day moving average is $141.74 and its two-hundred day moving average is $139.46. Extra Space Storage Inc. has a 52 week low of $101.19 and a 52 week high of $164.99. The company has a current ratio of 0.15, a quick ratio of 0.30 and a debt-to-equity ratio of 0.73.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 EPS for the quarter, missing the consensus estimate of $2.03 by ($1.01). The business had revenue of $797.77 million during the quarter, compared to analysts’ expectations of $778.05 million. Extra Space Storage had a net margin of 29.10% and a return on equity of 6.76%. The business’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same period last year, the company earned $2.09 EPS. Equities analysts predict that Extra Space Storage Inc. will post 8.05 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date was Thursday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is 144.32%.

Insider Buying and Selling at Extra Space Storage

In other news, CMO Samrat Sondhi sold 2,048 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $146.46, for a total transaction of $299,950.08. Following the completion of the sale, the chief marketing officer now owns 94,126 shares in the company, valued at approximately $13,785,693.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Extra Space Storage news, CMO Samrat Sondhi sold 2,048 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $145.00, for a total value 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 $5,369,060. The disclosure for this sale can be found here. Insiders have sold 3,532 shares of company stock worth $514,819 over the last three months. Insiders own 1.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EXR. Barclays initiated coverage on Extra Space Storage in a research report on Wednesday, March 27th. They issued an “overweight” rating and a $157.00 target price on the stock. TheStreet raised Extra Space Storage from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Raymond James restated an “outperform” rating and set a $160.00 target price on shares of Extra Space Storage in a report on Thursday, March 28th. The Goldman Sachs Group boosted their price target on shares of Extra Space Storage from $168.00 to $187.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Extra Space Storage in a research note on Tuesday, January 30th. They issued a “hold” rating and a $141.00 price objective for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average 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.