Avantax Advisory Services Inc. Has $585,000 Position in Extra Space Storage Inc. (NYSE:EXR)

Avantax Advisory Services Inc. lowered its holdings in Extra Space Storage Inc. (NYSE:EXR) by 53.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,649 shares of the real estate investment trust’s stock after selling 4,271 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Extra Space Storage were worth $585,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in EXR. California Public Employees Retirement System increased its stake in Extra Space Storage by 42.0% in the third quarter. California Public Employees Retirement System now owns 513,179 shares of the real estate investment trust’s stock valued at $62,392,000 after acquiring an additional 151,908 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in Extra Space Storage by 59.8% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,908 shares of the real estate investment trust’s stock valued at $597,000 after acquiring an additional 1,836 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Extra Space Storage in the third quarter valued at about $408,000. Sentry Investment Management LLC increased its stake in Extra Space Storage by 39.0% in the third quarter. Sentry Investment Management LLC now owns 1,208 shares of the real estate investment trust’s stock valued at $147,000 after acquiring an additional 339 shares during the period. Finally, Hartline Investment Corp bought a new stake in Extra Space Storage during the third quarter worth about $990,000. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Trading Down 2.8 %

Shares of NYSE EXR opened at $146.08 on Wednesday. The company’s 50 day simple moving average is $142.25 and its 200 day simple moving average is $142.49. Extra Space Storage Inc. has a fifty-two week low of $101.19 and a fifty-two week high of $164.99. The firm has a market capitalization of $30.93 billion, a P/E ratio of 32.53, a P/E/G ratio of 3.73 and a beta of 0.76. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.15 and a quick ratio of 0.15.

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

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $1.62 dividend. The ex-dividend date was Thursday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.44%. Extra Space Storage’s dividend payout ratio is currently 144.32%.

Insider Activity at Extra Space Storage

In related news, 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 transaction, the chief marketing officer now directly owns 94,126 shares in the company, valued at $13,785,693.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total value of $195,750.00. Following the sale, the executive vice president now directly owns 37,028 shares in the company, valued at $5,369,060. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction 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 completion of the sale, the chief marketing officer now owns 94,126 shares in the company, valued at $13,785,693.96. The disclosure for this sale can be found here. Insiders have sold 3,532 shares of company stock worth $514,819 over the last ninety days. Company insiders own 1.36% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on EXR. Scotiabank began coverage on shares of Extra Space Storage in a research note on Tuesday, February 13th. They set a “sector underperform” rating and a $131.00 price objective on the stock. Evercore ISI decreased their price objective on shares of Extra Space Storage from $145.00 to $139.00 in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of Extra Space Storage in a research note on Tuesday, January 30th. They set a “hold” rating and a $141.00 price objective on the stock. Raymond James reaffirmed an “outperform” rating and set a $160.00 price objective on shares of Extra Space Storage in a research note on Thursday, March 28th. Finally, Wells Fargo & Company upped their price objective on shares of Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $149.75.

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.