Extra Space Storage Inc $EXR Shares Sold by Adams Wealth Management

Adams Wealth Management decreased its position in shares of Extra Space Storage Inc (NYSE:EXR) by 66.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,924 shares of the real estate investment trust’s stock after selling 3,832 shares during the period. Adams Wealth Management’s holdings in Extra Space Storage were worth $284,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its position in shares of Extra Space Storage by 4.6% during the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,825 shares of the real estate investment trust’s stock valued at $269,000 after purchasing an additional 80 shares during the period. Brown Advisory Inc. lifted its holdings in shares of Extra Space Storage by 1.8% in the second quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust’s stock valued at $653,000 after buying an additional 80 shares during the period. Farther Finance Advisors LLC boosted its stake in Extra Space Storage by 6.5% during the second quarter. Farther Finance Advisors LLC now owns 1,559 shares of the real estate investment trust’s stock valued at $230,000 after buying an additional 95 shares in the last quarter. Moody Lynn & Lieberson LLC boosted its stake in Extra Space Storage by 0.4% during the second quarter. Moody Lynn & Lieberson LLC now owns 28,289 shares of the real estate investment trust’s stock valued at $4,171,000 after buying an additional 119 shares in the last quarter. Finally, Global X Japan Co. Ltd. grew its holdings in Extra Space Storage by 21.9% during the second quarter. Global X Japan Co. Ltd. now owns 680 shares of the real estate investment trust’s stock worth $100,000 after acquiring an additional 122 shares during the period. 99.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EXR has been the subject of a number of research analyst reports. Wells Fargo & Company raised shares of Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 price target for the company in a report on Tuesday, August 26th. Scotiabank dropped their target price on shares of Extra Space Storage from $166.00 to $162.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 28th. Morgan Stanley cut their target price on shares of Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating for the company in a research note on Friday, December 5th. Weiss Ratings restated a “hold (c)” rating on shares of Extra Space Storage in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada dropped their price target on Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating on the stock in a report on Friday, November 7th. Six research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, Extra Space Storage presently has a consensus rating of “Hold” and a consensus price target of $147.53.

Insiders Place Their Bets

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $141.41, for a total value of $1,060,575.00. Following the completion of the sale, the chief executive officer directly owned 19,760 shares of the company’s stock, valued at approximately $2,794,261.60. This represents a 27.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Up 1.1%

EXR stock opened at $134.54 on Monday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.24 and a quick ratio of 0.24. The firm has a market capitalization of $28.56 billion, a P/E ratio of 30.03, a P/E/G ratio of 2.56 and a beta of 1.26. Extra Space Storage Inc has a 52-week low of $121.03 and a 52-week high of $162.77. The company’s 50 day simple moving average is $137.30 and its 200-day simple moving average is $142.29.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.02. Extra Space Storage had a net margin of 28.40% and a return on equity of 6.56%. The firm had revenue of $858.46 million during the quarter, compared to analyst estimates of $736.26 million. During the same quarter last year, the business posted $2.07 EPS. The company’s revenue was up 4.1% on a year-over-year basis. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. As a group, equities research analysts anticipate that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Monday, December 15th. Extra Space Storage’s payout ratio is presently 144.64%.

About Extra Space Storage

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.