Extra Space Storage Inc. (NYSE:EXR) Shares Purchased by Naviter Wealth LLC

Naviter Wealth LLC increased its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 15.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,563 shares of the real estate investment trust’s stock after purchasing an additional 1,782 shares during the quarter. Naviter Wealth LLC’s holdings in Extra Space Storage were worth $2,029,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of EXR. Golden State Wealth Management LLC acquired a new position in Extra Space Storage during the 4th quarter worth $25,000. Ashton Thomas Securities LLC acquired a new position in Extra Space Storage during the 3rd quarter worth $33,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Extra Space Storage during the 3rd quarter worth about $42,000. Quent Capital LLC boosted its position in shares of Extra Space Storage by 89.0% during the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 154 shares in the last quarter. Finally, Asset Planning Inc acquired a new position in shares of Extra Space Storage during the 4th quarter worth about $52,000. 99.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Royal Bank of Canada lowered their price objective on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday. Barclays lowered their price objective on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Wells Fargo & Company reduced their target price on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a report on Friday, February 21st. Finally, Scotiabank reduced their target price on Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating for the company in a report on Wednesday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $171.36.

Extra Space Storage Stock Up 1.3 %

EXR opened at $157.11 on Friday. The business has a 50 day moving average price of $152.91 and a two-hundred day moving average price of $163.07. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The company has a market cap of $33.31 billion, a PE ratio of 41.13, a P/E/G ratio of 7.76 and a beta of 0.90. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, beating the consensus estimate of $1.10 by $0.93. The firm had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. As a group, 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.12%. The ex-dividend date is Friday, March 14th. Extra Space Storage’s payout ratio is 160.40%.

Insiders Place Their Bets

In other Extra Space Storage news, EVP William N. Springer sold 1,220 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $152.66, for a total value of $186,245.20. Following the completion of the transaction, the executive vice president now owns 20,158 shares in the company, valued at approximately $3,077,320.28. This represents a 5.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the sale, the chief executive officer now owns 16,690 shares in the company, valued at $2,470,286.90. The trade was a 31.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by insiders.

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.