Venturi Wealth Management LLC Increases Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Venturi Wealth Management LLC lifted its stake in Extra Space Storage Inc. (NYSE:EXR) by 3.3% in the third quarter, Holdings Channel.com reports. The firm owned 6,653 shares of the real estate investment trust’s stock after buying an additional 211 shares during the period. Venturi Wealth Management LLC’s holdings in Extra Space Storage were worth $1,199,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of EXR. EdgeRock Capital LLC purchased a new position in Extra Space Storage during the 2nd quarter valued at $25,000. Centerpoint Advisors LLC purchased a new position in Extra Space Storage during the 2nd quarter valued at $27,000. Ashton Thomas Securities LLC purchased a new position in Extra Space Storage during the 3rd quarter valued at $33,000. Blue Trust Inc. boosted its holdings in Extra Space Storage by 540.5% during the 2nd quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 200 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in Extra Space Storage by 2,760.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 276 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total value of $1,338,900.00. Following the transaction, the chief executive officer now directly owns 24,190 shares of the company’s stock, valued at approximately $4,318,398.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Kenneth M. Woolley sold 6,647 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $177.23, for a total value of $1,178,047.81. Following the sale, the director now owns 404,306 shares in the company, valued at $71,655,152.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total value of $1,338,900.00. Following the completion of the sale, the chief executive officer now owns 24,190 shares in the company, valued at $4,318,398.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,970 shares of company stock valued at $3,367,307. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Trading Down 1.3 %

EXR opened at $165.48 on Tuesday. The firm has a market cap of $35.08 billion, a price-to-earnings ratio of 43.32, a PEG ratio of 6.31 and a beta of 0.87. The company has a current ratio of 0.23, a quick ratio of 0.20 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 12 month low of $116.23 and a 12 month high of $184.87. The stock has a fifty day moving average price of $172.62 and a 200-day moving average price of $161.82.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($1.12). Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business had revenue of $824.80 million for the quarter, compared to analyst estimates of $826.93 million. During the same period in the prior year, the company earned $2.02 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, equities research analysts anticipate that Extra Space Storage Inc. will post 8.08 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.92%. The ex-dividend date was Monday, September 16th. Extra Space Storage’s dividend payout ratio is currently 169.63%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on EXR. Bank of America cut Extra Space Storage from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $172.00 to $155.00 in a report on Monday, August 5th. Raymond James upped their target price on Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Wells Fargo & Company reiterated an “equal weight” rating and issued a $175.00 target price on shares of Extra Space Storage in a report on Monday, October 21st. Scotiabank upped their target price on Extra Space Storage from $159.00 to $169.00 and gave the stock a “sector underperform” rating in a report on Thursday, August 22nd. Finally, KeyCorp upped their target price on Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $171.50.

Extra Space Storage Company 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.