EP Wealth Advisors LLC Sells 1,454 Shares of Extra Space Storage Inc. (NYSE:EXR)

EP Wealth Advisors LLC trimmed its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 18.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,613 shares of the real estate investment trust’s stock after selling 1,454 shares during the quarter. EP Wealth Advisors LLC’s holdings in Extra Space Storage were worth $1,060,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Extra Space Storage by 55.7% in the third quarter. Vanguard Group Inc. now owns 33,686,341 shares of the real estate investment trust’s stock worth $4,095,585,000 after purchasing an additional 12,055,172 shares during the last quarter. Norges Bank bought a new stake in shares of Extra Space Storage during the 4th quarter worth approximately $1,022,811,000. JPMorgan Chase & Co. boosted its holdings in Extra Space Storage by 599.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,345,787 shares of the real estate investment trust’s stock valued at $406,781,000 after acquiring an additional 2,867,657 shares during the period. Northern Trust Corp grew its position in Extra Space Storage by 59.3% in the 3rd quarter. Northern Trust Corp now owns 2,724,282 shares of the real estate investment trust’s stock valued at $331,218,000 after acquiring an additional 1,014,041 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Extra Space Storage by 89.4% in the third quarter. Invesco Ltd. now owns 1,732,322 shares of the real estate investment trust’s stock worth $210,616,000 after purchasing an additional 817,521 shares during the period. Institutional investors own 99.11% of the company’s stock.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, Director Joseph J. Bonner sold 677 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $148.22, for a total value of $100,344.94. Following the completion of the sale, the director now directly owns 5,229 shares in the company, valued at $775,042.38. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.36% of the company’s stock.

Extra Space Storage Price Performance

Shares of EXR stock opened at $155.01 on Tuesday. The stock’s 50-day moving average is $143.78 and its 200 day moving average is $145.66. Extra Space Storage Inc. has a 1-year low of $101.19 and a 1-year high of $164.99. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.15 and a quick ratio of 0.15. The company has a market cap of $32.82 billion, a P/E ratio of 34.52, a PEG ratio of 3.76 and a beta of 0.81.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date is Friday, June 14th. Extra Space Storage’s dividend payout ratio is currently 144.32%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EXR. Raymond James reissued an “outperform” rating and set a $160.00 target price on shares of Extra Space Storage in a research note on Thursday, March 28th. Evercore ISI reduced their target price on shares of Extra Space Storage from $145.00 to $139.00 in a research report on Wednesday, May 1st. Citigroup lowered their price target on Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, June 7th. StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, March 2nd. Finally, Wells Fargo & Company upped their target price on Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Extra Space Storage has a consensus rating of “Hold” and an average target price of $151.83.

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.