Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Atria Investments Inc

Atria Investments Inc lowered its stake in Extra Space Storage Inc. (NYSE:EXR) by 40.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,508 shares of the real estate investment trust’s stock after selling 3,054 shares during the period. Atria Investments Inc’s holdings in Extra Space Storage were worth $812,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Intech Investment Management LLC raised its position in Extra Space Storage by 138.7% during the first quarter. Intech Investment Management LLC now owns 5,405 shares of the real estate investment trust’s stock valued at $795,000 after buying an additional 3,141 shares during the period. Covestor Ltd raised its position in Extra Space Storage by 67.7% during the first quarter. Covestor Ltd now owns 592 shares of the real estate investment trust’s stock valued at $87,000 after acquiring an additional 239 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of Extra Space Storage by 36.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,004 shares of the real estate investment trust’s stock worth $1,030,000 after purchasing an additional 1,875 shares during the last quarter. Lake Street Advisors Group LLC raised its holdings in shares of Extra Space Storage by 611.6% during the 1st quarter. Lake Street Advisors Group LLC now owns 10,717 shares of the real estate investment trust’s stock valued at $1,575,000 after purchasing an additional 9,211 shares in the last quarter. Finally, Twin Capital Management Inc. bought a new position in shares of Extra Space Storage during the 1st quarter valued at $783,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Price Performance

Shares of Extra Space Storage stock opened at $164.79 on Tuesday. The stock has a market capitalization of $34.93 billion, a price-to-earnings ratio of 43.08, a P/E/G ratio of 8.29 and a beta of 0.87. Extra Space Storage Inc. has a 1-year low of $125.32 and a 1-year high of $184.87. The firm’s 50-day moving average price is $171.50 and its two-hundred day moving average price is $162.82. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 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 company had revenue of $824.80 million for the quarter, compared to the consensus estimate of $826.93 million. During the same period last year, the company earned $2.02 earnings per share. Extra Space Storage’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities analysts predict that Extra Space Storage Inc. will post 8.09 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date is Monday, December 16th. Extra Space Storage’s dividend payout ratio is presently 169.63%.

Analyst Ratings Changes

Several research firms have recently issued reports on EXR. Jefferies Financial Group upgraded Extra Space Storage from a “hold” rating to a “buy” rating and upped their price target for the stock from $162.00 to $204.00 in a research note on Wednesday, September 18th. KeyCorp lifted their price target on shares of Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $175.00 price objective on shares of Extra Space Storage in a report on Monday, October 21st. Royal Bank of Canada initiated coverage on shares of Extra Space Storage in a report on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 price target for the company. Finally, Scotiabank raised their price objective on shares of Extra Space Storage from $159.00 to $169.00 and gave the stock a “sector underperform” rating in a research note on Thursday, August 22nd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $171.50.

Insider Buying and Selling

In other news, 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 transaction of $1,338,900.00. Following the completion of the transaction, the chief executive officer now directly owns 24,190 shares of the company’s stock, valued at $4,318,398.80. This represents a 23.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William N. Springer sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total transaction of $350,660.00. Following the completion of the transaction, the executive vice president now directly owns 11,919 shares of the company’s stock, valued at approximately $2,089,758.27. This trade represents a 14.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,970 shares of company stock valued at $3,367,307 over the last three months. Company insiders own 1.36% of the company’s stock.

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.