Wealth Enhancement Advisory Services LLC Cuts Stake in Extra Space Storage Inc. (NYSE:EXR)

Wealth Enhancement Advisory Services LLC lessened its position in Extra Space Storage Inc. (NYSE:EXR) by 0.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 11,356 shares of the real estate investment trust’s stock after selling 90 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Extra Space Storage were worth $1,699,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in Extra Space Storage during the third quarter worth about $33,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Extra Space Storage during the 3rd quarter worth approximately $42,000. Continuum Advisory LLC raised its stake in shares of Extra Space Storage by 68.1% during the 3rd quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 126 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of Extra Space Storage by 441.2% in the 2nd quarter. Sunbelt Securities Inc. now owns 617 shares of the real estate investment trust’s stock valued at $96,000 after buying an additional 503 shares during the period. Finally, DiNuzzo Private Wealth Inc. purchased a new stake in shares of Extra Space Storage in the third quarter valued at approximately $129,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, 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 value of $1,110,075.00. Following the completion of the transaction, the chief executive officer now directly owns 16,690 shares in the company, valued at approximately $2,470,286.90. The trade was a 31.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Diane Olmstead sold 3,081 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $164.56, for a total value of $507,009.36. Following the sale, the director now owns 5,877 shares in the company, valued at $967,119.12. This trade represents a 34.39 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on EXR. Truist Financial increased their price objective on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $175.00 price target on shares of Extra Space Storage in a report on Monday, October 21st. Scotiabank raised shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective on the stock in a report on Friday, January 10th. Jefferies Financial Group upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and upped their target price for the stock from $162.00 to $204.00 in a research report on Wednesday, September 18th. Finally, StockNews.com downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $171.25.

Extra Space Storage Trading Up 0.5 %

Shares of Extra Space Storage stock opened at $149.51 on Thursday. The business has a 50 day moving average price of $157.83 and a 200 day moving average price of $164.93. The company has a market capitalization of $31.69 billion, a P/E ratio of 39.14, a P/E/G ratio of 7.96 and a beta of 0.91. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. Extra Space Storage Inc. has a 1 year low of $131.02 and a 1 year high of $184.87.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). The company had revenue of $824.80 million during the quarter, compared to analyst estimates of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the firm earned $2.02 earnings per share. Sell-side analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $1.62 dividend. The ex-dividend date was Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a yield of 4.33%. Extra Space Storage’s dividend payout ratio (DPR) is 169.63%.

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.