Extra Space Storage Inc. (NYSE:EXR) Shares Acquired by Merit Financial Group LLC

Merit Financial Group LLC lifted its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 163.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,124 shares of the real estate investment trust’s stock after acquiring an additional 1,936 shares during the quarter. Merit Financial Group LLC’s holdings in Extra Space Storage were worth $467,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV boosted its position in Extra Space Storage by 8.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 3,599 shares of the real estate investment trust’s stock worth $568,000 after acquiring an additional 270 shares during the last quarter. Blair William & Co. IL acquired a new stake in Extra Space Storage during the 2nd quarter valued at $221,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Extra Space Storage by 3.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,730 shares of the real estate investment trust’s stock worth $424,000 after acquiring an additional 94 shares during the last quarter. Profund Advisors LLC boosted its stake in shares of Extra Space Storage by 2.9% during the 2nd quarter. Profund Advisors LLC now owns 3,279 shares of the real estate investment trust’s stock valued at $510,000 after buying an additional 93 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in shares of Extra Space Storage by 5.9% in the 2nd quarter. ProShare Advisors LLC now owns 37,384 shares of the real estate investment trust’s stock worth $5,810,000 after purchasing an additional 2,093 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insider Buying and Selling

In other news, Director Diane Olmstead sold 3,081 shares of the 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 completion of the transaction, the director now directly owns 5,877 shares in the company, valued at approximately $967,119.12. This represents a 34.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred 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 approximately $2,470,286.90. This represents 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 owned by company insiders.

Extra Space Storage Trading Up 1.0 %

Shares of EXR stock opened at $151.54 on Friday. Extra Space Storage Inc. has a 52-week low of $131.02 and a 52-week high of $184.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The firm has a fifty day moving average of $156.45 and a 200-day moving average of $164.83. The stock has a market cap of $32.12 billion, a price-to-earnings ratio of 39.67, a P/E/G ratio of 7.57 and a beta of 0.91.

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). 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 business earned $2.02 earnings per share. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities research analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend was Monday, December 16th. Extra Space Storage’s payout ratio is presently 169.63%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on EXR shares. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. 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. Barclays dropped their target price on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Truist Financial raised their price target on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Finally, 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 research report on Friday, January 10th. Two investment 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.com, the company presently has an average rating of “Hold” and an average target price of $171.25.

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.