Janney Montgomery Scott LLC Sells 1,552 Shares of Extra Space Storage Inc. (NYSE:EXR)

Janney Montgomery Scott LLC reduced its holdings in Extra Space Storage Inc. (NYSE:EXR) by 21.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,733 shares of the real estate investment trust’s stock after selling 1,552 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Extra Space Storage were worth $858,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Czech National Bank boosted its position in Extra Space Storage by 7.0% during the 3rd quarter. Czech National Bank now owns 43,172 shares of the real estate investment trust’s stock worth $7,779,000 after acquiring an additional 2,826 shares during the last quarter. GAMMA Investing LLC grew its stake in Extra Space Storage by 32.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,738 shares of the real estate investment trust’s stock valued at $493,000 after buying an additional 664 shares during the last quarter. Atomi Financial Group Inc. acquired a new stake in Extra Space Storage during the 3rd quarter worth approximately $246,000. Wedmont Private Capital boosted its position in shares of Extra Space Storage by 17.7% in the third quarter. Wedmont Private Capital now owns 1,951 shares of the real estate investment trust’s stock valued at $330,000 after acquiring an additional 294 shares during the period. Finally, BSN CAPITAL PARTNERS Ltd bought a new position in shares of Extra Space Storage during the third quarter worth approximately $14,544,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on EXR. Evercore ISI decreased their target price on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a report on Monday, October 14th. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. Scotiabank raised shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 target price for the company in a research note on Friday, January 10th. Barclays reduced their price objective on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Finally, Truist Financial raised their price objective on Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Extra Space Storage has a consensus rating of “Hold” and a consensus target price of $174.00.

Extra Space Storage Stock Up 0.6 %

EXR opened at $155.87 on Friday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The stock has a market cap of $33.04 billion, a price-to-earnings ratio of 40.80, a PEG ratio of 7.67 and a beta of 0.91. Extra Space Storage Inc. has a twelve month low of $131.02 and a twelve month high of $184.87. The company’s 50-day moving average price is $153.70 and its two-hundred day moving average price is $164.32.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $1.62 per share. The ex-dividend date was Monday, December 16th. This represents a $6.48 annualized dividend and a dividend yield of 4.16%. Extra Space Storage’s dividend payout ratio is currently 169.63%.

Insider Buying and Selling

In related news, 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 completion of the sale, the director now owns 5,877 shares of the company’s stock, valued at $967,119.12. This trade represents a 34.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $2,470,286.90. This represents a 31.00 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by insiders.

About Extra Space Storage

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.