Allworth Financial LP Reduces Stake in Extra Space Storage Inc. (NYSE:EXR)

Allworth Financial LP lessened its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 4.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,009 shares of the real estate investment trust’s stock after selling 176 shares during the quarter. Allworth Financial LP’s holdings in Extra Space Storage were worth $602,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EXR. Golden State Wealth Management LLC purchased a new stake in Extra Space Storage during the 4th quarter valued at approximately $25,000. Ashton Thomas Securities LLC purchased a new position in Extra Space Storage during the 3rd quarter worth $33,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Extra Space Storage in the third quarter valued at about $42,000. Continuum Advisory LLC increased its stake in shares of Extra Space Storage by 68.1% during the third quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 126 shares during the period. Finally, Quent Capital LLC increased its stake in shares of Extra Space Storage by 89.0% during the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 154 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Wall Street Analyst Weigh In

EXR has been the topic of a number of recent analyst reports. Truist Financial boosted their price target on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Scotiabank upgraded shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 target price on the stock in a research report on Friday, January 10th. Barclays lowered 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. Finally, StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Extra Space Storage currently has a consensus rating of “Hold” and an average target price of $174.00.

Insider Transactions at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the completion of the sale, the chief executive officer now directly owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $155.99 on Friday. Extra Space Storage Inc. has a 52-week low of $131.02 and a 52-week high of $184.87. The firm has a fifty day moving average of $151.71 and a 200-day moving average of $163.79. The firm has a market capitalization of $33.07 billion, a P/E ratio of 40.83, a PEG ratio of 7.71 and a beta of 0.91. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77.

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.