Jones Financial Companies Lllp Grows Stake in Extra Space Storage Inc. (NYSE:EXR)

Jones Financial Companies Lllp increased its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 20.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,109 shares of the real estate investment trust’s stock after buying an additional 185 shares during the quarter. Jones Financial Companies Lllp’s holdings in Extra Space Storage were worth $166,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in EXR. Assetmark Inc. grew its holdings in shares of Extra Space Storage by 4.5% during the third quarter. Assetmark Inc. now owns 6,413 shares of the real estate investment trust’s stock valued at $1,156,000 after buying an additional 277 shares during the last quarter. Axxcess Wealth Management LLC grew its holdings in shares of Extra Space Storage by 18.9% during the third quarter. Axxcess Wealth Management LLC now owns 1,538 shares of the real estate investment trust’s stock valued at $277,000 after buying an additional 244 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Extra Space Storage during the third quarter valued at $33,000. Aptus Capital Advisors LLC grew its holdings in shares of Extra Space Storage by 5.5% during the third quarter. Aptus Capital Advisors LLC now owns 1,570 shares of the real estate investment trust’s stock valued at $283,000 after buying an additional 82 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Extra Space Storage by 17.8% during the third quarter. Victory Capital Management Inc. now owns 167,257 shares of the real estate investment trust’s stock valued at $30,138,000 after buying an additional 25,321 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Extra Space Storage Stock Performance

Shares of EXR stock opened at $145.03 on Friday. The company has a market capitalization of $30.75 billion, a P/E ratio of 37.97, a P/E/G ratio of 7.76 and a beta of 0.90. Extra Space Storage Inc. has a 12-month low of $131.02 and a 12-month high of $184.87. The business’s 50 day moving average is $152.94 and its two-hundred day moving average is $162.21. 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 posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.93. The business had revenue of $821.90 million during the quarter, compared to analysts’ expectations of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. Analysts expect that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is presently 160.40%.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business’s 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 sale, the chief executive officer now directly owns 16,690 shares in the company, valued at $2,470,286.90. The trade was a 31.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph J. Bonner sold 672 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $149.10, for a total value of $100,195.20. Following the completion of the sale, the director now owns 4,557 shares of the company’s stock, valued at $679,448.70. This trade represents a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,392 shares of company stock worth $1,396,515 over the last three months. 1.36% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EXR. Barclays dropped their price objective on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a report on Wednesday. Royal Bank of Canada decreased their target price on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. Truist Financial boosted their target price on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. StockNews.com downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Finally, Scotiabank decreased their target price on shares of Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Extra Space Storage presently has a consensus rating of “Hold” and a consensus target price of $171.09.

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.