Mount Yale Investment Advisors LLC Invests $320,000 in Extra Space Storage Inc. (NYSE:EXR)

Mount Yale Investment Advisors LLC acquired a new stake in shares of Extra Space Storage Inc. (NYSE:EXR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,058 shares of the real estate investment trust’s stock, valued at approximately $320,000.

A number of other institutional investors have also made changes to their positions in the stock. Dynamic Technology Lab Private Ltd acquired a new position in Extra Space Storage during the fourth quarter valued at approximately $224,000. D.A. Davidson & CO. acquired a new position in Extra Space Storage during the 4th quarter worth $207,000. Cambridge Investment Research Advisors Inc. lifted its position in Extra Space Storage by 3.7% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 20,636 shares of the real estate investment trust’s stock worth $3,309,000 after acquiring an additional 745 shares during the last quarter. Commerce Bank boosted its holdings in Extra Space Storage by 0.9% during the fourth quarter. Commerce Bank now owns 13,961 shares of the real estate investment trust’s stock valued at $2,238,000 after acquiring an additional 131 shares during the period. Finally, Orion Portfolio Solutions LLC grew its position in shares of Extra Space Storage by 4.2% in the fourth quarter. Orion Portfolio Solutions LLC now owns 7,246 shares of the real estate investment trust’s stock valued at $1,158,000 after purchasing an additional 295 shares during the last quarter. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Stock Performance

Extra Space Storage stock opened at $182.16 on Wednesday. The firm has a market capitalization of $38.57 billion, a P/E ratio of 40.57, a P/E/G ratio of 2.56 and a beta of 0.86. The stock has a fifty day moving average price of $170.79 and a two-hundred day moving average price of $155.33. Extra Space Storage Inc. has a 52-week low of $101.19 and a 52-week high of $184.87. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.20 and a quick ratio of 0.20.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $1.62 dividend. The ex-dividend date is Monday, September 16th. This represents a $6.48 dividend on an annualized basis and a yield of 3.56%. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.32%.

Insiders Place Their Bets

In other news, EVP William N. Springer sold 2,000 shares of Extra Space Storage stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total value of $350,660.00. Following the completion of the transaction, the executive vice president now owns 11,919 shares in the company, valued at $2,089,758.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP William N. Springer sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total value of $350,660.00. Following the completion of the sale, the executive vice president now directly owns 11,919 shares in the company, valued at $2,089,758.27. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the transaction, the chief executive officer now owns 31,690 shares in the company, valued at approximately $4,835,260.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,970 shares of company stock valued at $3,172,757. 1.36% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on EXR shares. Bank of America downgraded Extra Space Storage from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $172.00 to $155.00 in a research note on Monday, August 5th. StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Wells Fargo & Company upped their target price on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. KeyCorp raised their price target on shares of Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Finally, Citigroup cut their price objective on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $170.93.

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.