Extra Space Storage Inc. (NYSE:EXR) Holdings Cut by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC reduced its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 4.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,549 shares of the real estate investment trust’s stock after selling 69 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Extra Space Storage were worth $232,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Oak Thistle LLC acquired a new stake in shares of Extra Space Storage in the fourth quarter valued at about $399,000. Ignite Planners LLC raised its position in shares of Extra Space Storage by 3.9% during the fourth quarter. Ignite Planners LLC now owns 4,765 shares of the real estate investment trust’s stock worth $720,000 after acquiring an additional 181 shares during the last quarter. Fulcrum Capital LLC raised its position in shares of Extra Space Storage by 11.6% during the 4th quarter. Fulcrum Capital LLC now owns 1,659 shares of the real estate investment trust’s stock valued at $248,000 after acquiring an additional 172 shares during the last quarter. Matrix Trust Co grew its holdings in Extra Space Storage by 7.1% during the fourth quarter. Matrix Trust Co now owns 10,764 shares of the real estate investment trust’s stock valued at $1,610,000 after purchasing an additional 710 shares during the period. Finally, Czech National Bank raised its position in shares of Extra Space Storage by 6.5% during the fourth quarter. Czech National Bank now owns 45,963 shares of the real estate investment trust’s stock worth $6,876,000 after purchasing an additional 2,791 shares during the period. 99.11% of the stock is owned by hedge funds and other institutional investors.

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 shares were sold at an average price of $148.01, for a total value of $1,110,075.00. Following the transaction, the chief executive officer now owns 16,690 shares in the company, valued at approximately $2,470,286.90. The trade was a 31.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Diane Olmstead sold 3,081 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $164.56, for a total value of $507,009.36. Following the sale, the director now owns 5,877 shares of the company’s stock, valued at approximately $967,119.12. The trade was a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Scotiabank raised Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price target for the company in a research report on Friday, January 10th. Barclays cut their target price on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Wells Fargo & Company restated an “equal weight” rating and set a $175.00 target price on shares of Extra Space Storage in a research note on Monday, October 21st. Finally, 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 research report on Thursday, December 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $171.25.

Extra Space Storage Stock Down 0.6 %

NYSE EXR opened at $150.75 on Friday. The business has a fifty day moving average price of $157.24 and a two-hundred day moving average price of $164.90. The stock has a market capitalization of $31.96 billion, a PE ratio of 39.46, a PEG ratio of 7.18 and a beta of 0.91. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. Extra Space Storage Inc. has a fifty-two week low of $131.02 and a fifty-two week high of $184.87.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company had revenue of $824.80 million during the quarter, compared to the consensus estimate of $826.93 million. During the same period last year, the company posted $2.02 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. Equities analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend was Monday, December 16th. Extra Space Storage’s dividend payout ratio (DPR) is currently 169.63%.

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.