Extra Space Storage Inc. (NYSE:EXR) Stake Trimmed by Private Advisor Group LLC

Private Advisor Group LLC lessened its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,304 shares of the real estate investment trust’s stock after selling 431 shares during the period. Private Advisor Group LLC’s holdings in Extra Space Storage were worth $3,038,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new position in shares of Extra Space Storage in the fourth quarter worth approximately $25,000. Ashton Thomas Securities LLC acquired a new position in Extra Space Storage in the 3rd quarter worth approximately $33,000. Harvest Fund Management Co. Ltd purchased a new position in Extra Space Storage during the 3rd quarter worth approximately $42,000. Quent Capital LLC raised its stake in Extra Space Storage by 89.0% during the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 154 shares during the period. Finally, Asset Planning Inc purchased a new stake in shares of Extra Space Storage in the fourth quarter valued at $52,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, 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 transaction of $1,110,075.00. Following the sale, the chief executive officer now directly owns 16,690 shares in the company, valued at $2,470,286.90. This represents a 31.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.36% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on EXR. Barclays lowered their price target on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Scotiabank raised 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 note on Friday, January 10th. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. Truist Financial boosted their price objective 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. Finally, Wells Fargo & Company dropped their price objective on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $173.09.

Extra Space Storage Price Performance

Shares of Extra Space Storage stock opened at $159.14 on Tuesday. The firm has a fifty day moving average price of $151.61 and a two-hundred day moving average price of $163.74. Extra Space Storage Inc. has a fifty-two week low of $131.02 and a fifty-two week high of $184.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The company has a market cap of $33.73 billion, a PE ratio of 41.66, a price-to-earnings-growth ratio of 7.76 and a beta of 0.91.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.07%. The ex-dividend date is Friday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is presently 169.63%.

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.