Navellier & Associates Inc. Sells 742 Shares of Extra Space Storage Inc. (NYSE:EXR)

Navellier & Associates Inc. cut its holdings in Extra Space Storage Inc. (NYSE:EXR) by 20.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,877 shares of the real estate investment trust’s stock after selling 742 shares during the period. Navellier & Associates Inc.’s holdings in Extra Space Storage were worth $518,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Graypoint LLC lifted its position in Extra Space Storage by 4.3% during the third quarter. Graypoint LLC now owns 1,575 shares of the real estate investment trust’s stock valued at $284,000 after purchasing an additional 65 shares in the last quarter. Hummer Financial Advisory Services Inc lifted its position in shares of Extra Space Storage by 1.2% during the 3rd quarter. Hummer Financial Advisory Services Inc now owns 5,920 shares of the real estate investment trust’s stock valued at $1,067,000 after buying an additional 70 shares in the last quarter. Buckley Wealth Management LLC grew its stake in shares of Extra Space Storage by 1.9% during the 3rd quarter. Buckley Wealth Management LLC now owns 3,811 shares of the real estate investment trust’s stock valued at $687,000 after acquiring an additional 71 shares during the period. Massmutual Trust Co. FSB ADV increased its holdings in Extra Space Storage by 19.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust’s stock worth $72,000 after acquiring an additional 76 shares in the last quarter. Finally, Bleakley Financial Group LLC raised its stake in Extra Space Storage by 4.1% during the 3rd quarter. Bleakley Financial Group LLC now owns 1,973 shares of the real estate investment trust’s stock worth $356,000 after acquiring an additional 77 shares during the period. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Performance

Extra Space Storage stock opened at $167.32 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The company has a market capitalization of $35.47 billion, a PE ratio of 43.80, a P/E/G ratio of 8.34 and a beta of 0.87. The company has a 50 day moving average price of $170.84 and a 200-day moving average price of $163.18. Extra Space Storage Inc. has a fifty-two week low of $125.32 and a fifty-two week high of $184.87.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($1.12). The firm had revenue of $824.80 million during the quarter, compared to analysts’ expectations of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. Extra Space Storage’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.02 earnings per share. As a group, equities analysts forecast that Extra Space Storage Inc. will post 8.09 earnings per share for the current year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $1.62 dividend. The ex-dividend date is Monday, December 16th. This represents a $6.48 annualized dividend and a dividend yield of 3.87%. Extra Space Storage’s payout ratio is presently 169.63%.

Analysts Set New Price Targets

EXR has been the subject of a number of recent analyst reports. Scotiabank upped their price target on shares of Extra Space Storage from $159.00 to $169.00 and gave the stock a “sector underperform” rating in a research report on Thursday, August 22nd. Barclays increased their price target on Extra Space Storage from $188.00 to $192.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Jefferies Financial Group upgraded Extra Space Storage from a “hold” rating to a “buy” rating and boosted their price objective for the company from $162.00 to $204.00 in a research report on Wednesday, September 18th. Evercore ISI dropped their price objective on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a research note on Monday, October 14th. Finally, StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Extra Space Storage has an average rating of “Hold” and a consensus price target of $171.50.

Insider Activity

In other Extra Space Storage news, Director Kenneth M. Woolley sold 6,647 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $177.23, for a total value of $1,178,047.81. Following the completion of the sale, the director now directly owns 404,306 shares in the company, valued at $71,655,152.38. This trade represents a 1.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William N. Springer sold 2,000 shares of Extra Space Storage stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total transaction of $350,660.00. Following the completion of the transaction, the executive vice president now directly owns 11,919 shares in the company, valued at $2,089,758.27. This represents a 14.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,228 shares of company stock worth $3,374,617. Corporate insiders own 1.36% of the company’s stock.

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.