Proficio Capital Partners LLC Buys Shares of 167,714 Extra Space Storage Inc. (NYSE:EXR)

Proficio Capital Partners LLC bought a new stake in Extra Space Storage Inc. (NYSE:EXR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 167,714 shares of the real estate investment trust’s stock, valued at approximately $25,090,000.

Other institutional investors also recently bought and sold shares of the company. Tidal Investments LLC lifted its holdings in Extra Space Storage by 34.4% in the third quarter. Tidal Investments LLC now owns 12,640 shares of the real estate investment trust’s stock valued at $2,278,000 after acquiring an additional 3,234 shares during the period. Swedbank AB increased its position in Extra Space Storage by 4.5% in the third quarter. Swedbank AB now owns 243,130 shares of the real estate investment trust’s stock worth $43,810,000 after buying an additional 10,408 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Extra Space Storage by 724.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust’s stock worth $357,100,000 after buying an additional 1,741,320 shares in the last quarter. Duff & Phelps Investment Management Co. increased its position in Extra Space Storage by 9.5% in the third quarter. Duff & Phelps Investment Management Co. now owns 35,503 shares of the real estate investment trust’s stock worth $6,397,000 after buying an additional 3,093 shares in the last quarter. Finally, Brown Financial Advisors increased its position in Extra Space Storage by 69.1% in the third quarter. Brown Financial Advisors now owns 9,134 shares of the real estate investment trust’s stock worth $1,646,000 after buying an additional 3,731 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Royal Bank of Canada reduced their price target on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a research report on Thursday. StockNews.com upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. Truist Financial upped their price target on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Scotiabank upgraded Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 target price for the company in a research report on Friday, January 10th. Finally, Barclays cut their target price on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Extra Space Storage has a consensus rating of “Hold” and a consensus price target of $171.55.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm’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 of the company’s stock, valued at $2,470,286.90. This trade represents a 31.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Performance

NYSE EXR opened at $152.36 on Friday. The stock has a market capitalization of $32.30 billion, a PE ratio of 39.88, a P/E/G ratio of 7.76 and a beta of 0.91. The business has a 50 day simple moving average of $152.27 and a two-hundred day simple moving average of $163.47. 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 1-year low of $131.02 and a 1-year high of $184.87.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, beating the consensus estimate 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%. On average, research analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage’s payout ratio is 160.40%.

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.