IFP Advisors Inc Reduces Stock Position in Extra Space Storage Inc. (NYSE:EXR)

IFP Advisors Inc cut its holdings in Extra Space Storage Inc. (NYSE:EXR – Get Rating) by 77.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 243 shares of the real estate investment trust’s stock after selling 814 shares during the quarter. IFP Advisors Inc’s holdings in Extra Space Storage were worth $34,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Massachusetts Financial Services Co. MA grew its position in shares of Extra Space Storage by 0.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,648,605 shares of the real estate investment trust’s stock valued at $630,149,000 after purchasing an additional 10,610 shares during the last quarter. Pictet Asset Management SA raised its stake in shares of Extra Space Storage by 7.5% in the 3rd quarter. Pictet Asset Management SA now owns 2,084,840 shares of the real estate investment trust’s stock valued at $359,005,000 after acquiring an additional 145,688 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Extra Space Storage by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,312,164 shares of the real estate investment trust’s stock valued at $269,781,000 after acquiring an additional 31,987 shares during the period. Ceredex Value Advisors LLC increased its stake in Extra Space Storage by 69.0% during the 4th quarter. Ceredex Value Advisors LLC now owns 934,970 shares of the real estate investment trust’s stock worth $137,609,000 after buying an additional 381,727 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in Extra Space Storage by 79.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 850,517 shares of the real estate investment trust’s stock valued at $144,690,000 after purchasing an additional 376,279 shares in the last quarter. 95.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Truist Financial boosted their price target on Extra Space Storage from $160.00 to $165.00 and gave the company a “hold” rating in a report on Wednesday, March 8th. Raymond James raised shares of Extra Space Storage from an “outperform” rating to a “strong-buy” rating and set a $185.00 target price on the stock in a report on Tuesday, April 4th. KeyCorp dropped their price target on Extra Space Storage from $190.00 to $172.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 5th. Bank of America initiated coverage on Extra Space Storage in a report on Monday, May 8th. They issued a “buy” rating on the stock. Finally, StockNews.com initiated coverage on Extra Space Storage in a report on Thursday. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $170.56.

Insider Activity

In related news, CEO Joseph D. Margolis sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 4th. The shares were sold at an average price of $160.07, for a total transaction of $800,350.00. Following the completion of the sale, the chief executive officer now directly owns 15,144 shares in the company, valued at $2,424,100.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Joseph D. Margolis sold 5,000 shares of the business’s stock in a transaction on Tuesday, April 4th. The shares were sold at an average price of $160.07, for a total transaction of $800,350.00. Following the transaction, the chief executive officer now directly owns 15,144 shares in the company, valued at approximately $2,424,100.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CMO Samrat Sondhi sold 6,290 shares of Extra Space Storage stock in a transaction on Monday, February 27th. The shares were sold at an average price of $161.88, for a total value of $1,018,225.20. Following the sale, the chief marketing officer now directly owns 82,653 shares of the company’s stock, valued at approximately $13,379,867.64. The disclosure for this sale can be found here. Insiders have sold 13,440 shares of company stock worth $2,172,313 in the last 90 days. Company insiders own 1.55% of the company’s stock.

Extra Space Storage Trading Down 0.0 %

Shares of NYSE:EXR opened at $149.18 on Friday. Extra Space Storage Inc. has a twelve month low of $139.97 and a twelve month high of $216.52. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 1.82. The firm has a market cap of $20.15 billion, a P/E ratio of 23.46, a P/E/G ratio of 5.11 and a beta of 0.54. The company has a 50 day moving average of $155.20 and a 200-day moving average of $155.84.

Extra Space Storage (NYSE:EXR – Get Rating) last issued its quarterly earnings results on Wednesday, February 22nd. The real estate investment trust reported $1.52 EPS for the quarter, missing the consensus estimate of $2.08 by ($0.56). The firm had revenue of $506.70 million during the quarter, compared to analysts’ expectations of $433.39 million. Extra Space Storage had a net margin of 43.79% and a return on equity of 21.62%. The firm’s revenue was up 18.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.91 EPS. As a group, analysts anticipate that Extra Space Storage Inc. will post 8.51 earnings per share for the current fiscal year.

About Extra Space Storage

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Extra Space Storage, Inc is a real estate investment trust. It operates through the following segments: Self-Storage Operations and Tenant Reinsurance. The Self-Storage Operations segment includes rental operations of wholly-owned stores. The Tenant Reinsurance segment includes reinsurance of risks relating to the loss of goods stored by tenants in stores.