Allworth Financial LP Sells 419 Shares of Extra Space Storage Inc. (NYSE:EXR)

Allworth Financial LP lessened its stake in Extra Space Storage Inc. (NYSE:EXR) by 24.1% during the fourth quarter, Holdings Channel reports. The firm owned 1,320 shares of the real estate investment trust’s stock after selling 419 shares during the period. Allworth Financial LP’s holdings in Extra Space Storage were worth $212,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. First Horizon Advisors Inc. lifted its stake in Extra Space Storage by 1,272.7% during the 1st quarter. First Horizon Advisors Inc. now owns 151 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 140 shares in the last quarter. Zions Bancorporation N.A. raised its holdings in shares of Extra Space Storage by 241.9% in the third quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 150 shares during the last quarter. Money Concepts Capital Corp bought a new position in shares of Extra Space Storage during the fourth quarter valued at about $27,000. EverSource Wealth Advisors LLC lifted its position in shares of Extra Space Storage by 162.5% during the third quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 143 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in Extra Space Storage during the third quarter worth about $32,000. Institutional investors own 99.11% of the company’s stock.

Insider Activity

In related news, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $146.46, for a total transaction of $299,950.08. Following the sale, the chief marketing officer now owns 94,126 shares of the company’s stock, valued at approximately $13,785,693.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total value of $195,750.00. Following the completion of the transaction, the executive vice president now directly owns 37,028 shares of the company’s stock, valued at approximately $5,369,060. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CMO Samrat Sondhi sold 2,048 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $146.46, for a total transaction of $299,950.08. Following the transaction, the chief marketing officer now owns 94,126 shares of the company’s stock, valued at $13,785,693.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,532 shares of company stock worth $514,819. 1.55% of the stock is owned by corporate insiders.

Extra Space Storage Price Performance

Shares of NYSE:EXR opened at $143.20 on Friday. The firm has a market capitalization of $30.30 billion, a PE ratio of 28.99, a P/E/G ratio of 3.66 and a beta of 0.74. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average price of $143.34 and a two-hundred day moving average price of $136.88. Extra Space Storage Inc. has a twelve month low of $101.19 and a twelve month high of $165.85.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.01). Extra Space Storage had a net margin of 31.81% and a return on equity of 8.34%. The business had revenue of $797.77 million for the quarter, compared to analysts’ expectations of $778.05 million. During the same quarter in the previous year, the company posted $2.09 earnings per share. The business’s quarterly revenue was up 57.4% compared to the same quarter last year. Equities analysts forecast that Extra Space Storage Inc. will post 8.05 EPS for the current year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.53%. The ex-dividend date of this dividend was Thursday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is presently 131.17%.

Wall Street Analyst Weigh In

Several research firms have commented on EXR. Raymond James reissued an “outperform” rating and set a $160.00 target price on shares of Extra Space Storage in a research report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft assumed coverage on Extra Space Storage in a report on Tuesday, January 30th. They set a “hold” rating and a $141.00 price target on the stock. TheStreet upgraded Extra Space Storage from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Truist Financial lifted their target price on Extra Space Storage from $138.00 to $152.00 and gave the stock a “hold” rating in a research note on Thursday, December 28th. Finally, StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $150.17.

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.