Extra Space Storage Inc. (NYSE:EXR) Stock Position Cut by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. decreased its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 7.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,484 shares of the real estate investment trust’s stock after selling 186 shares during the period. Stratos Wealth Partners LTD.’s holdings in Extra Space Storage were worth $398,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. NewEdge Wealth LLC bought a new stake in Extra Space Storage during the third quarter worth approximately $341,000. Vanguard Personalized Indexing Management LLC raised its stake in shares of Extra Space Storage by 110.8% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,914 shares of the real estate investment trust’s stock worth $1,448,000 after buying an additional 6,262 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Extra Space Storage by 55.7% in the third quarter. Vanguard Group Inc. now owns 33,686,341 shares of the real estate investment trust’s stock valued at $4,095,585,000 after buying an additional 12,055,172 shares during the period. Pallas Capital Advisors LLC bought a new position in Extra Space Storage during the fourth quarter valued at about $1,287,000. Finally, Vert Asset Management LLC grew its holdings in Extra Space Storage by 15.7% during the fourth quarter. Vert Asset Management LLC now owns 85,522 shares of the real estate investment trust’s stock worth $13,712,000 after acquiring an additional 11,612 shares during the period. 99.11% of the stock is currently owned by institutional investors.

Insider Transactions at Extra Space Storage

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on EXR shares. StockNews.com downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, March 2nd. Deutsche Bank Aktiengesellschaft began coverage on Extra Space Storage in a research note on Tuesday, January 30th. They set a “hold” rating and a $141.00 price objective for the company. Scotiabank initiated coverage on Extra Space Storage in a research report on Tuesday, February 13th. They set a “sector underperform” rating and a $131.00 target price on the stock. Wells Fargo & Company increased their price target on Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Finally, Truist Financial boosted their price objective on Extra Space Storage from $138.00 to $152.00 and gave the stock a “hold” rating in a report on Thursday, December 28th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Extra Space Storage currently has an average rating of “Hold” and a consensus target price of $150.17.

Extra Space Storage Stock Performance

EXR stock opened at $140.69 on Friday. The stock has a market cap of $29.77 billion, a P/E ratio of 28.48, a P/E/G ratio of 3.52 and a beta of 0.74. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a 50 day simple moving average of $143.28 and a 200 day simple moving average of $137.12. Extra Space Storage Inc. has a 52 week low of $101.19 and a 52 week high of $164.99.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share (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 company had revenue of $797.77 million for the quarter, compared to analyst estimates of $778.05 million. During the same period last year, the business earned $2.09 EPS. The company’s quarterly revenue was up 57.4% on a year-over-year basis. Research analysts anticipate that Extra Space Storage Inc. will post 8.05 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.61%. The ex-dividend date was Thursday, March 14th. Extra Space Storage’s payout ratio is currently 131.17%.

Extra Space Storage 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.