Geneos Wealth Management Inc. Cuts Holdings in Extra Space Storage Inc. (NYSE:EXR)

Geneos Wealth Management Inc. lessened its stake in Extra Space Storage Inc. (NYSE:EXR) by 4.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,300 shares of the real estate investment trust’s stock after selling 113 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Extra Space Storage were worth $369,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in EXR. Sequoia Financial Advisors LLC purchased a new stake in shares of Extra Space Storage during the 4th quarter worth $496,000. International Assets Investment Management LLC purchased a new stake in Extra Space Storage during the 4th quarter worth about $24,857,000. Vaughan Nelson Investment Management L.P. boosted its position in shares of Extra Space Storage by 80,945.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 506,533 shares of the real estate investment trust’s stock worth $81,213,000 after acquiring an additional 505,908 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Extra Space Storage by 5.8% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 119,326 shares of the real estate investment trust’s stock valued at $19,180,000 after acquiring an additional 6,582 shares during the last quarter. Finally, Arkadios Wealth Advisors raised its position in shares of Extra Space Storage by 41.2% during the 4th quarter. Arkadios Wealth Advisors now owns 6,622 shares of the real estate investment trust’s stock worth $1,062,000 after acquiring an additional 1,931 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $145.00, for a total transaction of $195,750.00. Following the transaction, the executive vice president now owns 37,028 shares in the company, valued at approximately $5,369,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $146.46, for a total value of $299,950.08. Following the completion of the transaction, the chief marketing officer now owns 94,126 shares in the company, 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. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the sale, the executive vice president now owns 37,028 shares of the company’s stock, valued at approximately $5,369,060. The disclosure for this sale can be found here. Insiders sold a total of 3,532 shares of company stock worth $514,819 over the last 90 days. Company insiders own 1.55% of the company’s stock.

Extra Space Storage Stock Down 1.8 %

Extra Space Storage stock opened at $140.69 on Friday. The stock has a market capitalization of $29.77 billion, a price-to-earnings ratio of 28.48, a PEG ratio of 3.52 and a beta of 0.74. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.71. The stock has a 50 day moving average of $143.28 and a two-hundred day moving average of $137.12. Extra Space Storage Inc. has a twelve month low of $101.19 and a twelve month high of $164.99.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.01). The firm had revenue of $797.77 million during the quarter, compared to analysts’ expectations of $778.05 million. Extra Space Storage had a net margin of 31.81% and a return on equity of 8.34%. The business’s quarterly revenue was up 57.4% on a year-over-year basis. During the same quarter last year, the business earned $2.09 earnings per share. As a group, research analysts expect that Extra Space Storage Inc. will post 8.05 earnings per share for the current year.

Extra Space Storage Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have commented on EXR shares. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Saturday, March 2nd. Raymond James reiterated an “outperform” rating and set a $160.00 price target on shares of Extra Space Storage in a research note on Thursday, March 28th. Scotiabank began coverage on shares of Extra Space Storage in a research report on Tuesday, February 13th. They issued a “sector underperform” rating and a $131.00 price target for the company. Morgan Stanley upgraded Extra Space Storage from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $115.00 to $150.00 in a research report on Thursday, December 21st. Finally, Wells Fargo & Company upped their target price 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. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price 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.