Capital Analysts LLC Sells 3,119 Shares of Extra Space Storage Inc. (NYSE:EXR)

Capital Analysts LLC lessened its stake in Extra Space Storage Inc. (NYSE:EXR) by 89.4% during the fourth quarter, HoldingsChannel reports. The firm owned 369 shares of the real estate investment trust’s stock after selling 3,119 shares during the period. Capital Analysts LLC’s holdings in Extra Space Storage were worth $59,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of EXR. Vanguard Group Inc. raised its holdings in shares of Extra Space Storage by 55.7% in the 3rd quarter. Vanguard Group Inc. now owns 33,686,341 shares of the real estate investment trust’s stock worth $4,095,585,000 after purchasing an additional 12,055,172 shares during the period. JPMorgan Chase & Co. grew its stake in Extra Space Storage by 599.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,345,787 shares of the real estate investment trust’s stock valued at $406,781,000 after buying an additional 2,867,657 shares in the last quarter. Norges Bank purchased a new position in Extra Space Storage in the 4th quarter valued at approximately $380,823,000. Diamond Hill Capital Management Inc. purchased a new position in Extra Space Storage in the 3rd quarter valued at approximately $173,621,000. Finally, First Eagle Investment Management LLC grew its stake in Extra Space Storage by 233,362.8% in the 3rd quarter. First Eagle Investment Management LLC now owns 1,323,734 shares of the real estate investment trust’s stock valued at $160,940,000 after buying an additional 1,323,167 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Down 1.3 %

Shares of NYSE:EXR opened at $132.52 on Friday. Extra Space Storage Inc. has a 52-week low of $101.19 and a 52-week high of $164.99. The firm has a fifty day moving average of $142.57 and a 200 day moving average of $137.52. The firm has a market capitalization of $28.04 billion, a PE ratio of 26.83, a price-to-earnings-growth ratio of 3.34 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.

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

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend was Thursday, March 14th. Extra Space Storage’s dividend payout ratio is presently 131.17%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on EXR shares. Wells Fargo & Company lifted their price objective on shares of Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Barclays started coverage on shares of Extra Space Storage in a research note on Wednesday, March 27th. They issued an “overweight” rating and a $157.00 price objective for the company. Scotiabank started coverage on shares of Extra Space Storage in a research report on Tuesday, February 13th. They set a “sector underperform” rating and a $131.00 price target for the company. The Goldman Sachs Group boosted their price target on shares of Extra Space Storage from $168.00 to $187.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Extra Space Storage in a research report on Tuesday, January 30th. They set a “hold” rating and a $141.00 price target for the company. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $150.17.

Insiders Place Their Bets

In other Extra Space Storage news, 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 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 $13,785,693.96. The transaction 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 business’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 sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Samrat Sondhi sold 2,048 shares of the company’s stock in a transaction dated 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 directly owns 94,126 shares of the company’s stock, valued at $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 over the last three months. Insiders own 1.36% of the company’s stock.

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.