Cerity Partners LLC Purchases 2,110 Shares of Extra Space Storage Inc. (NYSE:EXR)

Cerity Partners LLC lifted its position in Extra Space Storage Inc. (NYSE:EXR) by 47.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,564 shares of the real estate investment trust’s stock after buying an additional 2,110 shares during the period. Cerity Partners LLC’s holdings in Extra Space Storage were worth $1,052,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Whittier Trust Co. raised its holdings in shares of Extra Space Storage by 4.5% during the fourth quarter. Whittier Trust Co. now owns 1,656 shares of the real estate investment trust’s stock valued at $266,000 after purchasing an additional 72 shares during the last quarter. Private Advisor Group LLC increased its holdings in Extra Space Storage by 5.6% during the first quarter. Private Advisor Group LLC now owns 1,404 shares of the real estate investment trust’s stock valued at $289,000 after buying an additional 74 shares during the last quarter. Thomas White International Ltd. increased its holdings in Extra Space Storage by 5.9% during the fourth quarter. Thomas White International Ltd. now owns 1,483 shares of the real estate investment trust’s stock valued at $218,000 after buying an additional 83 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in Extra Space Storage by 35.2% during the first quarter. Geneos Wealth Management Inc. now owns 384 shares of the real estate investment trust’s stock valued at $78,000 after buying an additional 100 shares during the last quarter. Finally, Horizon Investments LLC increased its holdings in Extra Space Storage by 3.3% during the first quarter. Horizon Investments LLC now owns 3,578 shares of the real estate investment trust’s stock valued at $736,000 after buying an additional 114 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Insider Buying and Selling

In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the company’s 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 completion of the transaction, the executive vice president now owns 37,028 shares in the company, valued at $5,369,060. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 completion of the transaction, the executive vice president now owns 37,028 shares in the company, valued at $5,369,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Samrat Sondhi sold 2,048 shares of the 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 approximately $13,785,693.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,532 shares of company stock worth $514,819. 1.36% of the stock is owned by insiders.

Extra Space Storage Price Performance

Shares of NYSE:EXR opened at $132.46 on Monday. 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 fifty day moving average price of $142.57 and a 200 day moving average price of $137.82. Extra Space Storage Inc. has a fifty-two week low of $101.19 and a fifty-two week high of $164.99. The firm has a market cap of $28.03 billion, a price-to-earnings ratio of 26.81, a P/E/G ratio of 3.25 and a beta of 0.74.

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 for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $778.05 million. During the same quarter in the prior year, the company posted $2.09 EPS. Extra Space Storage’s revenue was up 57.4% compared to the same quarter last year. As a group, sell-side analysts expect that Extra Space Storage Inc. will post 8.05 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $1.62 per share. The ex-dividend date was Thursday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.89%. Extra Space Storage’s dividend payout ratio is 131.17%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Extra Space Storage in a report on Tuesday, January 30th. They set a “hold” rating and a $141.00 target price for the company. Raymond James reaffirmed an “outperform” rating and set a $160.00 target price on shares of Extra Space Storage in a report on Thursday, March 28th. Truist Financial upped their target price on shares of Extra Space Storage from $138.00 to $152.00 and gave the company a “hold” rating in a report on Thursday, December 28th. TheStreet raised shares of Extra Space Storage from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Finally, Wells Fargo & Company increased their price objective on shares of Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $150.17.

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.