Extra Space Storage Inc (NYSE:EXR) Position Boosted by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its holdings in Extra Space Storage Inc (NYSE:EXR) by 44.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,593 shares of the real estate investment trust’s stock after acquiring an additional 6,964 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Extra Space Storage were worth $3,355,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EXR. D.A. Davidson & CO. boosted its stake in Extra Space Storage by 23.8% in the fourth quarter. D.A. Davidson & CO. now owns 1,768 shares of the real estate investment trust’s stock valued at $264,000 after acquiring an additional 340 shares during the period. Illinois Municipal Retirement Fund acquired a new position in Extra Space Storage in the fourth quarter valued at approximately $652,000. Lake Street Advisors Group LLC boosted its stake in Extra Space Storage by 159.1% in the fourth quarter. Lake Street Advisors Group LLC now owns 10,768 shares of the real estate investment trust’s stock valued at $1,611,000 after acquiring an additional 6,612 shares during the period. Checchi Capital Advisers LLC boosted its stake in Extra Space Storage by 2.2% in the fourth quarter. Checchi Capital Advisers LLC now owns 3,449 shares of the real estate investment trust’s stock valued at $516,000 after acquiring an additional 75 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its stake in Extra Space Storage by 0.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,160 shares of the real estate investment trust’s stock valued at $2,717,000 after acquiring an additional 66 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Stock Up 0.4%

Shares of EXR stock opened at $146.05 on Friday. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $184.87. The stock has a market cap of $30.99 billion, a PE ratio of 33.89, a price-to-earnings-growth ratio of 3.53 and a beta of 1.11. The business’s fifty day moving average is $147.40 and its 200-day moving average is $148.63. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.33 and a current ratio of 0.33.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.04. Extra Space Storage had a return on equity of 6.11% and a net margin of 27.84%. The business had revenue of $820.00 million for the quarter, compared to analysts’ expectations of $705.12 million. During the same period in the previous year, the firm posted $1.96 EPS. The company’s quarterly revenue was up 2.6% on a year-over-year basis. Equities analysts expect that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend is Monday, June 16th. Extra Space Storage’s payout ratio is 150.35%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on EXR shares. Mizuho lifted their target price on Extra Space Storage from $141.00 to $153.00 and gave the company an “outperform” rating in a research note on Wednesday, May 28th. BNP Paribas upgraded Extra Space Storage to a “hold” rating in a research note on Tuesday. Bank of America lifted their price target on Extra Space Storage from $155.00 to $161.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. Scotiabank lifted their price target on Extra Space Storage from $149.00 to $166.00 and gave the company a “sector outperform” rating in a report on Monday, May 12th. Finally, Wall Street Zen raised Extra Space Storage from a “sell” rating to a “hold” rating in a report on Wednesday, April 30th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Extra Space Storage currently has a consensus rating of “Hold” and a consensus target price of $159.29.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total value of $1,105,875.00. Following the completion of the transaction, the chief executive officer now directly owns 9,190 shares in the company, valued at $1,355,065.50. This trade represents a 44.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.96% 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.