D.A. Davidson & CO. Raises Stake in Extra Space Storage Inc (NYSE:EXR)

D.A. Davidson & CO. increased its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 7.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,895 shares of the real estate investment trust’s stock after purchasing an additional 127 shares during the period. D.A. Davidson & CO.’s holdings in Extra Space Storage were worth $281,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in EXR. Jones Financial Companies Lllp lifted its holdings in Extra Space Storage by 20.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,109 shares of the real estate investment trust’s stock worth $166,000 after purchasing an additional 185 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Extra Space Storage during the 4th quarter worth about $25,090,000. Independent Advisor Alliance increased its stake in Extra Space Storage by 37.2% in the 4th quarter. Independent Advisor Alliance now owns 2,104 shares of the real estate investment trust’s stock worth $315,000 after acquiring an additional 571 shares during the last quarter. AGF Management Ltd. boosted its position in shares of Extra Space Storage by 22.4% during the 4th quarter. AGF Management Ltd. now owns 3,760 shares of the real estate investment trust’s stock valued at $562,000 after acquiring an additional 688 shares during the last quarter. Finally, HighTower Advisors LLC boosted its position in shares of Extra Space Storage by 2.5% during the 4th quarter. HighTower Advisors LLC now owns 45,550 shares of the real estate investment trust’s stock valued at $6,814,000 after acquiring an additional 1,130 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EXR. 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 research report on Monday, May 12th. Mizuho lifted their price target on Extra Space Storage from $141.00 to $153.00 and gave the company an “outperform” rating in a research report on Wednesday, May 28th. 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 research report on Tuesday, May 13th. BNP Paribas Exane began coverage on Extra Space Storage in a research report on Tuesday, June 24th. They set a “neutral” rating and a $156.00 price target for the company. Finally, Barclays dropped their price target on Extra Space Storage from $181.00 to $178.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $159.29.

Extra Space Storage Trading Up 0.8%

Shares of NYSE:EXR opened at $150.00 on Friday. The company has a market cap of $31.83 billion, a P/E ratio of 34.80, a PEG ratio of 3.61 and a beta of 1.10. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.33 and a quick ratio of 0.33. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $184.87. The stock’s fifty day moving average price is $148.87 and its 200-day moving average price is $148.39.

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

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.32%. The ex-dividend date was Monday, June 16th. Extra Space Storage’s payout ratio is 150.35%.

Insider Activity

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total transaction of $1,127,625.00. Following the completion of the sale, the chief executive officer directly owned 27,260 shares of the company’s stock, valued at $4,098,541. The trade was a 21.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.96% of the company’s stock.

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.