IFP Advisors Inc Has $252,000 Stock Position in Extra Space Storage Inc (NYSE:EXR)

IFP Advisors Inc lifted its stake in Extra Space Storage Inc (NYSE:EXR) by 1,376.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,698 shares of the real estate investment trust’s stock after buying an additional 1,583 shares during the period. IFP Advisors Inc’s holdings in Extra Space Storage were worth $252,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. D.A. Davidson & CO. grew its stake in Extra Space Storage by 7.2% during the first quarter. D.A. Davidson & CO. now owns 1,895 shares of the real estate investment trust’s stock worth $281,000 after buying an additional 127 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Extra Space Storage by 1.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,222 shares of the real estate investment trust’s stock valued at $3,285,000 after purchasing an additional 398 shares in the last quarter. QRG Capital Management Inc. raised its position in Extra Space Storage by 21.4% in the 1st quarter. QRG Capital Management Inc. now owns 2,684 shares of the real estate investment trust’s stock valued at $399,000 after purchasing an additional 474 shares during the last quarter. Farther Finance Advisors LLC raised its position in Extra Space Storage by 24.3% in the 1st quarter. Farther Finance Advisors LLC now owns 1,464 shares of the real estate investment trust’s stock valued at $216,000 after purchasing an additional 286 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Extra Space Storage by 44.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 22,593 shares of the real estate investment trust’s stock worth $3,355,000 after purchasing an additional 6,964 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on EXR. Royal Bank Of Canada lowered their target price on Extra Space Storage from $163.00 to $160.00 and set a “sector perform” rating for the company in a research note on Thursday, May 1st. Wall Street Zen upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Wednesday, April 30th. Wells Fargo & Company dropped their target price on shares of Extra Space Storage from $165.00 to $160.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 23rd. BNP Paribas raised shares of Extra Space Storage to a “hold” rating in a research note on Tuesday, June 24th. Finally, BNP Paribas Exane initiated coverage on shares of Extra Space Storage in a report on Tuesday, June 24th. They issued a “neutral” rating and a $156.00 price target for the company. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Extra Space Storage presently has an average rating of “Hold” and an average target price of $157.69.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $150.35, for a total value of $1,127,625.00. Following the completion of the sale, the chief executive officer owned 27,260 shares of the company’s stock, valued at approximately $4,098,541. This represents a 21.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.36% of the stock is owned by insiders.

Extra Space Storage Stock Performance

EXR stock opened at $150.83 on Monday. Extra Space Storage Inc has a twelve month low of $121.03 and a twelve month high of $184.87. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.85. The company has a market cap of $32.01 billion, a P/E ratio of 35.00, a price-to-earnings-growth ratio of 3.66 and a beta of 1.10. The business’s fifty day moving average is $149.12 and its 200-day moving average is $148.44.

Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $820.00 million for the quarter, compared to analyst estimates of $705.12 million. During the same quarter in the prior year, the firm posted $1.96 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. Equities research analysts forecast that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend was Monday, June 16th. Extra Space Storage’s payout ratio is 150.35%.

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.