Atria Wealth Solutions Inc. Lowers Stock Position in Extra Space Storage Inc (NYSE:EXR)

Atria Wealth Solutions Inc. lessened its holdings in Extra Space Storage Inc (NYSE:EXR) by 53.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,250 shares of the real estate investment trust’s stock after selling 7,082 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Extra Space Storage were worth $928,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in EXR. Federated Hermes Inc. boosted its holdings in Extra Space Storage by 206.9% in the 4th quarter. Federated Hermes Inc. now owns 1,105 shares of the real estate investment trust’s stock valued at $165,000 after purchasing an additional 745 shares in the last quarter. Cerity Partners LLC lifted its position in shares of Extra Space Storage by 8.1% during the 4th quarter. Cerity Partners LLC now owns 15,589 shares of the real estate investment trust’s stock valued at $2,563,000 after acquiring an additional 1,163 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Extra Space Storage during the 4th quarter valued at approximately $46,120,000. Townsquare Capital LLC lifted its position in shares of Extra Space Storage by 20.5% during the 4th quarter. Townsquare Capital LLC now owns 9,960 shares of the real estate investment trust’s stock valued at $1,490,000 after acquiring an additional 1,693 shares during the period. Finally, Sagespring Wealth Partners LLC acquired a new stake in shares of Extra Space Storage during the 4th quarter valued at approximately $254,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Transactions at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Tuesday, July 1st. The stock was 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 directly owned 27,260 shares in the company, valued at approximately $4,098,541. This represents a 21.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.36% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on EXR. Scotiabank lifted their price target on shares of 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. Wall Street Zen raised Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Wednesday, April 30th. Wells Fargo & Company dropped their price target on Extra Space Storage from $165.00 to $160.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 23rd. Royal Bank Of Canada dropped their price target on Extra Space Storage from $160.00 to $148.00 and set a “sector perform” rating for the company in a research report on Monday, August 4th. Finally, Mizuho raised their price target on Extra Space Storage from $141.00 to $153.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 28th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $155.85.

Extra Space Storage Stock Down 0.9%

Shares of NYSE EXR opened at $135.17 on Tuesday. Extra Space Storage Inc has a 12-month low of $121.03 and a 12-month high of $184.87. The company has a market cap of $28.69 billion, a P/E ratio of 29.32, a P/E/G ratio of 3.31 and a beta of 1.07. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.88. The stock has a fifty day moving average price of $147.34 and a 200 day moving average price of $147.72.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.01). Extra Space Storage had a net margin of 29.51% and a return on equity of 6.69%. The company had revenue of $841.62 million during the quarter, compared to analyst estimates of $719.43 million. During the same quarter in the prior year, the company posted $2.06 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Research analysts anticipate that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.8%. The ex-dividend date was Monday, June 16th. Extra Space Storage’s dividend payout ratio is currently 140.56%.

About Extra Space Storage

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.