Extra Space Storage Inc $EXR Shares Sold by Adams Wealth Management

Adams Wealth Management lowered its stake in Extra Space Storage Inc (NYSE:EXR) by 66.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,924 shares of the real estate investment trust’s stock after selling 3,832 shares during the period. Adams Wealth Management’s holdings in Extra Space Storage were worth $284,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of EXR. FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its stake in Extra Space Storage by 4.6% during the second quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,825 shares of the real estate investment trust’s stock valued at $269,000 after buying an additional 80 shares in the last quarter. Brown Advisory Inc. increased its holdings in shares of Extra Space Storage by 1.8% in the 2nd quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust’s stock valued at $653,000 after acquiring an additional 80 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Extra Space Storage by 6.5% during the second quarter. Farther Finance Advisors LLC now owns 1,559 shares of the real estate investment trust’s stock worth $230,000 after purchasing an additional 95 shares during the last quarter. Moody Lynn & Lieberson LLC boosted its holdings in Extra Space Storage by 0.4% in the second quarter. Moody Lynn & Lieberson LLC now owns 28,289 shares of the real estate investment trust’s stock worth $4,171,000 after purchasing an additional 119 shares during the period. Finally, Global X Japan Co. Ltd. boosted its holdings in Extra Space Storage by 21.9% in the second quarter. Global X Japan Co. Ltd. now owns 680 shares of the real estate investment trust’s stock worth $100,000 after purchasing an additional 122 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Scotiabank dropped their target price on shares of Extra Space Storage from $166.00 to $162.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 28th. Royal Bank Of Canada cut their target price on shares of Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating on the stock in a report on Friday, November 7th. Wells Fargo & Company upgraded Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 target price for the company in a research note on Tuesday, August 26th. Morgan Stanley lowered their target price on Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating for the company in a report on Friday, December 5th. Finally, Citigroup cut their price target on Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Friday, August 22nd. Six investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $147.53.

Extra Space Storage Price Performance

NYSE EXR opened at $134.54 on Monday. The company has a 50-day moving average price of $137.30 and a two-hundred day moving average price of $142.29. Extra Space Storage Inc has a 52 week low of $121.03 and a 52 week high of $162.77. The stock has a market cap of $28.56 billion, a price-to-earnings ratio of 30.03, a price-to-earnings-growth ratio of 2.56 and a beta of 1.26. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.89.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.02. Extra Space Storage had a return on equity of 6.56% and a net margin of 28.40%.The business had revenue of $858.46 million during the quarter, compared to the consensus estimate of $736.26 million. During the same period in the previous year, the firm posted $2.07 earnings per share. The business’s revenue was up 4.1% on a year-over-year basis. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. Analysts forecast that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.8%. Extra Space Storage’s dividend payout ratio is presently 144.64%.

Insider Activity at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $141.41, for a total transaction of $1,060,575.00. Following the transaction, the chief executive officer directly owned 19,760 shares of the company’s stock, valued at approximately $2,794,261.60. This trade represents a 27.51% 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. Company insiders own 1.36% 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.