Silvercrest Asset Management Group LLC Decreases Position in Extra Space Storage Inc. (NYSE:EXR)

Silvercrest Asset Management Group LLC reduced its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 0.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 189,312 shares of the real estate investment trust’s stock after selling 829 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Extra Space Storage were worth $27,829,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EdgeRock Capital LLC purchased a new position in shares of Extra Space Storage in the fourth quarter valued at $26,000. Creekmur Asset Management LLC acquired a new position in Extra Space Storage in the 4th quarter worth $26,000. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Extra Space Storage by 200.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 300 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 200 shares in the last quarter. Cornerstone Advisors LLC acquired a new stake in shares of Extra Space Storage in the first quarter valued at approximately $74,000. Finally, Parkside Financial Bank & Trust boosted its position in shares of Extra Space Storage by 30.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 515 shares of the real estate investment trust’s stock worth $83,000 after buying an additional 119 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $152.58, for a total value of $1,144,350.00. Following the completion of the sale, the chief executive officer now owns 31,690 shares in the company, valued at approximately $4,835,260.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Extra Space Storage news, Director Joseph J. Bonner sold 677 shares of Extra Space Storage stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $148.22, for a total value of $100,344.94. Following the completion of the sale, the director now directly owns 5,229 shares in the company, valued at $775,042.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the transaction, the chief executive officer now owns 31,690 shares in the company, valued at approximately $4,835,260.20. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on EXR shares. Raymond James raised their price target on Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Barclays upped their price objective on Extra Space Storage from $157.00 to $158.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Wells Fargo & Company boosted their price target on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday. Evercore ISI boosted their target price on shares of Extra Space Storage from $140.00 to $151.00 and gave the stock an “in-line” rating in a report on Monday, July 15th. Finally, Scotiabank raised their target price on shares of Extra Space Storage from $140.00 to $159.00 and gave the stock a “sector underperform” rating in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Extra Space Storage presently has a consensus rating of “Hold” and a consensus target price of $157.67.

Extra Space Storage Stock Down 0.6 %

Extra Space Storage stock traded down $1.01 during mid-day trading on Tuesday, hitting $162.98. The company’s stock had a trading volume of 463,448 shares, compared to its average volume of 1,069,646. Extra Space Storage Inc. has a 52-week low of $101.19 and a 52-week high of $171.46. The company has a market cap of $34.51 billion, a PE ratio of 36.52, a price-to-earnings-growth ratio of 3.47 and a beta of 0.83. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.15 and a quick ratio of 0.15. The firm’s 50 day moving average is $154.65 and its 200 day moving average is $147.31.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.98%. The ex-dividend date was Friday, June 14th. Extra Space Storage’s dividend payout ratio is currently 144.32%.

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.