Paladin Wealth LLC Raises Stake in Extra Space Storage Inc. (NYSE:EXR)

Paladin Wealth LLC boosted its holdings in Extra Space Storage Inc. (NYSE:EXR) by 11.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,690 shares of the real estate investment trust’s stock after purchasing an additional 500 shares during the quarter. Paladin Wealth LLC’s holdings in Extra Space Storage were worth $702,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Golden State Wealth Management LLC purchased a new stake in Extra Space Storage in the 4th quarter valued at approximately $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Extra Space Storage in the third quarter valued at $33,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Extra Space Storage during the 3rd quarter worth about $42,000. Continuum Advisory LLC boosted its position in Extra Space Storage by 68.1% during the third quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 126 shares during the last quarter. Finally, DiNuzzo Private Wealth Inc. purchased a new stake in shares of Extra Space Storage in the third quarter valued at $129,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Extra Space Storage Stock Up 0.3 %

Shares of EXR opened at $156.52 on Tuesday. The business’s 50 day simple moving average is $153.06 and its 200-day simple moving average is $164.20. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The company has a market capitalization of $33.18 billion, a P/E ratio of 40.97, a PEG ratio of 7.77 and a beta of 0.91. Extra Space Storage Inc. has a one year low of $131.02 and a one year high of $184.87.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a yield of 4.14%. Extra Space Storage’s payout ratio is presently 169.63%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EXR. Truist Financial boosted their price objective on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. Wells Fargo & Company restated an “equal weight” rating and issued a $175.00 price target on shares of Extra Space Storage in a research note on Monday, October 21st. Evercore ISI decreased their target price on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a research report on Monday, October 14th. Finally, Scotiabank raised shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 target price on the stock in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $174.00.

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the sale, the chief executive officer now owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Diane Olmstead sold 3,081 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $164.56, for a total transaction of $507,009.36. Following the sale, the director now directly owns 5,877 shares in the company, valued at $967,119.12. This trade represents a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by company insiders.

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.