GC Wealth Management RIA LLC Raises Stock Position in Extra Space Storage Inc. (NYSE:EXR)

GC Wealth Management RIA LLC grew its holdings in Extra Space Storage Inc. (NYSE:EXR) by 24.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,163 shares of the real estate investment trust’s stock after acquiring an additional 629 shares during the period. GC Wealth Management RIA LLC’s holdings in Extra Space Storage were worth $473,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in EXR. Concurrent Investment Advisors LLC purchased a new position in shares of Extra Space Storage in the 3rd quarter worth $221,000. Assetmark Inc. lifted its holdings in shares of Extra Space Storage by 4.5% in the 3rd quarter. Assetmark Inc. now owns 6,413 shares of the real estate investment trust’s stock worth $1,156,000 after acquiring an additional 277 shares during the last quarter. Axxcess Wealth Management LLC lifted its holdings in shares of Extra Space Storage by 18.9% in the 3rd quarter. Axxcess Wealth Management LLC now owns 1,538 shares of the real estate investment trust’s stock worth $277,000 after acquiring an additional 244 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Extra Space Storage in the 3rd quarter worth about $33,000. Finally, Catalytic Wealth RIA LLC lifted its holdings in shares of Extra Space Storage by 18.5% in the 3rd quarter. Catalytic Wealth RIA LLC now owns 2,534 shares of the real estate investment trust’s stock worth $457,000 after acquiring an additional 395 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Extra Space Storage Trading Down 2.4 %

NYSE EXR opened at $152.00 on Wednesday. The company’s 50-day simple moving average is $153.13 and its two-hundred day simple moving average is $162.65. Extra Space Storage Inc. has a one year low of $131.02 and a one year high of $184.87. The company has a market capitalization of $32.22 billion, a price-to-earnings ratio of 39.79, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.93. The company had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. Equities analysts forecast that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date is Friday, March 14th. Extra Space Storage’s payout ratio is currently 160.40%.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, EVP William N. Springer sold 1,220 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $152.66, for a total value of $186,245.20. Following the completion of the sale, the executive vice president now directly owns 20,158 shares in the company, valued at $3,077,320.28. This trade represents a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the completion of the transaction, the chief executive officer now directly owns 16,690 shares in the company, valued at $2,470,286.90. This represents a 31.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on EXR. Wells Fargo & Company lowered their target price on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a report on Friday, February 21st. Barclays lowered their target price on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Royal Bank of Canada lowered their target price on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group restated a “buy” rating on shares of Extra Space Storage in a report on Thursday, March 6th. Finally, StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $171.36.

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.