BCO Wealth Management LLC Invests $512,000 in Extra Space Storage Inc. (NYSE:EXR)

BCO Wealth Management LLC purchased a new stake in Extra Space Storage Inc. (NYSE:EXR) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 3,424 shares of the real estate investment trust’s stock, valued at approximately $512,000. Extra Space Storage makes up about 0.4% of BCO Wealth Management LLC’s investment portfolio, making the stock its 19th biggest holding.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC acquired a new position in Extra Space Storage during the fourth quarter worth about $25,000. Harbour Investments Inc. raised its position in shares of Extra Space Storage by 90.9% during the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 80 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Extra Space Storage in the 3rd quarter valued at approximately $42,000. Quent Capital LLC lifted its stake in Extra Space Storage by 89.0% in the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 154 shares in the last quarter. Finally, Asset Planning Inc acquired a new stake in Extra Space Storage during the 4th quarter valued at $52,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on EXR shares. Wells Fargo & Company reduced their price objective on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday, March 7th. Barclays lowered their price target on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. The Goldman Sachs Group reissued a “buy” rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Finally, 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 research note on Thursday, February 27th. 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 stock. According to MarketBeat.com, Extra Space Storage has a consensus rating of “Hold” and an average price target of $171.09.

Insiders Place Their Bets

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the transaction, the chief executive officer now owns 16,690 shares in the company, valued at approximately $2,470,286.90. The trade was a 31.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP William N. Springer sold 1,220 shares of the stock in a transaction 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 owns 20,158 shares of the company’s stock, valued at approximately $3,077,320.28. This represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,392 shares of company stock worth $1,396,515 over the last ninety days. 1.36% of the stock is owned by company insiders.

Extra Space Storage Trading Up 0.6 %

EXR stock opened at $145.46 on Thursday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The company has a market cap of $30.84 billion, a price-to-earnings ratio of 38.08, a PEG ratio of 7.76 and a beta of 0.90. The business has a fifty day simple moving average of $152.57 and a 200-day simple moving average of $160.44. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87.

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

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $1.62 per share. The ex-dividend date is Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.45%. Extra Space Storage’s dividend payout ratio (DPR) is 160.40%.

Extra Space Storage 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.