U.S. Capital Wealth Advisors LLC Raises Holdings in Extra Space Storage Inc. (NYSE:EXR)

U.S. Capital Wealth Advisors LLC grew its position in Extra Space Storage Inc. (NYSE:EXR) by 4.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 8,775 shares of the real estate investment trust’s stock after purchasing an additional 391 shares during the quarter. U.S. Capital Wealth Advisors LLC’s holdings in Extra Space Storage were worth $1,364,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Extra Space Storage during the 4th quarter worth $1,022,811,000. Boston Partners purchased a new stake in shares of Extra Space Storage during the 1st quarter worth $130,554,000. Capital Research Global Investors lifted its stake in shares of Extra Space Storage by 111.4% during the 4th quarter. Capital Research Global Investors now owns 1,537,317 shares of the real estate investment trust’s stock worth $246,478,000 after purchasing an additional 810,158 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Extra Space Storage by 8.9% during the 4th quarter. Principal Financial Group Inc. now owns 7,083,752 shares of the real estate investment trust’s stock worth $1,135,738,000 after purchasing an additional 577,918 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Extra Space Storage by 2,244.2% during the 1st quarter. Janus Henderson Group PLC now owns 597,729 shares of the real estate investment trust’s stock worth $87,824,000 after purchasing an additional 572,231 shares during the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Extra Space Storage Stock Performance

Shares of EXR stock traded up $1.21 during mid-day trading on Friday, reaching $164.39. The stock had a trading volume of 500,665 shares, compared to its average volume of 1,084,022. The business’s fifty day moving average is $158.07 and its 200-day moving average is $148.14. The company has a current ratio of 0.20, a quick ratio of 0.15 and a debt-to-equity ratio of 0.76. The firm has a market cap of $34.81 billion, a price-to-earnings ratio of 36.61, a PEG ratio of 3.37 and a beta of 0.83. Extra Space Storage Inc. has a 1-year low of $101.19 and a 1-year high of $171.46.

Extra Space Storage Announces Dividend

The business also recently announced 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 yield of 3.94%. The ex-dividend date of this dividend was Friday, June 14th. Extra Space Storage’s dividend payout ratio (DPR) is 144.32%.

Wall Street Analyst Weigh In

EXR has been the subject of a number of analyst reports. Barclays upped their price objective on Extra Space Storage from $157.00 to $158.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. StockNews.com upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Wells Fargo & Company increased their price target on Extra Space Storage from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Bank of America cut Extra Space Storage from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $172.00 to $155.00 in a research note on Monday, August 5th. Finally, Citigroup decreased their price target on Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, Extra Space Storage presently has a consensus rating of “Hold” and a consensus target price of $160.67.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $152.58, for a total value of $1,144,350.00. Following the sale, the chief executive officer now directly owns 31,690 shares of the company’s stock, valued at $4,835,260.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $152.58, for a total value of $1,144,350.00. Following the transaction, the chief executive officer now owns 31,690 shares in the company, valued at $4,835,260.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph J. Bonner sold 677 shares of the firm’s 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 transaction, the director now owns 5,229 shares in the company, valued at approximately $775,042.38. The disclosure for this sale can be found here. 1.36% of the stock is owned by corporate insiders.

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.