Argent Capital Management LLC Sells 2,537 Shares of Extra Space Storage Inc. (NYSE:EXR)

Argent Capital Management LLC lowered its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 125,916 shares of the real estate investment trust’s stock after selling 2,537 shares during the quarter. Argent Capital Management LLC owned 0.06% of Extra Space Storage worth $18,837,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in Extra Space Storage during the third quarter valued at $33,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Extra Space Storage in the 3rd quarter worth about $42,000. Continuum Advisory LLC lifted its holdings in shares of Extra Space Storage by 68.1% in the 3rd 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. Sunbelt Securities Inc. lifted its holdings in shares of Extra Space Storage by 441.2% in the 2nd quarter. Sunbelt Securities Inc. now owns 617 shares of the real estate investment trust’s stock worth $96,000 after acquiring an additional 503 shares during the last quarter. Finally, DiNuzzo Private Wealth Inc. bought a new stake in shares of Extra Space Storage in the 3rd quarter worth about $129,000. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Up 0.5 %

Shares of Extra Space Storage stock opened at $149.51 on Thursday. The firm’s 50 day moving average price is $157.83 and its 200-day moving average price is $164.93. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 52-week low of $131.02 and a 52-week high of $184.87. The company has a market cap of $31.69 billion, a P/E ratio of 39.14, a PEG ratio of 7.18 and a beta of 0.91.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). The firm had revenue of $824.80 million during the quarter, compared to analysts’ expectations of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.02 EPS. On average, sell-side analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date was Monday, December 16th. Extra Space Storage’s dividend payout ratio (DPR) is presently 169.63%.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Diane Olmstead sold 3,081 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $164.56, for a total transaction of $507,009.36. Following the completion of the transaction, the director now owns 5,877 shares of the company’s stock, valued at approximately $967,119.12. This 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 owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on EXR shares. Jefferies Financial Group upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and raised their target price for the stock from $162.00 to $204.00 in a report on Wednesday, September 18th. Evercore ISI lowered their target price on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a report on Monday, October 14th. Wells Fargo & Company restated an “equal weight” rating and issued a $175.00 target price on shares of Extra Space Storage in a report on Monday, October 21st. Barclays decreased their price objective 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. Finally, StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $171.25.

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.