Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Symphony Financial Ltd. Co.

Symphony Financial Ltd. Co. decreased its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 9.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,158 shares of the real estate investment trust’s stock after selling 814 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in Extra Space Storage were worth $1,239,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in EXR. Ashton Thomas Securities LLC purchased a new stake in Extra Space Storage in the third quarter valued at approximately $33,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Extra Space Storage in the 3rd quarter valued at $42,000. Continuum Advisory LLC grew its stake in shares of Extra Space Storage by 68.1% during the 3rd quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 126 shares during the period. Sunbelt Securities Inc. increased its holdings in shares of Extra Space Storage by 441.2% during the 2nd quarter. Sunbelt Securities Inc. now owns 617 shares of the real estate investment trust’s stock worth $96,000 after buying an additional 503 shares during the last quarter. Finally, DiNuzzo Private Wealth Inc. purchased a new position in shares of Extra Space Storage in the 3rd quarter worth $129,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Price Performance

EXR opened at $153.98 on Friday. Extra Space Storage Inc. has a twelve month low of $131.02 and a twelve month high of $184.87. The firm has a market cap of $32.64 billion, a price-to-earnings ratio of 40.31, a PEG ratio of 7.62 and a beta of 0.91. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The company has a fifty day simple moving average of $155.09 and a 200 day simple moving average of $164.66.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($1.12). Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business had revenue of $824.80 million for the quarter, compared to analyst estimates of $826.93 million. During the same quarter in the prior year, the business earned $2.02 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. Equities research analysts expect that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a dividend of $1.62 per share. The ex-dividend date was Monday, December 16th. This represents a $6.48 annualized dividend and a yield of 4.21%. Extra Space Storage’s dividend payout ratio is presently 169.63%.

Analysts Set New Price Targets

EXR has been the subject of a number of research reports. Truist Financial boosted their price target on Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Scotiabank raised shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 target price for the company in a research report on Friday, January 10th. StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday. 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 research note on Monday, January 13th. Finally, Evercore ISI cut their target price on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $174.00.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, Director Diane Olmstead sold 3,081 shares of the firm’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 directly owns 5,877 shares of the company’s stock, valued at $967,119.12. This trade represents a 34.39 % decrease in their position. 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 the company’s stock in a transaction dated 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 owns 16,690 shares in the company, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is currently 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.