SMART Wealth LLC Has $348,000 Stock Position in Extra Space Storage Inc. (NYSE:EXR)

SMART Wealth LLC lessened its holdings in Extra Space Storage Inc. (NYSE:EXR) by 53.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,325 shares of the real estate investment trust’s stock after selling 2,620 shares during the period. SMART Wealth LLC’s holdings in Extra Space Storage were worth $348,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Extra Space Storage by 5.1% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 67,196 shares of the real estate investment trust’s stock worth $10,053,000 after purchasing an additional 3,290 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Extra Space Storage by 1.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 806,509 shares of the real estate investment trust’s stock worth $120,654,000 after buying an additional 8,090 shares in the last quarter. RNC Capital Management LLC purchased a new stake in Extra Space Storage in the 4th quarter valued at $250,000. State of Alaska Department of Revenue lifted its stake in Extra Space Storage by 0.6% during the 4th quarter. State of Alaska Department of Revenue now owns 125,233 shares of the real estate investment trust’s stock valued at $18,733,000 after acquiring an additional 689 shares in the last quarter. Finally, Vanderbilt University boosted its holdings in Extra Space Storage by 1.3% during the 4th quarter. Vanderbilt University now owns 17,528 shares of the real estate investment trust’s stock worth $2,622,000 after acquiring an additional 220 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Insider Activity at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the transaction, the chief executive officer now directly owns 16,690 shares of the company’s stock, valued at $2,470,286.90. This trade represents a 31.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 value of $507,009.36. Following the sale, the director now owns 5,877 shares in the company, valued at approximately $967,119.12. The trade was 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 currently owned by corporate insiders.

Extra Space Storage Trading Up 0.6 %

Shares of Extra Space Storage stock opened at $155.87 on Friday. The stock has a market capitalization of $33.04 billion, a P/E ratio of 40.80, a P/E/G ratio of 7.67 and a beta of 0.91. Extra Space Storage Inc. has a 52-week low of $131.02 and a 52-week high of $184.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The stock’s 50-day simple moving average is $153.70 and its 200 day simple moving average is $164.32.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend was Monday, December 16th. Extra Space Storage’s dividend payout ratio (DPR) is currently 169.63%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Scotiabank raised shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price target on the stock in a research report on Friday, January 10th. Wells Fargo & Company restated an “equal weight” rating and issued a $175.00 target price on shares of Extra Space Storage in a research note on Monday, October 21st. Evercore ISI decreased their price target on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a research report on Monday, October 14th. Barclays dropped their price target on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Finally, Truist Financial upped their price objective on Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $174.00.

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.