Extra Space Storage Inc. (NYSE:EXR) Shares Purchased by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC raised its position in Extra Space Storage Inc. (NYSE:EXR) by 245.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 866 shares of the real estate investment trust’s stock after acquiring an additional 615 shares during the period. EverSource Wealth Advisors LLC’s holdings in Extra Space Storage were worth $130,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in EXR. Golden State Wealth Management LLC acquired a new position in shares of Extra Space Storage in the 4th quarter valued at $25,000. Harvest Fund Management Co. Ltd acquired a new position in Extra Space Storage in the third quarter valued at about $42,000. Quent Capital LLC lifted its position in Extra Space Storage by 89.0% in the fourth 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 during the last quarter. Asset Planning Inc purchased a new position in Extra Space Storage during the fourth quarter worth about $52,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Extra Space Storage during the fourth quarter valued at about $54,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $146.52 on Tuesday. The business has a 50 day simple moving average of $152.90 and a 200-day simple moving average of $161.80. Extra Space Storage Inc. has a 12 month low of $131.02 and a 12 month high of $184.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The stock has a market capitalization of $31.06 billion, a PE ratio of 38.36, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.93. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The firm had revenue of $821.90 million during the quarter, compared to analysts’ expectations of $707.34 million. Equities analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.42%. Extra Space Storage’s payout ratio is 160.40%.

Wall Street Analyst Weigh In

EXR has been the subject of several research analyst reports. StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Barclays lowered their target price on Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. Truist Financial boosted their price target on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Scotiabank lowered their price objective on shares of Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating for the company in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada dropped their price objective on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $171.09.

Insider Transactions at Extra Space Storage

In related news, EVP William N. Springer sold 1,220 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 20,158 shares of the company’s stock, valued at approximately $3,077,320.28. The trade was a 5.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the business’s 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 transaction, the chief executive officer now directly owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. This represents a 31.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,392 shares of company stock valued at $1,396,515 in the last quarter. 1.36% of the stock is currently owned by corporate insiders.

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.