Aptus Capital Advisors LLC Purchases 82 Shares of Extra Space Storage Inc. (NYSE:EXR)

Aptus Capital Advisors LLC grew its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 5.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 1,570 shares of the real estate investment trust’s stock after acquiring an additional 82 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Extra Space Storage were worth $283,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of EXR. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in Extra Space Storage by 335.4% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 50,402 shares of the real estate investment trust’s stock valued at $9,082,000 after purchasing an additional 38,825 shares during the last quarter. Venturi Wealth Management LLC lifted its position in shares of Extra Space Storage by 3.3% during the third quarter. Venturi Wealth Management LLC now owns 6,653 shares of the real estate investment trust’s stock valued at $1,199,000 after purchasing an additional 211 shares in the last quarter. Catalytic Wealth RIA LLC increased its holdings in Extra Space Storage by 18.5% during the third quarter. Catalytic Wealth RIA LLC now owns 2,534 shares of the real estate investment trust’s stock worth $457,000 after buying an additional 395 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Extra Space Storage in the third quarter worth about $33,000. Finally, Axxcess Wealth Management LLC grew its stake in Extra Space Storage by 18.9% during the third quarter. Axxcess Wealth Management LLC now owns 1,538 shares of the real estate investment trust’s stock valued at $277,000 after acquiring an additional 244 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Gwyn Goodson Mcneal sold 2,823 shares of Extra Space Storage stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $177.01, for a total value of $499,699.23. Following the sale, the executive vice president now owns 32,855 shares of the company’s stock, valued at $5,815,663.55. The trade was a 7.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William N. Springer sold 2,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total transaction of $350,660.00. Following the sale, the executive vice president now directly owns 11,919 shares in the company, valued at approximately $2,089,758.27. This represents a 14.37 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,970 shares of company stock valued at $3,367,307. 1.36% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on EXR. Barclays boosted their price objective on shares of Extra Space Storage from $188.00 to $192.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. KeyCorp increased their price objective on shares of Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Bank of America lowered shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and cut their target price for the company from $172.00 to $155.00 in a report on Monday, August 5th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $175.00 target price on shares of Extra Space Storage in a research report on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $171.50.

Extra Space Storage Stock Up 0.7 %

Shares of EXR opened at $164.56 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. Extra Space Storage Inc. has a one year low of $125.32 and a one year high of $184.87. The stock has a market capitalization of $34.88 billion, a price-to-earnings ratio of 43.08, a PEG ratio of 8.26 and a beta of 0.87. The stock has a 50 day moving average price of $171.50 and a 200 day moving average price of $162.46.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) 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 company had revenue of $824.80 million during the quarter, compared to analysts’ expectations of $826.93 million. During the same quarter in the previous year, the company earned $2.02 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities research analysts forecast that Extra Space Storage Inc. will post 8.09 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.94%. Extra Space Storage’s dividend payout ratio is presently 169.63%.

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.