Axxcess Wealth Management LLC Has $277,000 Holdings in Extra Space Storage Inc. (NYSE:EXR)

Axxcess Wealth Management LLC grew its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 18.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,538 shares of the real estate investment trust’s stock after acquiring an additional 244 shares during the period. Axxcess Wealth Management LLC’s holdings in Extra Space Storage were worth $277,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. EdgeRock Capital LLC bought a new position in shares of Extra Space Storage during the second quarter worth approximately $25,000. Centerpoint Advisors LLC bought a new position in shares of Extra Space Storage during the second quarter worth approximately $27,000. Blue Trust Inc. increased its holdings in shares of Extra Space Storage by 540.5% during the second quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 200 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Extra Space Storage by 2,760.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 276 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of Extra Space Storage by 19.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust’s stock worth $72,000 after purchasing an additional 76 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on EXR. Truist Financial raised their target price on shares of Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Scotiabank lifted their price objective on shares of Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a research note on Thursday, August 22nd. KeyCorp lifted their price objective on shares of Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Finally, Barclays lifted their price objective on shares of Extra Space Storage from $188.00 to $192.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $171.50.

Extra Space Storage Stock Performance

Shares of Extra Space Storage stock opened at $163.45 on Friday. Extra Space Storage Inc. has a fifty-two week low of $125.32 and a fifty-two week 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 firm has a market capitalization of $34.65 billion, a P/E ratio of 42.79, a P/E/G ratio of 6.11 and a beta of 0.87. The company’s 50 day moving average price is $171.88 and its two-hundred day moving average price is $162.26.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). The business had revenue of $824.80 million for the quarter, compared to analyst estimates of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. Extra Space Storage’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.02 EPS. On average, equities analysts forecast that Extra Space Storage Inc. will post 8.09 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $1.62 per share. The ex-dividend date was Monday, September 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.96%. Extra Space Storage’s dividend payout ratio (DPR) is presently 169.63%.

Insider Transactions at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total value of $1,338,900.00. Following the transaction, the chief executive officer now owns 24,190 shares in the company, valued at $4,318,398.80. The trade was a 23.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gwyn Goodson Mcneal sold 2,823 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $177.01, for a total transaction of $499,699.23. Following the completion of the transaction, the executive vice president now owns 32,855 shares in the company, valued at approximately $5,815,663.55. The trade was a 7.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,970 shares of company stock worth $3,367,307. Company insiders own 1.36% of the company’s stock.

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.