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

Arkadios Wealth Advisors grew its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 9.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,182 shares of the real estate investment trust’s stock after purchasing an additional 534 shares during the period. Arkadios Wealth Advisors’ holdings in Extra Space Storage were worth $925,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Merit Financial Group LLC increased its holdings in shares of Extra Space Storage by 163.0% in the 4th quarter. Merit Financial Group LLC now owns 3,124 shares of the real estate investment trust’s stock worth $467,000 after acquiring an additional 1,936 shares during the period. Wedge Capital Management L L P NC grew its position in Extra Space Storage by 1.3% in the 4th quarter. Wedge Capital Management L L P NC now owns 5,138 shares of the real estate investment trust’s stock worth $769,000 after purchasing an additional 68 shares during the last quarter. Carnegie Investment Counsel acquired a new stake in shares of Extra Space Storage in the fourth quarter valued at approximately $266,000. CHURCHILL MANAGEMENT Corp raised its holdings in shares of Extra Space Storage by 4.6% during the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 58,249 shares of the real estate investment trust’s stock valued at $8,714,000 after buying an additional 2,569 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its position in shares of Extra Space Storage by 20.2% during the fourth quarter. Park Avenue Securities LLC now owns 4,273 shares of the real estate investment trust’s stock worth $639,000 after buying an additional 719 shares during the period. 99.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction 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 owns 16,690 shares of the company’s stock, valued at $2,470,286.90. The trade was a 31.00 % decrease in their position. 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 Extra Space Storage stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $164.56, for a total value of $507,009.36. Following the completion of the transaction, the director now owns 5,877 shares in the company, valued at $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. Corporate insiders own 1.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on EXR. StockNews.com cut Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Scotiabank raised shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective for the company in a report on Friday, January 10th. Evercore ISI lowered 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. 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 report on Monday, January 13th. Finally, Truist Financial boosted their target price on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Extra Space Storage presently has an average rating of “Hold” and an average price target of $171.25.

Extra Space Storage Stock Down 0.6 %

Shares of Extra Space Storage stock opened at $150.75 on Tuesday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 1 year low of $131.02 and a 1 year high of $184.87. The stock has a 50-day moving average price of $156.95 and a 200 day moving average price of $164.96. The company has a market cap of $31.96 billion, a P/E ratio of 39.46, a P/E/G ratio of 7.18 and a beta of 0.91.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data 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 company had revenue of $824.80 million for the quarter, compared to analysts’ expectations of $826.93 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.02 earnings per share. As a group, analysts expect that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date was Monday, December 16th. Extra Space Storage’s payout ratio is 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.