Atria Investments Inc Has $812,000 Stake in Extra Space Storage Inc. (NYSE:EXR)

Atria Investments Inc lowered its position in Extra Space Storage Inc. (NYSE:EXR) by 40.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,508 shares of the real estate investment trust’s stock after selling 3,054 shares during the quarter. Atria Investments Inc’s holdings in Extra Space Storage were worth $812,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Gateway Investment Advisers LLC acquired a new stake in Extra Space Storage in the 2nd quarter valued at about $16,026,000. MADDEN SECURITIES Corp bought a new position in shares of Extra Space Storage during the 2nd quarter worth approximately $1,002,000. Tidal Investments LLC increased its holdings in shares of Extra Space Storage by 262.5% during the 1st quarter. Tidal Investments LLC now owns 12,967 shares of the real estate investment trust’s stock worth $1,906,000 after acquiring an additional 9,390 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Extra Space Storage by 53.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,738 shares of the real estate investment trust’s stock valued at $1,824,000 after acquiring an additional 4,102 shares during the period. Finally, Czech National Bank lifted its holdings in Extra Space Storage by 8.5% during the 2nd quarter. Czech National Bank now owns 40,346 shares of the real estate investment trust’s stock valued at $6,270,000 after purchasing an additional 3,172 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Insider Activity at Extra Space Storage

In related news, Director Kenneth M. Woolley sold 6,647 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $177.23, for a total transaction of $1,178,047.81. Following the completion of the sale, the director now directly owns 404,306 shares in the company, valued at $71,655,152.38. This represents a 1.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 24,190 shares in the company, valued at approximately $4,318,398.80. This represents a 23.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,970 shares of company stock valued at $3,367,307 over the last three months. 1.36% of the stock is owned by insiders.

Extra Space Storage Stock Performance

EXR opened at $164.79 on Tuesday. 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 52-week low of $125.32 and a 52-week high of $184.87. The firm has a market cap of $34.93 billion, a P/E ratio of 43.08, a price-to-earnings-growth ratio of 8.29 and a beta of 0.87. The business’s fifty day moving average is $171.50 and its 200-day moving average is $162.82.

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

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a yield of 3.93%. Extra Space Storage’s dividend payout ratio (DPR) is 169.63%.

Wall Street Analyst Weigh In

EXR has been the topic of several research analyst reports. Truist Financial increased their price objective on shares of Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Royal Bank of Canada started coverage on shares of Extra Space Storage in a report on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 price target on the stock. Jefferies Financial Group upgraded Extra Space Storage from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $162.00 to $204.00 in a report on Wednesday, September 18th. KeyCorp upped their target price on Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Finally, Raymond James boosted their price target on Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $171.50.

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.