Atria Wealth Solutions Inc. Acquires 2,317 Shares of Extra Space Storage Inc. (NYSE:EXR)

Atria Wealth Solutions Inc. raised its holdings in Extra Space Storage Inc. (NYSE:EXR) by 21.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 13,332 shares of the real estate investment trust’s stock after purchasing an additional 2,317 shares during the period. Atria Wealth Solutions Inc.’s holdings in Extra Space Storage were worth $1,994,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EXR. Venturi Wealth Management LLC boosted its stake in shares of Extra Space Storage by 14.4% during the fourth quarter. Venturi Wealth Management LLC now owns 7,614 shares of the real estate investment trust’s stock valued at $1,139,000 after purchasing an additional 961 shares in the last quarter. D.A. Davidson & CO. boosted its stake in shares of Extra Space Storage by 23.8% during the fourth quarter. D.A. Davidson & CO. now owns 1,768 shares of the real estate investment trust’s stock valued at $264,000 after purchasing an additional 340 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Extra Space Storage by 4.5% during the fourth quarter. CIBC Asset Management Inc now owns 32,279 shares of the real estate investment trust’s stock valued at $4,829,000 after purchasing an additional 1,402 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Extra Space Storage by 7.1% during the fourth quarter. Sanctuary Advisors LLC now owns 19,790 shares of the real estate investment trust’s stock valued at $3,062,000 after purchasing an additional 1,310 shares in the last quarter. Finally, Principal Securities Inc. boosted its stake in shares of Extra Space Storage by 16.5% during the fourth quarter. Principal Securities Inc. now owns 3,034 shares of the real estate investment trust’s stock valued at $454,000 after purchasing an additional 429 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Trading Down 0.1 %

NYSE EXR opened at $155.85 on Friday. The company has a market cap of $33.04 billion, a price-to-earnings ratio of 40.80, a P/E/G ratio of 7.76 and a beta of 0.91. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87. The business has a 50 day moving average price of $151.61 and a 200-day moving average price of $163.72. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.16%. Extra Space Storage’s dividend payout ratio is 169.63%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on EXR shares. Barclays cut their price target on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Scotiabank raised Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective on the stock in a research note on Friday, January 10th. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Truist Financial lifted their price objective on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Finally, Wells Fargo & Company lowered their target price on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $173.09.

Insider Activity

In related news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the completion of the sale, the chief executive officer now owns 16,690 shares in the company, valued at approximately $2,470,286.90. This represents a 31.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Profile

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.