Atria Wealth Solutions Inc. Grows Stake in Extra Space Storage Inc. (NYSE:EXR)

Atria Wealth Solutions Inc. grew its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 177.0% in the fourth quarter, Holdings Channel reports. The firm owned 7,775 shares of the real estate investment trust’s stock after purchasing an additional 4,968 shares during the period. Atria Wealth Solutions Inc.’s holdings in Extra Space Storage were worth $1,247,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in EXR. Vanguard Group Inc. grew its position in shares of Extra Space Storage by 55.7% during the 3rd quarter. Vanguard Group Inc. now owns 33,686,341 shares of the real estate investment trust’s stock valued at $4,095,585,000 after purchasing an additional 12,055,172 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Extra Space Storage by 599.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,345,787 shares of the real estate investment trust’s stock valued at $406,781,000 after purchasing an additional 2,867,657 shares in the last quarter. Diamond Hill Capital Management Inc. purchased a new position in shares of Extra Space Storage during the 3rd quarter valued at $173,621,000. First Eagle Investment Management LLC grew its position in shares of Extra Space Storage by 233,362.8% during the 3rd quarter. First Eagle Investment Management LLC now owns 1,323,734 shares of the real estate investment trust’s stock valued at $160,940,000 after purchasing an additional 1,323,167 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Extra Space Storage by 22.1% during the 3rd quarter. Principal Financial Group Inc. now owns 6,505,834 shares of the real estate investment trust’s stock valued at $790,975,000 after purchasing an additional 1,178,760 shares in the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $145.00, for a total value of $195,750.00. Following the completion of the sale, the executive vice president now directly owns 37,028 shares in the company, valued at $5,369,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $145.00, for a total value of $195,750.00. Following the completion of the sale, the executive vice president now directly owns 37,028 shares in the company, valued at $5,369,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Samrat Sondhi sold 2,048 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $146.46, for a total transaction of $299,950.08. Following the completion of the sale, the chief marketing officer now owns 94,126 shares of the company’s stock, valued at $13,785,693.96. The disclosure for this sale can be found here. Insiders sold 3,532 shares of company stock worth $514,819 over the last three months. Company insiders own 1.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Extra Space Storage in a research report on Tuesday, January 30th. They issued a “hold” rating and a $141.00 target price for the company. The Goldman Sachs Group upped their target price on shares of Extra Space Storage from $168.00 to $187.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Scotiabank assumed coverage on shares of Extra Space Storage in a research report on Tuesday, February 13th. They issued a “sector underperform” rating and a $131.00 target price for the company. Barclays assumed coverage on shares of Extra Space Storage in a research report on Wednesday, March 27th. They issued an “overweight” rating and a $157.00 target price for the company. Finally, Evercore ISI cut their target price on shares of Extra Space Storage from $145.00 to $139.00 in a research report on Wednesday. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $149.67.

Extra Space Storage Stock Performance

Extra Space Storage stock opened at $138.70 on Thursday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.71. The firm has a 50-day moving average of $141.55 and a 200-day moving average of $138.54. The firm has a market cap of $29.35 billion, a P/E ratio of 28.08, a P/E/G ratio of 3.37 and a beta of 0.74. Extra Space Storage Inc. has a 1-year low of $101.19 and a 1-year high of $164.99.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.02 EPS for the quarter, missing the consensus estimate of $2.03 by ($1.01). Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. The company had revenue of $797.77 million during the quarter, compared to analysts’ expectations of $778.05 million. During the same quarter last year, the business earned $2.09 earnings per share. The business’s quarterly revenue was up 57.4% on a year-over-year basis. Sell-side analysts expect that Extra Space Storage Inc. will post 8.05 EPS for the current year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $1.62 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.67%. Extra Space Storage’s dividend payout ratio (DPR) is presently 131.17%.

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.