Extra Space Storage Inc. (NYSE:EXR) Stake Lowered by Farther Finance Advisors LLC

Farther Finance Advisors LLC cut its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 7.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,178 shares of the real estate investment trust’s stock after selling 99 shares during the quarter. Farther Finance Advisors LLC’s holdings in Extra Space Storage were worth $176,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new position in shares of Extra Space Storage during the fourth quarter valued at approximately $25,000. Harvest Fund Management Co. Ltd bought a new position in shares of Extra Space Storage during the third quarter valued at approximately $42,000. Quent Capital LLC grew its holdings in shares of Extra Space Storage by 89.0% during the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 154 shares during the last quarter. Asset Planning Inc bought a new position in shares of Extra Space Storage during the fourth quarter valued at approximately $52,000. Finally, Kestra Investment Management LLC bought a new position in shares of Extra Space Storage during the fourth quarter valued at approximately $54,000. 99.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on EXR. Royal Bank of Canada lowered their target price on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Truist Financial increased their price objective on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday, March 7th. The Goldman Sachs Group reissued a “buy” rating on shares of Extra Space Storage in a report on Thursday, March 6th. Finally, Scotiabank decreased their price objective on Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating for the company in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $171.09.

Insider Activity

In other news, Director Joseph J. Bonner sold 672 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $149.10, for a total transaction of $100,195.20. Following the completion of the sale, the director now owns 4,557 shares in the company, valued at approximately $679,448.70. This represents a 12.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William N. Springer sold 1,220 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $152.66, for a total value of $186,245.20. Following the sale, the executive vice president now owns 20,158 shares of the company’s stock, valued at $3,077,320.28. This trade represents a 5.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,392 shares of company stock worth $1,396,515. Insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Performance

Shares of NYSE EXR opened at $146.71 on Thursday. The stock has a fifty day moving average price of $152.86 and a two-hundred day moving average price of $161.49. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The firm has a market cap of $31.10 billion, a P/E ratio of 38.40, a PEG ratio of 7.76 and a beta of 0.90. Extra Space Storage Inc. has a 1 year low of $131.02 and a 1 year high of $184.87.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.93. The firm had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. Research analysts forecast 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 will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.42%. Extra Space Storage’s dividend payout ratio (DPR) is presently 160.40%.

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.