Level Four Advisory Services LLC Buys 173 Shares of Extra Space Storage Inc. (NYSE:EXR)

Level Four Advisory Services LLC boosted its stake in Extra Space Storage Inc. (NYSE:EXR) by 7.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,436 shares of the real estate investment trust’s stock after purchasing an additional 173 shares during the quarter. Level Four Advisory Services LLC’s holdings in Extra Space Storage were worth $364,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in EXR. Golden State Wealth Management LLC purchased a new stake in shares of Extra Space Storage in the fourth quarter worth about $25,000. Harbour Investments Inc. increased its stake in Extra Space Storage by 90.9% in the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 80 shares during the last quarter. Quent Capital LLC raised its holdings in shares of Extra Space Storage by 89.0% during the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 154 shares in the last quarter. Asset Planning Inc bought a new position in shares of Extra Space Storage during the 4th quarter valued at approximately $52,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Extra Space Storage in the fourth quarter valued at $54,000. Institutional investors own 99.11% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Extra Space Storage news, EVP William N. Springer sold 1,220 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following the sale, the executive vice president now owns 20,158 shares of the company’s stock, valued at approximately $3,077,320.28. This trade represents a 5.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $1,110,075.00. Following the sale, the chief executive officer now owns 16,690 shares of the company’s stock, valued at $2,470,286.90. This trade represents a 31.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,392 shares of company stock worth $1,396,515 in the last three months. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $148.67 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The stock has a market cap of $31.52 billion, a price-to-earnings ratio of 38.92, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90. The firm has a 50-day moving average of $152.29 and a two-hundred day moving average of $159.69. 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 announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.93. The company had revenue of $821.90 million for the quarter, compared to analysts’ expectations of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. On average, research analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date was Friday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is presently 160.40%.

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.