Wedbush Securities Inc. Acquires 286 Shares of Extra Space Storage Inc. (NYSE:EXR)

Wedbush Securities Inc. raised its holdings in Extra Space Storage Inc. (NYSE:EXR) by 3.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,574 shares of the real estate investment trust’s stock after purchasing an additional 286 shares during the period. Wedbush Securities Inc.’s holdings in Extra Space Storage were worth $1,133,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of EXR. Walleye Capital LLC boosted its holdings in shares of Extra Space Storage by 174.8% during the 3rd quarter. Walleye Capital LLC now owns 1,280 shares of the real estate investment trust’s stock valued at $231,000 after acquiring an additional 2,992 shares in the last quarter. HighTower Advisors LLC raised its position in Extra Space Storage by 3.5% in the third quarter. HighTower Advisors LLC now owns 44,420 shares of the real estate investment trust’s stock valued at $8,008,000 after purchasing an additional 1,486 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Extra Space Storage by 1.7% during the third quarter. Janus Henderson Group PLC now owns 29,117 shares of the real estate investment trust’s stock valued at $5,246,000 after purchasing an additional 500 shares in the last quarter. IHT Wealth Management LLC bought a new stake in shares of Extra Space Storage during the third quarter worth about $282,000. Finally, Royal London Asset Management Ltd. increased its stake in shares of Extra Space Storage by 3.4% in the third quarter. Royal London Asset Management Ltd. now owns 86,078 shares of the real estate investment trust’s stock valued at $15,510,000 after buying an additional 2,849 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Trading Down 4.2 %

NYSE EXR opened at $138.05 on Monday. The stock has a market capitalization of $29.30 billion, a P/E ratio of 36.14, a P/E/G ratio of 7.76 and a beta of 0.96. The business has a 50 day simple moving average of $151.74 and a 200 day simple moving average of $158.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. Extra Space Storage Inc. has a one year low of $131.02 and a one 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 EPS for the quarter, topping the consensus estimate of $1.10 by $0.93. The company had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. Research analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $1.62 per share. The ex-dividend date was Friday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.69%. Extra Space Storage’s dividend payout ratio is currently 160.40%.

Analysts Set New Price Targets

Several research firms recently commented on EXR. Wells Fargo & Company cut their target price on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. Barclays cut their price target on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. The Goldman Sachs Group restated a “buy” rating on shares of Extra Space Storage in a report on Thursday, March 6th. StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Finally, Royal Bank of Canada reduced their price target 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $171.09.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the completion of the sale, the chief executive officer now owns 9,190 shares in the company, valued at $1,355,065.50. The trade was a 44.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 value of $100,195.20. Following the completion of the transaction, the director now owns 4,557 shares in the company, valued at approximately $679,448.70. This represents a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,392 shares of company stock worth $1,392,315. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Company 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.