Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC cut its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 7.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. 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 filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EXR. OneDigital Investment Advisors LLC acquired a new position in shares of Extra Space Storage in the third quarter worth $210,000. Empowered Funds LLC raised its holdings in shares of Extra Space Storage by 7.2% in the third quarter. Empowered Funds LLC now owns 3,928 shares of the real estate investment trust’s stock worth $708,000 after acquiring an additional 264 shares during the last quarter. Natixis Advisors LLC raised its holdings in shares of Extra Space Storage by 2.0% in the third quarter. Natixis Advisors LLC now owns 108,688 shares of the real estate investment trust’s stock worth $19,585,000 after acquiring an additional 2,095 shares during the last quarter. Pathstone Holdings LLC raised its holdings in shares of Extra Space Storage by 1.1% in the third quarter. Pathstone Holdings LLC now owns 13,027 shares of the real estate investment trust’s stock worth $2,347,000 after acquiring an additional 148 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Extra Space Storage in the third quarter worth $1,144,000. 99.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Extra Space Storage news, Director Joseph J. Bonner sold 672 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 4,557 shares in the company, valued at $679,448.70. This represents a 12.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 in the company, valued at $2,470,286.90. The trade was a 31.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,392 shares of company stock worth $1,396,515. 1.36% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Scotiabank cut their price target 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. Truist Financial lifted their price objective on Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Wells Fargo & Company lowered their price objective on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research report on Friday, February 21st. Barclays lowered their price objective on Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a research report on Wednesday, March 12th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $171.09.

Extra Space Storage Price Performance

Shares of NYSE EXR opened at $146.71 on Thursday. Extra Space Storage Inc. has a 1-year low of $131.02 and a 1-year high of $184.87. The business has a 50-day moving average of $152.86 and a 200-day moving average of $161.49. 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 company has a market capitalization of $31.10 billion, a price-to-earnings ratio of 38.40, a PEG ratio of 7.76 and a beta of 0.90.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.93. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. On average, equities analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.42%. The ex-dividend date is Friday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is 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.