TD Private Client Wealth LLC Sells 895 Shares of Extra Space Storage Inc. (NYSE:EXR)

TD Private Client Wealth LLC reduced its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 81.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 209 shares of the real estate investment trust’s stock after selling 895 shares during the period. TD Private Client Wealth LLC’s holdings in Extra Space Storage were worth $31,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new position in Extra Space Storage during the fourth quarter valued at $25,000. Harbour Investments Inc. grew its stake in shares of Extra Space Storage by 90.9% during 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 period. Harvest Fund Management Co. Ltd purchased a new stake in Extra Space Storage in the 3rd quarter worth about $42,000. Quent Capital LLC increased its holdings in Extra Space Storage by 89.0% in 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 during the last quarter. Finally, Asset Planning Inc bought a new stake in Extra Space Storage in the 4th quarter valued at about $52,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insiders Place Their Bets

In other Extra Space Storage news, EVP William N. Springer sold 1,220 shares of the business’s 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 completion of the sale, the executive vice president now directly owns 20,158 shares of the company’s stock, valued at $3,077,320.28. The trade was a 5.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 16,690 shares in the company, 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 sold a total of 9,392 shares of company stock valued at $1,396,515 over the last quarter. 1.36% of the stock is owned by corporate insiders.

Extra Space Storage Trading Up 0.6 %

Shares of EXR opened at $145.46 on Thursday. 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 1-year low of $131.02 and a 1-year high of $184.87. The company has a market capitalization of $30.84 billion, a P/E ratio of 38.08, a P/E/G ratio of 7.76 and a beta of 0.90. The firm’s 50 day simple moving average is $152.57 and its 200 day simple moving average is $160.44.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Sell-side analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $1.62 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.45%. Extra Space Storage’s payout ratio is 160.40%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada reduced their target price on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. The Goldman Sachs Group reiterated a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Barclays dropped their price objective on Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. Finally, Scotiabank reduced their target price 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 issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $171.09.

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.