American Assets Capital Advisers LLC Cuts Position in Extra Space Storage Inc. (NYSE:EXR)

American Assets Capital Advisers LLC cut its holdings in Extra Space Storage Inc. (NYSE:EXR) by 4.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,079 shares of the real estate investment trust’s stock after selling 2,227 shares during the quarter. Extra Space Storage makes up approximately 2.4% of American Assets Capital Advisers LLC’s portfolio, making the stock its 14th largest holding. American Assets Capital Advisers LLC’s holdings in Extra Space Storage were worth $7,943,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. EdgeRock Capital LLC acquired a new position in Extra Space Storage during the 2nd quarter valued at approximately $25,000. Centerpoint Advisors LLC acquired a new position in shares of Extra Space Storage in the 2nd quarter worth approximately $27,000. Ashton Thomas Securities LLC purchased a new stake in shares of Extra Space Storage during the third quarter valued at $33,000. Blue Trust Inc. raised its holdings in shares of Extra Space Storage by 540.5% during the second quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 200 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in Extra Space Storage by 2,760.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 276 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EXR has been the subject of a number of recent analyst reports. KeyCorp upped their price target on shares of Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Wells Fargo & Company reissued an “equal weight” rating and issued a $175.00 price target on shares of Extra Space Storage in a report on Monday, October 21st. Scotiabank increased their price target on shares of Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a research report on Thursday, August 22nd. Royal Bank of Canada initiated coverage on shares of Extra Space Storage in a research note on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 price target on the stock. Finally, Raymond James upped their price objective on Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued 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 $171.50.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the transaction, the chief executive officer now owns 24,190 shares of the company’s stock, valued at $4,318,398.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the completion of the transaction, the chief executive officer now owns 24,190 shares of the company’s stock, valued at approximately $4,318,398.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Gwyn Goodson Mcneal sold 2,823 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $177.01, for a total transaction of $499,699.23. Following the completion of the sale, the executive vice president now owns 32,855 shares in the company, valued at $5,815,663.55. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,970 shares of company stock valued at $3,367,307. 1.36% of the stock is owned by insiders.

Extra Space Storage Trading Down 0.5 %

NYSE:EXR traded down $0.88 during trading hours on Tuesday, reaching $164.60. 561,438 shares of the stock were exchanged, compared to its average volume of 1,035,397. The company has a market capitalization of $34.89 billion, a price-to-earnings ratio of 43.32, a PEG ratio of 6.31 and a beta of 0.87. Extra Space Storage Inc. has a twelve month low of $116.23 and a twelve month high of $184.87. The company has a quick ratio of 0.20, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The business has a 50-day moving average of $172.39 and a two-hundred day moving average of $162.04.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). The firm had revenue of $824.80 million during the quarter, compared to analyst estimates of $826.93 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. Extra Space Storage’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.02 earnings per share. On average, equities analysts predict that Extra Space Storage Inc. will post 8.08 EPS for the current year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend was Monday, September 16th. Extra Space Storage’s payout ratio is 169.63%.

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.