Extra Space Storage Inc. (NYSE:EXR) Shares Acquired by Global Wealth Management Investment Advisory Inc.

Global Wealth Management Investment Advisory Inc. grew its stake in Extra Space Storage Inc. (NYSE:EXR) by 3.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,819 shares of the real estate investment trust’s stock after buying an additional 689 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Extra Space Storage were worth $2,815,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Pathway Financial Advisers LLC lifted its stake in Extra Space Storage by 17,832.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust’s stock valued at $363,783,000 after acquiring an additional 2,007,626 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Extra Space Storage by 724.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust’s stock worth $357,100,000 after purchasing an additional 1,741,320 shares during the last quarter. Manning & Napier Advisors LLC lifted its position in Extra Space Storage by 1,127.2% during the fourth quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust’s stock valued at $116,985,000 after purchasing an additional 718,266 shares during the period. Mizuho Securities USA LLC boosted its holdings in Extra Space Storage by 1,664.3% in the third quarter. Mizuho Securities USA LLC now owns 288,094 shares of the real estate investment trust’s stock valued at $51,912,000 after purchasing an additional 271,765 shares during the last quarter. Finally, Hamlin Capital Management LLC grew its position in Extra Space Storage by 44.8% during the 3rd quarter. Hamlin Capital Management LLC now owns 766,043 shares of the real estate investment trust’s stock worth $138,033,000 after purchasing an additional 236,908 shares during the period. 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 several recent research reports. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Evercore ISI decreased their price objective on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a research report on Monday, October 14th. Scotiabank upgraded Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price target for the company in a research note on Friday, January 10th. Wells Fargo & Company reiterated an “equal weight” rating and set a $175.00 price target on shares of Extra Space Storage in a research report on Monday, October 21st. Finally, Truist Financial boosted 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $174.00.

Insider Transactions at Extra Space Storage

In related news, Director Diane Olmstead sold 3,081 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $164.56, for a total transaction of $507,009.36. Following the completion of the sale, the director now directly owns 5,877 shares in the company, valued at approximately $967,119.12. This trade represents a 34.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the completion of the sale, the chief executive officer now directly owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.36% of the company’s stock.

Extra Space Storage Price Performance

Shares of NYSE EXR opened at $156.01 on Monday. The firm has a 50-day simple moving average of $153.06 and a 200-day simple moving average of $164.18. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $33.07 billion, a price-to-earnings ratio of 40.84, a price-to-earnings-growth ratio of 7.77 and a beta of 0.91. Extra Space Storage Inc. has a 52 week low of $131.02 and a 52 week high of $184.87.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date was Monday, December 16th. Extra Space Storage’s dividend payout ratio (DPR) is 169.63%.

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.