Navellier & Associates Inc. Increases Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Navellier & Associates Inc. increased its position in Extra Space Storage Inc. (NYSE:EXR) by 34.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,856 shares of the real estate investment trust’s stock after buying an additional 979 shares during the quarter. Navellier & Associates Inc.’s holdings in Extra Space Storage were worth $577,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in shares of Extra Space Storage in the fourth quarter valued at $25,000. Ashton Thomas Securities LLC purchased a new position in shares of Extra Space Storage in the third quarter valued at $33,000. Harvest Fund Management Co. Ltd acquired a new stake in Extra Space Storage in the third quarter valued at $42,000. Quent Capital LLC raised its holdings in Extra Space Storage by 89.0% in the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 154 shares in the last quarter. Finally, Asset Planning Inc acquired a new stake in Extra Space Storage in the fourth quarter valued at $52,000. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Extra Space Storage Stock Down 0.1 %

Shares of NYSE:EXR opened at $155.85 on Friday. The stock has a market capitalization of $33.04 billion, a price-to-earnings ratio of 40.80, a price-to-earnings-growth ratio of 7.76 and a beta of 0.91. Extra Space Storage Inc. has a 1-year low of $131.02 and a 1-year high of $184.87. The company’s fifty day moving average is $151.61 and its two-hundred day moving average is $163.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.16%. Extra Space Storage’s dividend payout ratio (DPR) is presently 169.63%.

Insider Buying and Selling

In related news, CEO Joseph D. Margolis sold 7,500 shares of the 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 sale, the chief executive officer now owns 16,690 shares of the company’s stock, valued at $2,470,286.90. This trade represents a 31.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on EXR. Scotiabank raised shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price target on the stock in a report on Friday, January 10th. Wells Fargo & Company cut their price target on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday. Barclays cut their price target on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Finally, Truist Financial upped their price target on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a report on Thursday, December 5th. One 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $173.09.

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.