Extra Space Storage Inc. (NYSE:EXR) Shares Bought by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC raised its stake in Extra Space Storage Inc. (NYSE:EXR) by 2.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,449 shares of the real estate investment trust’s stock after purchasing an additional 75 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Extra Space Storage were worth $516,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new position in Extra Space Storage in the fourth quarter valued at about $25,000. Ashton Thomas Securities LLC acquired a new position in Extra Space Storage in the third quarter valued at about $33,000. Harvest Fund Management Co. Ltd acquired a new position in Extra Space Storage in the third quarter valued at about $42,000. Quent Capital LLC lifted its position 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 buying an additional 154 shares during the last quarter. Finally, Asset Planning Inc acquired a new position in Extra Space Storage in the fourth quarter valued at about $52,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on EXR shares. Scotiabank upgraded 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 research note on Friday, January 10th. 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 research note on Monday, January 13th. 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 research note on Friday, February 21st. Truist Financial boosted their price target on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Finally, StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Extra Space Storage presently has a consensus rating of “Hold” and an average target price of $173.09.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, 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 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 represents a 31.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.36% of the stock is currently owned by insiders.

Extra Space Storage Stock Down 4.5 %

EXR stock opened at $154.05 on Thursday. The company’s 50 day moving average price is $151.94 and its 200 day moving average price is $163.62. 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 Inc. has a fifty-two week low of $131.02 and a fifty-two week high of $184.87. The firm has a market capitalization of $32.66 billion, a price-to-earnings ratio of 40.33, a PEG ratio of 7.76 and a beta of 0.91.

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

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $1.62 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.21%. Extra Space Storage’s dividend payout ratio is currently 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.