NewEdge Wealth LLC Raises Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

NewEdge Wealth LLC raised its stake in Extra Space Storage Inc. (NYSE:EXR) by 14.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 9,269 shares of the real estate investment trust’s stock after buying an additional 1,137 shares during the quarter. NewEdge Wealth LLC’s holdings in Extra Space Storage were worth $1,387,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in EXR. Golden State Wealth Management LLC purchased a new position in shares of Extra Space Storage in the 4th quarter worth approximately $25,000. Ashton Thomas Securities LLC acquired a new stake in Extra Space Storage in the third quarter valued at approximately $33,000. Harvest Fund Management Co. Ltd purchased a new position in Extra Space Storage in the third quarter worth $42,000. Quent Capital LLC grew 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 worth $49,000 after purchasing an additional 154 shares during the last quarter. Finally, Asset Planning Inc acquired a new position in shares of Extra Space Storage during the fourth quarter worth $52,000. 99.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Scotiabank raised Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective for the company in a research report on Friday, January 10th. Wells Fargo & Company lowered their price target on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a report on Friday, February 21st. Royal Bank of Canada cut their price objective on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a report on Thursday. Truist Financial lifted their target price 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, 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $171.55.

Insiders Place Their Bets

In related news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 16,690 shares in the company, valued at $2,470,286.90. The trade was a 31.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.36% of the company’s stock.

Extra Space Storage Trading Down 0.7 %

Shares of Extra Space Storage stock opened at $152.36 on Friday. The stock has a market cap of $32.30 billion, a PE ratio of 39.88, a price-to-earnings-growth ratio of 7.76 and a beta of 0.91. The firm has a fifty day moving average price of $152.27 and a 200 day moving average price of $163.45. Extra Space Storage Inc. has a 1 year low of $131.02 and a 1 year high of $184.87. 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 (NYSE:EXR) last released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.93. The business had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. Equities research analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current 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 issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date is Friday, March 14th. Extra Space Storage’s payout ratio is presently 160.40%.

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.