Smartleaf Asset Management LLC Purchases 119 Shares of Extra Space Storage Inc. (NYSE:EXR)

Smartleaf Asset Management LLC grew its position in Extra Space Storage Inc. (NYSE:EXR) by 18.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 760 shares of the real estate investment trust’s stock after acquiring an additional 119 shares during the period. Smartleaf Asset Management LLC’s holdings in Extra Space Storage were worth $112,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its stake in shares of Extra Space Storage by 39.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,277 shares of the real estate investment trust’s stock worth $230,000 after buying an additional 362 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of Extra Space Storage by 35.6% during the 3rd quarter. QRG Capital Management Inc. now owns 2,769 shares of the real estate investment trust’s stock worth $499,000 after buying an additional 727 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of Extra Space Storage during the 3rd quarter worth about $221,000. M&G PLC acquired a new stake in shares of Extra Space Storage during the 3rd quarter worth about $210,000. Finally, Graypoint LLC lifted its stake in shares of Extra Space Storage by 4.3% during the 3rd quarter. Graypoint LLC now owns 1,575 shares of the real estate investment trust’s stock worth $284,000 after buying an additional 65 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on EXR. Royal Bank of Canada cut their target price on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Friday. Truist Financial raised 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. Wells Fargo & Company dropped their price objective on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. Finally, Scotiabank dropped their price objective on shares of Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating for the company in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $171.36.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company’s 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 completion of the transaction, the chief executive officer now directly owns 16,690 shares in the company, valued at approximately $2,470,286.90. This represents a 31.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP William N. Springer sold 1,220 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following the sale, the executive vice president now owns 20,158 shares of the company’s stock, valued at approximately $3,077,320.28. This trade represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Price Performance

EXR stock opened at $157.11 on Friday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 12 month low of $131.02 and a 12 month high of $184.87. The firm has a market cap of $33.31 billion, a P/E ratio of 41.13, a P/E/G ratio of 7.76 and a beta of 0.91. The company’s 50-day moving average price is $152.91 and its two-hundred day moving average price is $163.07.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (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, analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.12%. The ex-dividend date is Friday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is presently 160.40%.

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.