Larson Financial Group LLC Reduces Holdings in Extra Space Storage Inc. (NYSE:EXR)

Larson Financial Group LLC trimmed its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 72.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 251 shares of the real estate investment trust’s stock after selling 659 shares during the quarter. Larson Financial Group LLC’s holdings in Extra Space Storage were worth $38,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of EXR. Assetmark Inc. boosted its stake in Extra Space Storage by 4.5% during the third quarter. Assetmark Inc. now owns 6,413 shares of the real estate investment trust’s stock worth $1,156,000 after buying an additional 277 shares during the period. Axxcess Wealth Management LLC boosted its stake in Extra Space Storage by 18.9% during the third quarter. Axxcess Wealth Management LLC now owns 1,538 shares of the real estate investment trust’s stock worth $277,000 after buying an additional 244 shares during the period. Ashton Thomas Securities LLC purchased a new position in Extra Space Storage during the third quarter worth $33,000. Aptus Capital Advisors LLC boosted its stake in shares of Extra Space Storage by 5.5% during the third quarter. Aptus Capital Advisors LLC now owns 1,570 shares of the real estate investment trust’s stock valued at $283,000 after purchasing an additional 82 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in shares of Extra Space Storage by 17.8% in the third quarter. Victory Capital Management Inc. now owns 167,257 shares of the real estate investment trust’s stock worth $30,138,000 after purchasing an additional 25,321 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Barclays cut their price target on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a report on Wednesday. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday, March 7th. 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, February 21st. The Goldman Sachs Group restated a “buy” rating on shares of Extra Space Storage in a report on Thursday, March 6th. Finally, Scotiabank cut their price target on shares of Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Extra Space Storage currently has a consensus rating of “Hold” and an average price target of $171.09.

Extra Space Storage Stock Down 3.1 %

NYSE:EXR opened at $144.56 on Friday. Extra Space Storage Inc. has a 1-year low of $131.02 and a 1-year high of $184.87. The company has a 50-day moving average of $153.06 and a 200 day moving average of $162.43. The firm has a market cap of $30.65 billion, a PE ratio of 37.84, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90. 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, topping analysts’ consensus estimates of $1.10 by $0.93. The company had revenue of $821.90 million during 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%. As a group, research analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage’s payout ratio is 160.40%.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, EVP William N. Springer sold 1,220 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $152.66, for a total transaction of $186,245.20. Following the completion of the sale, the executive vice president now directly owns 20,158 shares of the company’s stock, valued at approximately $3,077,320.28. This represents a 5.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $1,110,075.00. Following the sale, the chief executive officer now directly owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. The trade was a 31.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.36% of the company’s stock.

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.