Envestnet Portfolio Solutions Inc. Increases Holdings in Extra Space Storage Inc. (NYSE:EXR)

Envestnet Portfolio Solutions Inc. grew its holdings in Extra Space Storage Inc. (NYSE:EXR) by 33.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 12,555 shares of the real estate investment trust’s stock after acquiring an additional 3,117 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Extra Space Storage were worth $1,878,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in EXR. OneDigital Investment Advisors LLC purchased a new position in shares of Extra Space Storage in the third quarter valued at about $210,000. Empowered Funds LLC lifted its position in shares of Extra Space Storage by 7.2% in the third quarter. Empowered Funds LLC now owns 3,928 shares of the real estate investment trust’s stock valued at $708,000 after acquiring an additional 264 shares in the last quarter. Pathstone Holdings LLC lifted its position in shares of Extra Space Storage by 1.1% in the third quarter. Pathstone Holdings LLC now owns 13,027 shares of the real estate investment trust’s stock valued at $2,347,000 after acquiring an additional 148 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Extra Space Storage in the third quarter valued at about $1,144,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Extra Space Storage in the third quarter valued at about $334,000. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Joseph J. Bonner sold 672 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $149.10, for a total transaction of $100,195.20. Following the transaction, the director now owns 4,557 shares of the company’s stock, valued at approximately $679,448.70. This represents a 12.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP William N. Springer sold 1,220 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $152.66, for a total value of $186,245.20. Following the transaction, the executive vice president now directly owns 20,158 shares in the company, valued at approximately $3,077,320.28. This represents a 5.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,392 shares of company stock valued at $1,396,515. 1.36% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on EXR shares. Royal Bank of Canada decreased their target price on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Scotiabank decreased their target price on Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 5th. The Goldman Sachs Group reiterated a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Wells Fargo & Company decreased their target price on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. Finally, StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $171.09.

Extra Space Storage Trading Down 0.8 %

Shares of EXR stock opened at $145.67 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 debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The stock’s 50 day simple moving average is $152.82 and its two-hundred day simple moving average is $161.38. The company has a market cap of $30.88 billion, a PE ratio of 38.13, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.93. The business had revenue of $821.90 million for the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. Research analysts predict that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.45%. Extra Space Storage’s dividend payout ratio is 160.40%.

About Extra Space Storage

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.