Physician Wealth Advisors Inc. Has $1.66 Million Holdings in Extra Space Storage Inc. (NYSE:EXR)

Physician Wealth Advisors Inc. cut its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 1.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 11,117 shares of the real estate investment trust’s stock after selling 120 shares during the period. Physician Wealth Advisors Inc.’s holdings in Extra Space Storage were worth $1,663,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EXR. Golden State Wealth Management LLC acquired a new stake in shares of Extra Space Storage during the fourth quarter worth $25,000. Harbour Investments Inc. raised its stake in shares of Extra Space Storage by 90.9% in the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 80 shares during the period. Continuum Advisory LLC grew its holdings in shares of Extra Space Storage by 68.1% during the third quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 126 shares in the last quarter. Quent Capital LLC raised its position in Extra Space Storage by 89.0% in the 4th 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 bought a new stake in Extra Space Storage in the 4th quarter valued at approximately $52,000. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Price Performance

NYSE:EXR opened at $145.41 on Friday. The company has a market cap of $30.83 billion, a P/E ratio of 38.07, a P/E/G ratio of 7.76 and a beta of 0.90. The firm’s fifty day moving average price is $152.33 and its two-hundred day moving average price is $160.01. Extra Space Storage Inc. has a one year low of $131.02 and a one 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 posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.93. The firm had revenue of $821.90 million for the quarter, compared to analysts’ expectations of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. Equities analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.46%. Extra Space Storage’s payout ratio is presently 160.40%.

Insider Transactions at Extra Space Storage

In other news, 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 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,392 shares of company stock valued at $1,396,515. 1.36% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of Extra Space Storage in a report on Thursday, March 6th. Scotiabank reduced 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, March 5th. Royal Bank of Canada lowered 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. Truist Financial increased their price target on Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Finally, StockNews.com lowered 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 assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $171.09.

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.