Kestra Private Wealth Services LLC Invests $297,000 in Extra Space Storage Inc. (NYSE:EXR)

Kestra Private Wealth Services LLC bought a new stake in shares of Extra Space Storage Inc. (NYSE:EXR) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,855 shares of the real estate investment trust’s stock, valued at approximately $297,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Extra Space Storage by 17.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,087 shares of the real estate investment trust’s stock valued at $18,933,000 after purchasing an additional 17,163 shares during the period. NewEdge Wealth LLC purchased a new stake in Extra Space Storage during the 3rd quarter worth approximately $341,000. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Extra Space Storage by 110.8% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,914 shares of the real estate investment trust’s stock valued at $1,448,000 after acquiring an additional 6,262 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Extra Space Storage by 8.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 2,724,293 shares of the real estate investment trust’s stock valued at $436,786,000 after acquiring an additional 211,395 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Extra Space Storage by 55.7% in the third quarter. Vanguard Group Inc. now owns 33,686,341 shares of the real estate investment trust’s stock worth $4,095,585,000 after acquiring an additional 12,055,172 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analysts Set New Price Targets

EXR has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Extra Space Storage in a report on Tuesday, January 30th. They issued a “hold” rating and a $141.00 price objective on the stock. Evercore ISI lowered their price target on shares of Extra Space Storage from $145.00 to $139.00 in a research report on Wednesday, May 1st. Raymond James reiterated an “outperform” rating and issued a $160.00 price objective on shares of Extra Space Storage in a report on Thursday, March 28th. Scotiabank assumed coverage on Extra Space Storage in a report on Tuesday, February 13th. They set a “sector underperform” rating and a $131.00 target price on the stock. Finally, Wells Fargo & Company increased their price target on Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Extra Space Storage has a consensus rating of “Hold” and a consensus target price of $149.67.

Extra Space Storage Stock Down 1.6 %

Shares of NYSE:EXR opened at $140.95 on Thursday. Extra Space Storage Inc. has a 12-month low of $101.19 and a 12-month high of $164.99. The company has a market capitalization of $29.84 billion, a price-to-earnings ratio of 31.39, a PEG ratio of 3.48 and a beta of 0.76. The business has a 50-day moving average price of $141.74 and a 200 day moving average price of $139.46. The company has a current ratio of 0.15, a quick ratio of 0.30 and a debt-to-equity ratio of 0.73.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($1.01). Extra Space Storage had a net margin of 29.10% and a return on equity of 6.76%. The company had revenue of $797.77 million during the quarter, compared to analyst estimates of $778.05 million. During the same quarter last year, the business posted $2.09 EPS. The firm’s revenue for the quarter was up 57.4% on a year-over-year basis. Sell-side analysts expect that Extra Space Storage Inc. will post 8.05 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.60%. The ex-dividend date was Thursday, March 14th. Extra Space Storage’s payout ratio is currently 144.32%.

Insiders Place Their Bets

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total value of $195,750.00. Following the completion of the transaction, the executive vice president now owns 37,028 shares in the company, valued at $5,369,060. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of Extra Space Storage stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total value of $195,750.00. Following the completion of the transaction, the executive vice president now owns 37,028 shares in the company, valued at $5,369,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $146.46, for a total transaction of $299,950.08. Following the completion of the sale, the chief marketing officer now directly owns 94,126 shares in the company, valued at $13,785,693.96. The disclosure for this sale can be found here. Insiders have sold a total of 3,532 shares of company stock worth $514,819 in the last ninety days. 1.36% of the stock is owned by corporate insiders.

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.