Atria Investments Inc Cuts Position in Extra Space Storage Inc. (NYSE:EXR)

Atria Investments Inc lessened its holdings in Extra Space Storage Inc. (NYSE:EXR) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,405 shares of the real estate investment trust’s stock after selling 103 shares during the period. Atria Investments Inc’s holdings in Extra Space Storage were worth $659,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new position in shares of Extra Space Storage in the 4th quarter worth approximately $25,000. Ashton Thomas Securities LLC purchased a new position in Extra Space Storage in the third quarter valued at approximately $33,000. Harvest Fund Management Co. Ltd purchased a new position in Extra Space Storage in the third quarter valued at approximately $42,000. Quent Capital LLC lifted its stake in Extra Space Storage by 89.0% in the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 154 shares during the last quarter. Finally, Asset Planning Inc purchased a new position in Extra Space Storage in the fourth quarter valued at approximately $52,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Activity at Extra Space Storage

In other news, EVP William N. Springer sold 1,220 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following the transaction, the executive vice president now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph J. Bonner sold 672 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $149.10, for a total value of $100,195.20. Following the transaction, the director now directly owns 4,557 shares in the company, valued at $679,448.70. This trade represents a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,392 shares of company stock valued at $1,396,515 over the last 90 days. 1.36% of the stock is owned by insiders.

Analysts Set New Price Targets

EXR has been the topic of several recent research reports. Truist Financial increased their target price on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Barclays dropped their target price on Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a research report on Wednesday. Wells Fargo & Company dropped 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. The Goldman Sachs Group restated a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Finally, StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Two 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 MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $171.09.

Extra Space Storage Stock Up 0.4 %

EXR opened at $145.03 on Friday. The stock has a market cap of $30.75 billion, a PE ratio of 37.97, a P/E/G ratio of 7.76 and a beta of 0.90. 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 52 week low of $131.02 and a 52 week high of $184.87. The business’s fifty day simple moving average is $152.94 and its 200 day simple moving average is $162.21.

Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 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 analysts’ expectations of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. As a group, research analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $1.62 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.47%. Extra Space Storage’s dividend payout ratio is presently 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.