Independent Advisor Alliance Purchases 571 Shares of Extra Space Storage Inc. (NYSE:EXR)

Independent Advisor Alliance lifted its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 37.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,104 shares of the real estate investment trust’s stock after buying an additional 571 shares during the quarter. Independent Advisor Alliance’s holdings in Extra Space Storage were worth $315,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. State Street Corp increased its stake in shares of Extra Space Storage by 1.7% during the third quarter. State Street Corp now owns 13,390,830 shares of the real estate investment trust’s stock worth $2,412,894,000 after purchasing an additional 227,006 shares during the period. Charles Schwab Investment Management Inc. grew its position in Extra Space Storage by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,409,330 shares of the real estate investment trust’s stock worth $360,436,000 after buying an additional 43,223 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Extra Space Storage by 5.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 2,127,067 shares of the real estate investment trust’s stock worth $318,209,000 after buying an additional 106,608 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Extra Space Storage by 724.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust’s stock worth $357,100,000 after buying an additional 1,741,320 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC grew its position in Extra Space Storage by 91.2% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,089,753 shares of the real estate investment trust’s stock worth $163,027,000 after buying an additional 519,934 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Truist Financial increased their price target 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. Wells Fargo & Company reduced their price target 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. StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Extra Space Storage in a report on Thursday, March 6th. Finally, Barclays reduced their target price on Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. Two 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 an average rating of “Hold” and a consensus price target of $171.09.

Extra Space Storage Trading Up 0.8 %

NYSE EXR opened at $147.85 on Wednesday. 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 twelve month low of $131.02 and a twelve month high of $184.87. The company has a market cap of $31.34 billion, a price-to-earnings ratio of 38.70, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90. The business’s fifty day moving average is $152.88 and its 200 day moving average is $161.60.

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, beating the consensus estimate of $1.10 by $0.93. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company had revenue of $821.90 million for the quarter, compared to the consensus estimate of $707.34 million. As a group, sell-side analysts expect that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.38%. The ex-dividend date is Friday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is 160.40%.

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total transaction 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 $2,470,286.90. This trade represents a 31.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph J. Bonner sold 672 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was 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 of the company’s stock, valued at approximately $679,448.70. This 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 in the last 90 days. 1.36% of the stock is owned by corporate insiders.

Extra Space Storage 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.