Hennion & Walsh Asset Management Inc. Trims Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Hennion & Walsh Asset Management Inc. lessened its stake in Extra Space Storage Inc. (NYSE:EXR) by 4.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 3,793 shares of the real estate investment trust’s stock after selling 178 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Extra Space Storage were worth $558,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. EdgeRock Capital LLC acquired a new position in Extra Space Storage in the fourth quarter valued at approximately $26,000. Creekmur Asset Management LLC purchased a new position in shares of Extra Space Storage during the 4th quarter valued at approximately $26,000. Anchor Investment Management LLC acquired a new position in shares of Extra Space Storage in the 4th quarter valued at $35,000. Bruce G. Allen Investments LLC purchased a new stake in Extra Space Storage during the fourth quarter worth $41,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its position in Extra Space Storage by 200.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 300 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, Director Joseph J. Bonner sold 677 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $148.22, for a total value of $100,344.94. Following the transaction, the director now directly owns 5,229 shares of the company’s stock, valued at approximately $775,042.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.36% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

EXR has been the subject of a number of analyst reports. Barclays upped their price objective on shares of Extra Space Storage from $157.00 to $158.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Wells Fargo & Company increased their price target on Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Raymond James reissued an “outperform” rating and issued a $160.00 price objective on shares of Extra Space Storage in a report on Thursday, March 28th. Citigroup reduced their target price on Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Finally, Evercore ISI dropped their price target on shares of Extra Space Storage from $145.00 to $139.00 in a research note on Wednesday, May 1st. 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’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $151.83.

Extra Space Storage Trading Up 1.2 %

Shares of EXR opened at $153.72 on Wednesday. Extra Space Storage Inc. has a 52-week low of $101.19 and a 52-week high of $164.99. The stock has a market cap of $32.55 billion, a PE ratio of 34.24, a price-to-earnings-growth ratio of 3.73 and a beta of 0.83. The firm’s fifty day moving average is $147.87 and its two-hundred day moving average is $146.88. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.73.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $1.62 per share. The ex-dividend date was Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.22%. Extra Space Storage’s payout ratio is presently 144.32%.

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.