Cambridge Investment Research Advisors Inc. Cuts Position in Extra Space Storage Inc. (NYSE:EXR)

Cambridge Investment Research Advisors Inc. reduced its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 6.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,636 shares of the real estate investment trust’s stock after selling 1,067 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Extra Space Storage were worth $2,275,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Massmutual Trust Co. FSB ADV lifted its stake in Extra Space Storage by 19.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust’s stock worth $72,000 after acquiring an additional 76 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of Extra Space Storage by 5.2% during the first quarter. QRG Capital Management Inc. now owns 1,588 shares of the real estate investment trust’s stock worth $233,000 after purchasing an additional 78 shares in the last quarter. Park Avenue Securities LLC boosted its stake in shares of Extra Space Storage by 2.1% in the second quarter. Park Avenue Securities LLC now owns 3,773 shares of the real estate investment trust’s stock valued at $586,000 after purchasing an additional 79 shares during the period. Private Advisor Group LLC grew its holdings in shares of Extra Space Storage by 0.6% in the fourth quarter. Private Advisor Group LLC now owns 21,563 shares of the real estate investment trust’s stock valued at $3,457,000 after purchasing an additional 119 shares in the last quarter. Finally, Spire Wealth Management increased its stake in Extra Space Storage by 7.4% during the 1st quarter. Spire Wealth Management now owns 1,840 shares of the real estate investment trust’s stock worth $271,000 after buying an additional 126 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Extra Space Storage

In other news, EVP Gwyn Goodson Mcneal sold 2,823 shares of Extra Space Storage stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $177.01, for a total transaction of $499,699.23. Following the sale, the executive vice president now owns 32,855 shares in the company, valued at $5,815,663.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Joseph J. Bonner sold 677 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $148.22, for a total value of $100,344.94. Following the completion of the sale, the director now directly owns 5,229 shares of the company’s stock, valued at $775,042.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gwyn Goodson Mcneal sold 2,823 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $177.01, for a total transaction of $499,699.23. Following the transaction, the executive vice president now owns 32,855 shares in the company, valued at $5,815,663.55. The disclosure for this sale can be found here. Insiders sold 13,000 shares of company stock worth $2,095,054 over the last 90 days. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Up 0.8 %

Shares of NYSE:EXR opened at $177.00 on Monday. The firm has a 50 day simple moving average of $163.58 and a 200-day simple moving average of $151.10. Extra Space Storage Inc. has a twelve month low of $101.19 and a twelve month high of $179.23. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $37.51 billion, a PE ratio of 39.42, a P/E/G ratio of 2.58 and a beta of 0.83.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $1.62 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $6.48 dividend on an annualized basis and a yield of 3.66%. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.32%.

Analyst Ratings Changes

EXR has been the subject of several recent research reports. Bank of America cut shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $172.00 to $155.00 in a research report on Monday, August 5th. Evercore ISI lifted their target price on Extra Space Storage from $166.00 to $167.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Wells Fargo & Company upped their price target on Extra Space Storage from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. StockNews.com upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Truist Financial upped their target price on shares of Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Two investment 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $166.58.

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.