OneDigital Investment Advisors LLC Buys Shares of 1,166 Extra Space Storage Inc. (NYSE:EXR)

OneDigital Investment Advisors LLC acquired a new stake in shares of Extra Space Storage Inc. (NYSE:EXR) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 1,166 shares of the real estate investment trust’s stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. EdgeRock Capital LLC bought a new position in Extra Space Storage in the second quarter worth approximately $25,000. Centerpoint Advisors LLC purchased a new position in shares of Extra Space Storage in the second quarter worth $27,000. Ashton Thomas Securities LLC bought a new position in shares of Extra Space Storage during the 3rd quarter valued at about $33,000. Blue Trust Inc. increased its stake in Extra Space Storage by 540.5% in the 2nd quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 200 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in Extra Space Storage by 2,760.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 276 shares during the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, Director Kenneth M. Woolley sold 6,647 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $177.23, for a total value of $1,178,047.81. Following the completion of the transaction, the director now owns 404,306 shares of the company’s stock, valued at $71,655,152.38. This trade represents a 1.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total value of $1,338,900.00. Following the transaction, the chief executive officer now directly owns 24,190 shares of the company’s stock, valued at $4,318,398.80. The trade was a 23.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,228 shares of company stock worth $3,374,617 in the last ninety days. 1.36% of the stock is owned by insiders.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $168.14 on Friday. The company’s fifty day moving average price is $170.64 and its 200 day moving average price is $163.21. Extra Space Storage Inc. has a 1 year low of $125.32 and a 1 year high of $184.87. The stock has a market capitalization of $35.64 billion, a P/E ratio of 43.80, a P/E/G ratio of 8.34 and a beta of 0.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing the consensus estimate of $2.03 by ($1.12). The firm had revenue of $824.80 million during the quarter, compared to analyst estimates of $826.93 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.02 earnings per share. As a group, equities research analysts anticipate that Extra Space Storage Inc. will post 8.09 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $6.48 annualized dividend and a dividend yield of 3.85%. Extra Space Storage’s dividend payout ratio is presently 169.63%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Wells Fargo & Company restated an “equal weight” rating and issued a $175.00 price target on shares of Extra Space Storage in a report on Monday, October 21st. Jefferies Financial Group upgraded Extra Space Storage from a “hold” rating to a “buy” rating and lifted their target price for the company from $162.00 to $204.00 in a research note on Wednesday, September 18th. Bank of America cut Extra Space Storage from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $172.00 to $155.00 in a research report on Monday, August 5th. Finally, KeyCorp raised their price target on shares of Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Extra Space Storage presently has a consensus rating of “Hold” and a consensus target price of $171.50.

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.