Commonwealth Equity Services LLC Purchases 425 Shares of Extra Space Storage Inc. (NYSE:EXR)

Commonwealth Equity Services LLC grew its position in Extra Space Storage Inc. (NYSE:EXR) by 2.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 21,062 shares of the real estate investment trust’s stock after purchasing an additional 425 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Extra Space Storage were worth $3,151,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pathstone Holdings LLC grew its holdings in Extra Space Storage by 1.1% during the 3rd quarter. Pathstone Holdings LLC now owns 13,027 shares of the real estate investment trust’s stock worth $2,347,000 after acquiring an additional 148 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Extra Space Storage during the third quarter valued at approximately $334,000. Cerity Partners LLC boosted its stake in shares of Extra Space Storage by 39.9% during the third quarter. Cerity Partners LLC now owns 14,426 shares of the real estate investment trust’s stock valued at $2,599,000 after purchasing an additional 4,114 shares in the last quarter. Penserra Capital Management LLC increased its holdings in Extra Space Storage by 11.7% during the third quarter. Penserra Capital Management LLC now owns 13,784 shares of the real estate investment trust’s stock valued at $2,483,000 after buying an additional 1,449 shares during the period. Finally, Fisher Asset Management LLC raised its stake in Extra Space Storage by 0.5% in the third quarter. Fisher Asset Management LLC now owns 59,231 shares of the real estate investment trust’s stock worth $10,673,000 after buying an additional 308 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Wall Street Analyst Weigh In

EXR has been the topic of a number of analyst reports. Scotiabank cut their price target on Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 5th. StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Friday, March 7th. Truist Financial boosted their target price on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Barclays lowered their price target on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. Finally, Wells Fargo & Company reduced their price objective on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $171.09.

Insiders Place Their Bets

In other news, EVP William N. Springer sold 1,220 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $152.66, for a total value of $186,245.20. Following the sale, the executive vice president now owns 20,158 shares in the company, valued at $3,077,320.28. This represents a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph J. Bonner sold 672 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $149.10, for a total value of $100,195.20. Following the sale, the director now directly owns 4,557 shares in the company, valued at approximately $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. In the last ninety days, insiders sold 9,392 shares of company stock valued at $1,396,515. 1.36% of the stock is owned by insiders.

Extra Space Storage Trading Down 1.0 %

NYSE EXR opened at $144.56 on Wednesday. Extra Space Storage Inc. has a 12-month low of $131.02 and a 12-month high of $184.87. The company has a fifty day simple moving average of $152.65 and a two-hundred day simple moving average of $160.54. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The stock has a market cap of $30.65 billion, a P/E ratio of 37.84, a P/E/G ratio of 7.76 and a beta of 0.90.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.93. The company had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. On average, analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.48%. Extra Space Storage’s dividend payout ratio (DPR) is presently 160.40%.

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.