Corient Private Wealth LLC Has $1.55 Million Stake in Extra Space Storage Inc. (NYSE:EXR)

Corient Private Wealth LLC lifted its holdings in Extra Space Storage Inc. (NYSE:EXR) by 4.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,382 shares of the real estate investment trust’s stock after purchasing an additional 420 shares during the period. Corient Private Wealth LLC’s holdings in Extra Space Storage were worth $1,553,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Golden State Wealth Management LLC acquired a new position in Extra Space Storage during the 4th quarter valued at $25,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Extra Space Storage during the third quarter valued at about $42,000. Quent Capital LLC lifted its stake in shares of Extra Space Storage by 89.0% in the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 154 shares during the period. Asset Planning Inc acquired a new stake in Extra Space Storage during the fourth quarter worth about $52,000. Finally, Kestra Investment Management LLC bought a new position in Extra Space Storage during the fourth quarter valued at about $54,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Wall Street Analyst Weigh In

EXR has been the subject of a number of research reports. StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Wells Fargo & Company decreased their price target on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Friday, February 21st. Truist Financial boosted their price target on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a report on Thursday, December 5th. The Goldman Sachs Group reiterated a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Finally, Scotiabank dropped their price target on shares of Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 5th. Two equities research 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $171.09.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total value of $1,110,075.00. Following the transaction, the chief executive officer now owns 16,690 shares of the company’s stock, valued at approximately $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 through this hyperlink. Also, Director Joseph J. Bonner sold 672 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $149.10, for a total transaction of $100,195.20. Following the sale, the director now directly owns 4,557 shares of the company’s stock, 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. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Performance

Shares of NYSE:EXR opened at $144.56 on Wednesday. The business has a fifty day moving average of $152.65 and a 200-day moving average of $160.54. 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 Inc. has a twelve month low of $131.02 and a twelve month high of $184.87. The firm has a market cap of $30.65 billion, a PE ratio of 37.84, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90.

Extra Space Storage (NYSE:EXR) last posted 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 net margin of 25.35% and a return on equity of 5.51%. The firm had revenue of $821.90 million during the quarter, compared to analysts’ expectations of $707.34 million. On average, equities research analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

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

About Extra Space Storage

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.