Sigma Planning Corp Decreases Position in Extra Space Storage Inc. (NYSE:EXR)

Sigma Planning Corp lessened its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 4.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,645 shares of the real estate investment trust’s stock after selling 77 shares during the period. Sigma Planning Corp’s holdings in Extra Space Storage were worth $296,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of EXR. Massachusetts Financial Services Co. MA raised its stake in shares of Extra Space Storage by 4.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,549,231 shares of the real estate investment trust’s stock valued at $551,586,000 after acquiring an additional 157,763 shares during the period. Dimensional Fund Advisors LP raised its position in Extra Space Storage by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,127,012 shares of the real estate investment trust’s stock worth $485,973,000 after purchasing an additional 45,717 shares during the period. Diamond Hill Capital Management Inc. raised its position in Extra Space Storage by 7.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,965,638 shares of the real estate investment trust’s stock worth $460,890,000 after purchasing an additional 198,888 shares during the period. Pathway Financial Advisers LLC raised its holdings in shares of Extra Space Storage by 17,832.9% in the third quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust’s stock worth $363,783,000 after buying an additional 2,007,626 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Extra Space Storage by 20.5% in the second quarter. Canada Pension Plan Investment Board now owns 1,877,100 shares of the real estate investment trust’s stock worth $291,720,000 after buying an additional 319,965 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Raymond James increased their price target on Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Bank of America downgraded shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $172.00 to $155.00 in a research note on Monday, August 5th. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Truist Financial raised 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 report on Friday, August 16th. Finally, Evercore ISI decreased their price target on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a research note on Monday, October 14th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $171.50.

Insider Buying and Selling

In other news, EVP William N. Springer sold 2,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total transaction of $350,660.00. Following the sale, the executive vice president now directly owns 11,919 shares of the company’s stock, valued at $2,089,758.27. The trade was a 14.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the sale, the chief executive officer now directly owns 24,190 shares in the company, valued at $4,318,398.80. This trade represents a 23.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,970 shares of company stock worth $3,367,307 in the last ninety days. 1.36% of the stock is owned by insiders.

Extra Space Storage Price Performance

EXR opened at $164.56 on Friday. The business’s 50-day moving average is $171.50 and its two-hundred day moving average is $162.46. Extra Space Storage Inc. has a 1 year low of $125.32 and a 1 year high of $184.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The firm has a market capitalization of $34.88 billion, a PE ratio of 43.08, a price-to-earnings-growth ratio of 8.26 and a beta of 0.87.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The firm had revenue of $824.80 million during the quarter, compared to analysts’ expectations of $826.93 million. During the same period in the previous year, the firm earned $2.02 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.94%. Extra Space Storage’s dividend payout ratio (DPR) is 169.63%.

Extra Space Storage 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.