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

Corient Private Wealth LLC raised its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 4.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 10,382 shares of the real estate investment trust’s stock after purchasing an additional 420 shares during the quarter. Corient Private Wealth LLC’s holdings in Extra Space Storage were worth $1,553,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of EXR. Golden State Wealth Management LLC bought a new stake in shares of Extra Space Storage in the 4th quarter valued at $25,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Extra Space Storage in the third quarter worth about $42,000. Continuum Advisory LLC increased its holdings in shares of Extra Space Storage by 68.1% in the third quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 126 shares in the last quarter. Quent Capital LLC raised its position in shares of Extra Space Storage by 89.0% during the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 154 shares during the period. Finally, Asset Planning Inc bought a new position in shares of Extra Space Storage during the 4th quarter valued at about $52,000. 99.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on EXR shares. Barclays lowered their target price on Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Scotiabank cut their price objective on shares of Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 5th. Wells Fargo & Company lowered their target price on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a report on Friday, February 21st. The Goldman Sachs Group restated a “buy” rating on shares of Extra Space Storage in a report on Thursday, March 6th. Finally, StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $171.09.

Extra Space Storage Stock Down 1.0 %

NYSE:EXR opened at $144.56 on Wednesday. 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 capitalization of $30.65 billion, a price-to-earnings ratio of 37.84, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The stock’s 50 day moving average price is $152.65 and its two-hundred day moving average price is $160.54.

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 for the quarter, topping analysts’ consensus estimates of $1.10 by $0.93. The business had revenue of $821.90 million for the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. Equities research analysts expect that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

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

Insider Buying and Selling at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the sale, the chief executive officer now owns 16,690 shares in the company, valued at approximately $2,470,286.90. This represents a 31.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction on Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following the transaction, the executive vice president now directly owns 20,158 shares of the company’s stock, valued at approximately $3,077,320.28. This trade represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,392 shares of company stock worth $1,396,515 over the last 90 days. Company insiders own 1.36% of the company’s stock.

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.