LPL Financial LLC Raises Position in Extra Space Storage Inc. (NYSE:EXR)

LPL Financial LLC increased its holdings in Extra Space Storage Inc. (NYSE:EXR) by 6.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 110,870 shares of the real estate investment trust’s stock after purchasing an additional 6,305 shares during the period. LPL Financial LLC’s holdings in Extra Space Storage were worth $16,586,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. acquired a new position in Extra Space Storage during the third quarter worth approximately $257,000. Glenmede Trust Co. NA increased its holdings in shares of Extra Space Storage by 5.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 5,578 shares of the real estate investment trust’s stock worth $1,005,000 after buying an additional 266 shares during the last quarter. PEAK6 Investments LLC raised its position in shares of Extra Space Storage by 16.2% in the 3rd quarter. PEAK6 Investments LLC now owns 2,298 shares of the real estate investment trust’s stock worth $414,000 after buying an additional 320 shares during the period. Walleye Capital LLC boosted its holdings in Extra Space Storage by 174.8% in the third quarter. Walleye Capital LLC now owns 1,280 shares of the real estate investment trust’s stock valued at $231,000 after acquiring an additional 2,992 shares during the last quarter. Finally, Erste Asset Management GmbH purchased a new stake in Extra Space Storage during the third quarter valued at about $1,631,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Extra Space Storage

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

Extra Space Storage Trading Down 0.5 %

Shares of EXR opened at $147.81 on Wednesday. Extra Space Storage Inc. has a one year low of $131.02 and a one year high of $184.87. The stock has a 50-day moving average price of $152.21 and a 200 day moving average price of $159.48. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The company has a market capitalization of $31.34 billion, a P/E ratio of 38.69, a P/E/G ratio of 7.76 and a beta of 0.90.

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

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $1.62 dividend. The ex-dividend date was Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.38%. Extra Space Storage’s dividend payout ratio (DPR) is presently 160.40%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Barclays reduced their price objective on Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 12th. Scotiabank reduced their price target 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. The Goldman Sachs Group reissued a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday, March 7th. Finally, Wells Fargo & Company lowered their price target 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. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Extra Space Storage has an average rating of “Hold” and an average price target of $171.09.

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.