Capital Analysts LLC Sells 3,119 Shares of Extra Space Storage Inc. (NYSE:EXR)

Capital Analysts LLC trimmed its position in Extra Space Storage Inc. (NYSE:EXR) by 89.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 369 shares of the real estate investment trust’s stock after selling 3,119 shares during the period. Capital Analysts LLC’s holdings in Extra Space Storage were worth $59,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Extra Space Storage by 55.7% in the third quarter. Vanguard Group Inc. now owns 33,686,341 shares of the real estate investment trust’s stock valued at $4,095,585,000 after purchasing an additional 12,055,172 shares in the last quarter. State Street Corp raised its holdings in Extra Space Storage by 6.0% during the first quarter. State Street Corp now owns 9,397,883 shares of the real estate investment trust’s stock worth $1,531,197,000 after acquiring an additional 533,145 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Extra Space Storage by 22.1% during the third quarter. Principal Financial Group Inc. now owns 6,505,834 shares of the real estate investment trust’s stock worth $790,975,000 after acquiring an additional 1,178,760 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Extra Space Storage by 599.8% during the third quarter. JPMorgan Chase & Co. now owns 3,345,787 shares of the real estate investment trust’s stock worth $406,781,000 after acquiring an additional 2,867,657 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Extra Space Storage by 1.5% during the first quarter. Geode Capital Management LLC now owns 3,183,153 shares of the real estate investment trust’s stock worth $517,605,000 after acquiring an additional 47,305 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $132.52 on Friday. Extra Space Storage Inc. has a 12 month low of $101.19 and a 12 month high of $164.99. The stock’s 50 day moving average is $142.57 and its 200-day moving average is $137.52. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $28.04 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 3.34 and a beta of 0.74.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 EPS for the quarter, missing the consensus estimate of $2.03 by ($1.01). Extra Space Storage had a net margin of 31.81% and a return on equity of 8.34%. The firm had revenue of $797.77 million during the quarter, compared to analyst estimates of $778.05 million. During the same period in the previous year, the company posted $2.09 EPS. Extra Space Storage’s revenue for the quarter was up 57.4% compared to the same quarter last year. Equities research analysts expect that Extra Space Storage Inc. will post 8.05 EPS for the current year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date was Thursday, March 14th. Extra Space Storage’s dividend payout ratio is currently 131.17%.

Insider Buying and Selling

In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $145.00, for a total transaction of $195,750.00. Following the sale, the executive vice president now owns 37,028 shares of the company’s stock, valued at $5,369,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $145.00, for a total transaction of $195,750.00. Following the sale, the executive vice president now owns 37,028 shares of the company’s stock, valued at $5,369,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $146.46, for a total value of $299,950.08. Following the sale, the chief marketing officer now directly owns 94,126 shares in the company, valued at approximately $13,785,693.96. The disclosure for this sale can be found here. Insiders have sold 3,532 shares of company stock valued at $514,819 over the last 90 days. 1.36% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on EXR shares. Scotiabank started coverage on Extra Space Storage in a report on Tuesday, February 13th. They set a “sector underperform” rating and a $131.00 target price on the stock. Deutsche Bank Aktiengesellschaft started coverage on Extra Space Storage in a report on Tuesday, January 30th. They set a “hold” rating and a $141.00 target price on the stock. The Goldman Sachs Group upped their target price on Extra Space Storage from $168.00 to $187.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. TheStreet upgraded Extra Space Storage from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Finally, Barclays started coverage on Extra Space Storage in a research note on Wednesday, March 27th. They issued an “overweight” rating and a $157.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $150.17.

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.