Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its stake in Extra Space Storage Inc. (NYSE:EXR) by 8.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 266,879 shares of the real estate investment trust’s stock after selling 24,959 shares during the period. Envestnet Asset Management Inc. owned approximately 0.13% of Extra Space Storage worth $39,925,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Golden State Wealth Management LLC purchased a new position in Extra Space Storage during the fourth quarter worth approximately $25,000. Harbour Investments Inc. raised its position in shares of Extra Space Storage by 90.9% in the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 80 shares during the period. Quent Capital LLC boosted its holdings in 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 acquiring an additional 154 shares during the last quarter. Asset Planning Inc purchased a new stake in Extra Space Storage during the fourth quarter valued at about $52,000. Finally, Kestra Investment Management LLC acquired a new stake in Extra Space Storage during the fourth quarter worth about $54,000. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Extra Space Storage

In other news, EVP William N. Springer sold 1,220 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $152.66, for a total value of $186,245.20. Following the sale, the executive vice president now owns 20,158 shares in the company, valued at approximately $3,077,320.28. This represents a 5.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph J. Bonner sold 672 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $149.10, for a total transaction of $100,195.20. Following the transaction, the director now directly owns 4,557 shares in the company, valued at $679,448.70. The trade was a 12.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,392 shares of company stock valued at $1,392,315 over the last ninety days. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Up 1.5 %

Shares of Extra Space Storage stock opened at $133.77 on Friday. Extra Space Storage Inc. has a 1-year low of $121.03 and a 1-year high of $184.87. The company has a market capitalization of $28.39 billion, a PE ratio of 35.02, a P/E/G ratio of 7.76 and a beta of 0.96. 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 business has a 50-day moving average of $148.62 and a 200-day moving average of $156.62.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.93. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The firm had revenue of $821.90 million during the quarter, compared to analyst estimates of $707.34 million. As a group, equities 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 declared a quarterly dividend, which was paid on Monday, March 31st. Investors 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 4.84%. Extra Space Storage’s dividend payout ratio (DPR) is presently 160.40%.

Analysts Set New Price Targets

Several research firms have recently weighed in on EXR. Mizuho started coverage on Extra Space Storage in a research note on Wednesday. They issued an “outperform” rating and a $141.00 price objective on the stock. Wells Fargo & Company reduced 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 report on Friday, February 21st. The Goldman Sachs Group reiterated a “buy” rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Barclays cut their target price on shares of 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. Finally, Scotiabank raised shares of Extra Space Storage from a “sector perform” rating to a “sector outperform” rating and decreased their price target for the stock from $165.00 to $149.00 in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $167.25.

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.