Sequoia Financial Advisors LLC Has $422,000 Stake in Extra Space Storage Inc. (NYSE:EXR)

Sequoia Financial Advisors LLC grew its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 11.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,818 shares of the real estate investment trust’s stock after buying an additional 292 shares during the period. Sequoia Financial Advisors LLC’s holdings in Extra Space Storage were worth $422,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. State Street Corp grew its holdings in shares of Extra Space Storage by 1.7% during the 3rd quarter. State Street Corp now owns 13,390,830 shares of the real estate investment trust’s stock worth $2,412,894,000 after purchasing an additional 227,006 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Extra Space Storage by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,409,330 shares of the real estate investment trust’s stock worth $360,436,000 after buying an additional 43,223 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Extra Space Storage by 5.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,127,067 shares of the real estate investment trust’s stock valued at $318,209,000 after buying an additional 106,608 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Extra Space Storage by 724.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust’s stock valued at $357,100,000 after buying an additional 1,741,320 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of Extra Space Storage by 91.2% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,089,753 shares of the real estate investment trust’s stock worth $163,027,000 after acquiring an additional 519,934 shares during the period. Institutional investors own 99.11% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on EXR. Scotiabank lowered their target price on shares of Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 5th. Barclays reduced their price target on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. Wells Fargo & Company cut their target price on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. Royal Bank of Canada dropped their price target on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Finally, Truist Financial boosted their price objective on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. 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 stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $171.09.

Extra Space Storage Price Performance

Shares of EXR stock opened at $147.85 on Wednesday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 12-month low of $131.02 and a 12-month high of $184.87. The firm has a fifty day moving average of $152.88 and a 200-day moving average of $161.60. The firm has a market capitalization of $31.34 billion, a price-to-earnings ratio of 38.70, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. On average, equities research analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

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

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, EVP William N. Springer sold 1,220 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were 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 $3,077,320.28. The trade was a 5.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Joseph J. Bonner sold 672 shares of Extra Space Storage stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $149.10, for a total value of $100,195.20. Following the completion of the sale, the director now directly owns 4,557 shares in the company, valued at approximately $679,448.70. This represents a 12.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,392 shares of company stock valued at $1,396,515 over the last three months. Company insiders own 1.36% of the company’s stock.

About Extra Space Storage

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.