Extra Space Storage Inc. (NYSE:EXR) Stock Position Decreased by Values First Advisors Inc.

Values First Advisors Inc. cut its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 24.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,640 shares of the real estate investment trust’s stock after selling 1,157 shares during the quarter. Values First Advisors Inc.’s holdings in Extra Space Storage were worth $584,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of EXR. Private Advisor Group LLC boosted its stake in shares of Extra Space Storage by 5.6% during the 1st quarter. Private Advisor Group LLC now owns 1,404 shares of the real estate investment trust’s stock worth $289,000 after acquiring an additional 74 shares in the last quarter. Blair William & Co. IL lifted its holdings in shares of Extra Space Storage by 16.5% in the first quarter. Blair William & Co. IL now owns 1,502 shares of the real estate investment trust’s stock valued at $309,000 after purchasing an additional 213 shares in the last quarter. Prudential PLC purchased a new stake in shares of Extra Space Storage in the first quarter valued at $625,000. Cetera Investment Advisers lifted its holdings in shares of Extra Space Storage by 8.2% in the first quarter. Cetera Investment Advisers now owns 2,522 shares of the real estate investment trust’s stock valued at $519,000 after purchasing an additional 192 shares in the last quarter. Finally, Dakota Wealth Management purchased a new stake in shares of Extra Space Storage in the first quarter valued at $332,000. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Stock Performance

EXR stock traded up $0.18 during trading on Thursday, reaching $146.93. 1,214,485 shares of the stock were exchanged, compared to its average volume of 1,204,188. Extra Space Storage Inc. has a twelve month low of $101.19 and a twelve month high of $165.85. The company has a market capitalization of $31.09 billion, a P/E ratio of 29.74, a price-to-earnings-growth ratio of 3.45 and a beta of 0.74. The stock has a 50 day simple moving average of $143.49 and a 200-day simple moving average of $135.48. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.71.

Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.01). Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. The firm had revenue of $797.77 million for the quarter, compared to analyst estimates of $778.05 million. During the same period last year, the business earned $2.09 earnings per share. The firm’s quarterly revenue was up 57.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Extra Space Storage Inc. will post 8.04 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date of this dividend is Thursday, March 14th. Extra Space Storage’s payout ratio is 131.17%.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, CMO Samrat Sondhi sold 2,048 shares of Extra Space Storage stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $146.46, for a total transaction of $299,950.08. Following the sale, the chief marketing officer now directly owns 94,126 shares of the company’s stock, valued at $13,785,693.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CMO Samrat Sondhi sold 2,048 shares of Extra Space Storage stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $146.46, for a total value of $299,950.08. Following the completion of the transaction, the chief marketing officer now owns 94,126 shares in the company, valued at $13,785,693.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of Extra Space Storage stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the transaction, the executive vice president now owns 37,028 shares of the company’s stock, valued at approximately $5,369,060. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,532 shares of company stock valued at $514,819. 1.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on EXR shares. Truist Financial increased their price objective on Extra Space Storage from $138.00 to $152.00 and gave the stock a “hold” rating in a report on Thursday, December 28th. Barclays started coverage on Extra Space Storage in a report on Wednesday. They set an “overweight” rating and a $157.00 price objective for the company. The Goldman Sachs Group increased their price objective 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 report on Thursday, January 11th. Finally, StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, March 2nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $151.08.

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.