Extra Space Storage Inc. (NYSE:EXR) Stake Reduced by Demars Financial Group LLC

Demars Financial Group LLC cut its holdings in Extra Space Storage Inc. (NYSE:EXR) by 93.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,726 shares of the real estate investment trust’s stock after selling 25,905 shares during the quarter. Demars Financial Group LLC’s holdings in Extra Space Storage were worth $277,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EXR. CWM LLC increased its stake in Extra Space Storage by 262.9% in the 3rd quarter. CWM LLC now owns 4,065 shares of the real estate investment trust’s stock worth $494,000 after purchasing an additional 2,945 shares in the last quarter. AE Wealth Management LLC grew its stake in Extra Space Storage by 112.2% during the 3rd quarter. AE Wealth Management LLC now owns 6,719 shares of the real estate investment trust’s stock valued at $817,000 after acquiring an additional 3,552 shares in the last quarter. Moody National Bank Trust Division purchased a new position in Extra Space Storage during the 3rd quarter valued at about $250,000. DnB Asset Management AS grew its stake in Extra Space Storage by 50.4% during the 3rd quarter. DnB Asset Management AS now owns 34,649 shares of the real estate investment trust’s stock valued at $4,213,000 after acquiring an additional 11,614 shares in the last quarter. Finally, Arkadios Wealth Advisors grew its stake in Extra Space Storage by 189.9% during the 3rd quarter. Arkadios Wealth Advisors now owns 4,691 shares of the real estate investment trust’s stock valued at $570,000 after acquiring an additional 3,073 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

Insider Transactions at Extra Space Storage

In other news, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction 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 owns 94,126 shares in the company, valued at $13,785,693.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction 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 owns 94,126 shares in the company, valued at $13,785,693.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $145.00, for a total value of $195,750.00. Following the completion of the transaction, the executive vice president now owns 37,028 shares in the company, valued at approximately $5,369,060. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,532 shares of company stock worth $514,819. Insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Performance

Shares of NYSE EXR traded down $0.38 during trading hours on Wednesday, reaching $132.90. The stock had a trading volume of 29,337 shares, compared to its average volume of 1,161,461. The business’s fifty day moving average is $142.28 and its two-hundred day moving average is $138.03. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market cap of $28.12 billion, a price-to-earnings ratio of 26.98, a PEG ratio of 3.26 and a beta of 0.74. Extra Space Storage Inc. has a twelve month low of $101.19 and a twelve month high of $164.99.

Extra Space Storage (NYSE:EXR) last announced its quarterly 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 net margin of 31.81% and a return on equity of 8.34%. The company had revenue of $797.77 million during the quarter, compared to the consensus estimate of $778.05 million. During the same quarter last year, the company earned $2.09 earnings per share. The business’s revenue was up 57.4% on a year-over-year basis. As a group, research analysts expect that Extra Space Storage Inc. will post 8.05 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.88%. The ex-dividend date of this dividend was Thursday, March 14th. Extra Space Storage’s payout ratio is presently 131.17%.

Analyst Ratings Changes

Several research firms have weighed in on EXR. Deutsche Bank Aktiengesellschaft began coverage on Extra Space Storage in a research note on Tuesday, January 30th. They set a “hold” rating and a $141.00 target price on the stock. Wells Fargo & Company boosted their price target on Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. TheStreet upgraded Extra Space Storage from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Raymond James reiterated an “outperform” rating and set a $160.00 price target on shares of Extra Space Storage in a report on Thursday, March 28th. 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 given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Extra Space Storage presently has a consensus rating of “Hold” and a consensus price target of $150.17.

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.