Axxcess Wealth Management LLC Has $277,000 Stake in Extra Space Storage Inc. (NYSE:EXR)

Axxcess Wealth Management LLC boosted its position in Extra Space Storage Inc. (NYSE:EXR) by 18.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,538 shares of the real estate investment trust’s stock after purchasing an additional 244 shares during the period. Axxcess Wealth Management LLC’s holdings in Extra Space Storage were worth $277,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EdgeRock Capital LLC bought a new stake in Extra Space Storage in the second quarter valued at $25,000. Centerpoint Advisors LLC bought a new stake in Extra Space Storage in the second quarter valued at $27,000. Blue Trust Inc. increased its stake in Extra Space Storage by 540.5% in the second quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 200 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in Extra Space Storage by 2,760.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 276 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its stake in Extra Space Storage by 19.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 76 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Jefferies Financial Group raised shares of Extra Space Storage from a “hold” rating to a “buy” rating and boosted their target price for the stock from $162.00 to $204.00 in a research report on Wednesday, September 18th. KeyCorp boosted their target price on shares of Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Truist Financial boosted their target price on shares of Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Wells Fargo & Company reissued an “equal weight” rating and set a $175.00 target price on shares of Extra Space Storage in a research report on Monday, October 21st. Finally, Raymond James boosted their target price on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $171.50.

Extra Space Storage Trading Down 0.4 %

Shares of EXR stock opened at $163.45 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The company has a market capitalization of $34.65 billion, a price-to-earnings ratio of 42.79, a PEG ratio of 6.11 and a beta of 0.87. Extra Space Storage Inc. has a 52-week low of $125.32 and a 52-week high of $184.87. The company has a 50-day simple moving average of $171.88 and a two-hundred day simple moving average of $162.26.

Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). The company had revenue of $824.80 million during the quarter, compared to analysts’ expectations of $826.93 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.02 earnings per share. Research analysts anticipate that Extra Space Storage Inc. will post 8.09 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend was Monday, September 16th. Extra Space Storage’s payout ratio is 169.63%.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total value of $1,338,900.00. Following the transaction, the chief executive officer now directly owns 24,190 shares in the company, valued at $4,318,398.80. The trade was a 23.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William N. Springer sold 2,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total transaction of $350,660.00. Following the completion of the transaction, the executive vice president now owns 11,919 shares in the company, valued at approximately $2,089,758.27. The trade was a 14.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,970 shares of company stock worth $3,367,307 over the last three months. 1.36% of the stock is currently owned by insiders.

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.