Aptus Capital Advisors LLC Increases Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Aptus Capital Advisors LLC increased its position in Extra Space Storage Inc. (NYSE:EXR) by 5.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,570 shares of the real estate investment trust’s stock after purchasing an additional 82 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Extra Space Storage were worth $283,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in EXR. Pathway Financial Advisers LLC raised its holdings in shares of Extra Space Storage by 17,832.9% during the third quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust’s stock worth $363,783,000 after purchasing an additional 2,007,626 shares during the period. Boston Partners acquired a new stake in shares of Extra Space Storage in the 1st quarter worth about $130,554,000. Janus Henderson Group PLC increased its holdings in shares of Extra Space Storage by 2,244.2% in the 1st quarter. Janus Henderson Group PLC now owns 597,729 shares of the real estate investment trust’s stock worth $87,824,000 after acquiring an additional 572,231 shares during the period. Canada Pension Plan Investment Board increased its holdings in shares of Extra Space Storage by 43.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,557,135 shares of the real estate investment trust’s stock worth $228,899,000 after acquiring an additional 473,559 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Extra Space Storage by 543.5% in the 2nd quarter. American Century Companies Inc. now owns 397,170 shares of the real estate investment trust’s stock worth $61,724,000 after acquiring an additional 335,447 shares during the period. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on EXR. Evercore ISI lowered their target price on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a research note on Monday, October 14th. KeyCorp raised their price objective on shares of Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Truist Financial raised their price objective on shares of Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Bank of America lowered shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $172.00 to $155.00 in a research report on Monday, August 5th. Finally, Raymond James raised their target price on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $171.50.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $164.56 on Friday. Extra Space Storage Inc. has a one year low of $125.32 and a one year high of $184.87. 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 stock’s 50 day moving average is $171.50 and its 200 day moving average is $162.46. The firm has a market cap of $34.88 billion, a P/E ratio of 43.08, a P/E/G ratio of 8.26 and a beta of 0.87.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). The business had revenue of $824.80 million during the quarter, compared to the consensus estimate 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 for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.02 EPS. As a group, research analysts expect that Extra Space Storage Inc. will post 8.09 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.94%. Extra Space Storage’s payout ratio is currently 169.63%.

Insider Buying and Selling at Extra Space Storage

In other news, EVP Gwyn Goodson Mcneal sold 2,823 shares of Extra Space Storage stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $177.01, for a total value of $499,699.23. Following the sale, the executive vice president now directly owns 32,855 shares in the company, valued at approximately $5,815,663.55. This trade represents a 7.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William N. Springer sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total value of $350,660.00. Following the completion of the transaction, the executive vice president now owns 11,919 shares of the company’s stock, valued at approximately $2,089,758.27. The trade was a 14.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,970 shares of company stock valued at $3,367,307 in the last 90 days. Corporate insiders own 1.36% of the company’s stock.

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.