Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Diversify Wealth Management LLC

Diversify Wealth Management LLC lessened its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 2.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 21,234 shares of the real estate investment trust’s stock after selling 426 shares during the quarter. Diversify Wealth Management LLC’s holdings in Extra Space Storage were worth $3,117,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Gilman Hill Asset Management LLC lifted its holdings in Extra Space Storage by 13.3% in the fourth quarter. Gilman Hill Asset Management LLC now owns 1,492 shares of the real estate investment trust’s stock worth $223,000 after purchasing an additional 175 shares during the period. Liberty One Investment Management LLC lifted its stake in shares of Extra Space Storage by 8.1% in the 4th quarter. Liberty One Investment Management LLC now owns 28,387 shares of the real estate investment trust’s stock worth $4,247,000 after acquiring an additional 2,118 shares during the period. Ameritas Advisory Services LLC bought a new position in shares of Extra Space Storage in the fourth quarter valued at approximately $717,000. Arkadios Wealth Advisors increased its stake in shares of Extra Space Storage by 9.5% during the fourth quarter. Arkadios Wealth Advisors now owns 6,182 shares of the real estate investment trust’s stock valued at $925,000 after acquiring an additional 534 shares during the period. Finally, Merit Financial Group LLC raised its holdings in Extra Space Storage by 163.0% during the fourth quarter. Merit Financial Group LLC now owns 3,124 shares of the real estate investment trust’s stock worth $467,000 after purchasing an additional 1,936 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the transaction, the chief executive officer now owns 16,690 shares in the company, valued at $2,470,286.90. This represents a 31.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Diane Olmstead sold 3,081 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $164.56, for a total transaction of $507,009.36. Following the completion of the sale, the director now owns 5,877 shares of the company’s stock, valued at $967,119.12. This represents a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Evercore ISI dropped their price objective on 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. Scotiabank upgraded shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective for the company in a research report on Friday, January 10th. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Truist Financial lifted their price target on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $175.00 price objective on shares of Extra Space Storage in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $171.25.

Extra Space Storage Stock Performance

Shares of Extra Space Storage stock opened at $150.75 on Monday. Extra Space Storage Inc. has a 12 month low of $131.02 and a 12 month high of $184.87. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. The stock has a market cap of $31.96 billion, a PE ratio of 39.46, a price-to-earnings-growth ratio of 7.18 and a beta of 0.91. The business has a fifty day simple moving average of $157.24 and a 200-day simple moving average of $164.98.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). The business had revenue of $824.80 million for the quarter, compared to analyst estimates of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.02 earnings per share. On average, sell-side analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date was Monday, December 16th. Extra Space Storage’s dividend payout ratio (DPR) is presently 169.63%.

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.