Sequoia Financial Advisors LLC Buys 292 Shares of Extra Space Storage Inc. (NYSE:EXR)

Sequoia Financial Advisors LLC raised its stake in Extra Space Storage Inc. (NYSE:EXR) by 11.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,818 shares of the real estate investment trust’s stock after buying an additional 292 shares during the period. Sequoia Financial Advisors LLC’s holdings in Extra Space Storage were worth $422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Extra Space Storage by 724.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust’s stock worth $357,100,000 after acquiring an additional 1,741,320 shares during the period. Manning & Napier Advisors LLC boosted its stake in Extra Space Storage by 1,127.2% in the 4th quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust’s stock valued at $116,985,000 after purchasing an additional 718,266 shares during the period. Cbre Investment Management Listed Real Assets LLC boosted its stake in Extra Space Storage by 91.2% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,089,753 shares of the real estate investment trust’s stock valued at $163,027,000 after purchasing an additional 519,934 shares during the period. Amundi grew its holdings in Extra Space Storage by 82.0% in the 4th quarter. Amundi now owns 828,644 shares of the real estate investment trust’s stock valued at $122,649,000 after buying an additional 373,274 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Extra Space Storage during the 4th quarter worth $46,120,000. 99.11% of the stock is owned by institutional investors.

Insider Transactions at Extra Space Storage

In other news, Director Joseph J. Bonner sold 672 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $149.10, for a total transaction of $100,195.20. Following the completion of the sale, the director now directly owns 4,557 shares in the company, valued at $679,448.70. This represents a 12.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 16,690 shares in the company, valued at approximately $2,470,286.90. The trade was a 31.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,392 shares of company stock worth $1,396,515. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Price Performance

Shares of EXR opened at $147.85 on Wednesday. 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 $31.34 billion, a PE ratio of 38.70, a PEG ratio of 7.76 and a beta of 0.90. Extra Space Storage Inc. has a 12-month low of $131.02 and a 12-month high of $184.87. The business has a 50-day simple moving average of $152.88 and a two-hundred day simple moving average of $161.60.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.93. The company had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. Analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage’s payout ratio is currently 160.40%.

Analyst Ratings Changes

EXR has been the topic of a number of analyst reports. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Wells Fargo & Company reduced their price target on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. Scotiabank dropped their price objective on Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating for the company in a report on Wednesday, March 5th. Truist Financial increased their target price on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Finally, Royal Bank of Canada dropped their price target on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Extra Space Storage presently has an average rating of “Hold” and an average target price of $171.09.

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.