Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its holdings in Extra Space Storage Inc. (NYSE:EXR) by 8.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 266,879 shares of the real estate investment trust’s stock after selling 24,959 shares during the period. Envestnet Asset Management Inc.’s holdings in Extra Space Storage were worth $39,925,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Golden State Wealth Management LLC bought a new position in Extra Space Storage in the fourth quarter worth about $25,000. Harbour Investments Inc. raised its position in shares of Extra Space Storage by 90.9% during the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 80 shares during the period. Continuum Advisory LLC raised its position in shares of Extra Space Storage by 68.1% during the 3rd quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 126 shares during the period. Quent Capital LLC lifted its holdings in shares of Extra Space Storage by 89.0% in the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 154 shares during the last quarter. Finally, Asset Planning Inc acquired a new position in Extra Space Storage during the 4th quarter valued at approximately $52,000. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Stock Up 1.5 %

Shares of EXR stock opened at $133.77 on Friday. Extra Space Storage Inc. has a 1 year low of $121.03 and a 1 year high of $184.87. 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 business’s fifty day moving average is $148.62 and its 200-day moving average is $156.62. The stock has a market cap of $28.39 billion, a PE ratio of 35.02, a price-to-earnings-growth ratio of 7.76 and a beta of 0.96.

Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.93. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The firm had revenue of $821.90 million for the quarter, compared to analyst estimates of $707.34 million. Equities analysts expect 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 announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.84%. The ex-dividend date was Friday, March 14th. Extra Space Storage’s dividend payout ratio is presently 160.40%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on EXR shares. Wells Fargo & Company dropped their target price 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. Royal Bank of Canada dropped their price objective on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. The Goldman Sachs Group reissued a “buy” rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Barclays dropped their price target on shares of Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 12th. Finally, Scotiabank raised Extra Space Storage from a “sector perform” rating to a “sector outperform” rating and cut their price target for the company from $165.00 to $149.00 in a report on Wednesday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $167.25.

Insider Buying and Selling

In other news, EVP William N. Springer sold 1,220 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $152.66, for a total transaction of $186,245.20. Following the completion of the sale, the executive vice president now directly owns 20,158 shares of the company’s stock, valued at $3,077,320.28. This represents a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $100,195.20. Following the completion of the transaction, the director now owns 4,557 shares of the company’s stock, valued at $679,448.70. This trade represents a 12.85 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,392 shares of company stock worth $1,392,315. 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.