Guggenheim Capital LLC Cuts Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Guggenheim Capital LLC cut its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 47.8% in the 4th quarter, HoldingsChannel reports. The firm owned 69,842 shares of the real estate investment trust’s stock after selling 63,853 shares during the quarter. Guggenheim Capital LLC’s holdings in Extra Space Storage were worth $10,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Golden State Wealth Management LLC bought a new position in Extra Space Storage during the fourth quarter valued at about $25,000. Harbour Investments Inc. grew 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 valued at $25,000 after acquiring an additional 80 shares during the period. Quent Capital LLC increased its stake in shares of Extra Space Storage by 89.0% during 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. Asset Planning Inc bought a new stake in shares of Extra Space Storage in the 4th quarter worth approximately $52,000. Finally, Kestra Investment Management LLC purchased a new position in Extra Space Storage in the fourth quarter valued at approximately $54,000. 99.11% of the stock is currently owned by institutional investors.

Insider Transactions at Extra Space Storage

In related news, EVP William N. Springer sold 1,220 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $152.66, for a total value of $186,245.20. Following the transaction, the executive vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total value of $1,105,875.00. Following the sale, the chief executive officer now owns 9,190 shares in the company, valued at $1,355,065.50. The trade was a 44.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,392 shares of company stock valued at $1,392,315 in the last quarter. Insiders own 1.36% of the company’s stock.

Extra Space Storage Trading Down 0.0 %

Extra Space Storage stock opened at $138.21 on Thursday. The stock has a market cap of $29.33 billion, a P/E ratio of 36.18, a PEG ratio of 7.76 and a beta of 0.96. Extra Space Storage Inc. has a fifty-two week low of $121.03 and a fifty-two week high of $184.87. The firm’s fifty day moving average price is $147.56 and its 200-day moving average price is $155.95. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.93. The business had revenue of $821.90 million for the quarter, compared to analyst estimates of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. Equities research analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $1.62 dividend. The ex-dividend date was Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a yield of 4.69%. Extra Space Storage’s dividend payout ratio is presently 160.40%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on EXR shares. Barclays decreased their target price on Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a research report on Wednesday, March 12th. Wells Fargo & Company lowered their price objective on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Friday, February 21st. Mizuho initiated coverage on shares of Extra Space Storage in a research report on Wednesday, April 9th. They set an “outperform” rating and a $141.00 target price for the company. The Goldman Sachs Group reissued a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Finally, Scotiabank raised shares of Extra Space Storage from a “sector perform” rating to a “sector outperform” rating and cut their price objective for the stock from $165.00 to $149.00 in a report on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $167.25.

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.