Foster & Motley Inc. Cuts Stock Holdings in Extra Space Storage Inc. (NYSE:EXR)

Foster & Motley Inc. lessened its holdings in Extra Space Storage Inc. (NYSE:EXR) by 35.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,350 shares of the real estate investment trust’s stock after selling 2,385 shares during the quarter. Foster & Motley Inc.’s holdings in Extra Space Storage were worth $697,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Zions Bancorporation N.A. raised its stake in Extra Space Storage by 241.9% in the third quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 150 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Extra Space Storage by 162.5% in the third quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 143 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Extra Space Storage in the third quarter worth $32,000. Anchor Investment Management LLC purchased a new position in Extra Space Storage in the fourth quarter worth $35,000. Finally, Riverview Trust Co purchased a new position in Extra Space Storage in the third quarter worth $38,000. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Trading Up 0.4 %

Shares of Extra Space Storage stock opened at $133.30 on Wednesday. The firm has a 50-day simple moving average of $142.28 and a two-hundred day simple moving average of $138.03. The company has a market cap of $28.21 billion, a P/E ratio of 26.98, a price-to-earnings-growth ratio of 3.26 and a beta of 0.74. Extra Space Storage Inc. has a fifty-two week low of $101.19 and a fifty-two week high of $164.99. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.30 and a current ratio of 0.30.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.01). Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. The firm had revenue of $797.77 million during the quarter, compared to analyst estimates of $778.05 million. During the same quarter last year, the company posted $2.09 EPS. The company’s revenue was up 57.4% on a year-over-year basis. As a group, equities analysts predict that Extra Space Storage Inc. will post 8.05 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.86%. Extra Space Storage’s dividend payout ratio (DPR) is presently 131.17%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Truist Financial lifted their price target on shares of Extra Space Storage from $138.00 to $152.00 and gave the stock a “hold” rating in a report on Thursday, December 28th. Raymond James reaffirmed an “outperform” rating and issued a $160.00 price target on shares of Extra Space Storage in a report on Thursday, March 28th. Scotiabank initiated coverage on shares of Extra Space Storage in a report on Tuesday, February 13th. They set a “sector underperform” rating and a $131.00 price objective on the stock. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, March 2nd. Finally, The Goldman Sachs Group boosted their price objective on shares of Extra Space Storage from $168.00 to $187.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $150.17.

Insider Buying and Selling

In other news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total value of $195,750.00. Following the completion of the sale, the executive vice president now owns 37,028 shares of the company’s stock, valued at approximately $5,369,060. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total value of $195,750.00. Following the completion of the sale, the executive vice president now owns 37,028 shares of the company’s stock, valued at approximately $5,369,060. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $146.46, for a total transaction of $299,950.08. Following the completion of the sale, the chief marketing officer now directly owns 94,126 shares of the company’s stock, valued at approximately $13,785,693.96. The disclosure for this sale can be found here. Insiders sold a total of 3,532 shares of company stock worth $514,819 in the last 90 days. Insiders own 1.36% of the company’s stock.

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.