Extra Space Storage Inc. (NYSE:EXR) Shares Sold by Acas LLC

Acas LLC lessened its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 58.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,908 shares of the real estate investment trust’s stock after selling 9,744 shares during the period. Extra Space Storage makes up approximately 1.3% of Acas LLC’s portfolio, making the stock its 25th biggest holding. Acas LLC’s holdings in Extra Space Storage were worth $1,108,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EXR. CWM LLC grew its holdings in Extra Space Storage by 262.9% during the third quarter. CWM LLC now owns 4,065 shares of the real estate investment trust’s stock worth $494,000 after acquiring an additional 2,945 shares during the period. AE Wealth Management LLC boosted its position in Extra Space Storage by 112.2% during the third quarter. AE Wealth Management LLC now owns 6,719 shares of the real estate investment trust’s stock worth $817,000 after purchasing an additional 3,552 shares in the last quarter. HB Wealth Management LLC purchased a new stake in Extra Space Storage during the third quarter worth $287,000. Leavell Investment Management Inc. purchased a new stake in Extra Space Storage during the third quarter worth $274,000. Finally, Hartford Investment Management Co. boosted its position in Extra Space Storage by 50.6% during the third quarter. Hartford Investment Management Co. now owns 14,682 shares of the real estate investment trust’s stock worth $1,785,000 after purchasing an additional 4,934 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analyst Upgrades and Downgrades

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

Extra Space Storage Price Performance

Shares of NYSE:EXR traded down $1.70 during midday trading on Thursday, reaching $132.94. The company’s stock had a trading volume of 126,834 shares, compared to its average volume of 1,162,146. 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 market capitalization of $28.13 billion, a P/E ratio of 27.26, a P/E/G ratio of 3.27 and a beta of 0.74. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.30 and a quick ratio of 0.30. The business’s fifty day simple moving average is $142.19 and its 200-day simple moving average is $138.01.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share (EPS) 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 company had revenue of $797.77 million for the quarter, compared to the consensus estimate of $778.05 million. During the same quarter last year, the business posted $2.09 EPS. Extra Space Storage’s quarterly revenue was up 57.4% on a year-over-year basis. As a group, equities research analysts expect that Extra Space Storage Inc. will post 8.05 EPS 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. Shareholders of record on Friday, March 15th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.87%. The ex-dividend date of this dividend was Thursday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is 131.17%.

Insiders Place Their Bets

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

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.