Vestmark Advisory Solutions Inc. Boosts Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Vestmark Advisory Solutions Inc. lifted its holdings in Extra Space Storage Inc. (NYSE:EXR) by 30.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,647 shares of the real estate investment trust’s stock after purchasing an additional 845 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Extra Space Storage were worth $585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Simplicity Solutions LLC purchased a new stake in shares of Extra Space Storage during the 3rd quarter worth about $202,000. Commonwealth Equity Services LLC grew its holdings in shares of Extra Space Storage by 31.1% during the third quarter. Commonwealth Equity Services LLC now owns 15,079 shares of the real estate investment trust’s stock worth $1,833,000 after buying an additional 3,574 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Extra Space Storage by 28.4% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 19,891 shares of the real estate investment trust’s stock valued at $2,418,000 after purchasing an additional 4,398 shares in the last quarter. Raymond James & Associates increased its stake in shares of Extra Space Storage by 80.5% during the 3rd quarter. Raymond James & Associates now owns 165,349 shares of the real estate investment trust’s stock worth $20,103,000 after purchasing an additional 73,754 shares in the last quarter. Finally, Stratos Wealth Partners LTD. purchased a new position in shares of Extra Space Storage during the third quarter valued at approximately $325,000. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Price Performance

Shares of EXR stock traded up $0.32 on Monday, reaching $142.19. The company had a trading volume of 96,575 shares, compared to its average volume of 1,174,327. The company has a quick ratio of 0.30, a current ratio of 0.15 and a debt-to-equity ratio of 0.73. Extra Space Storage Inc. has a one year low of $101.19 and a one year high of $164.99. The stock has a market capitalization of $30.09 billion, a PE ratio of 31.60, a price-to-earnings-growth ratio of 3.48 and a beta of 0.76. The business’s 50-day moving average is $141.56 and its 200 day moving average is $139.00.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($1.01). Extra Space Storage had a net margin of 29.10% and a return on equity of 6.76%. The company had revenue of $797.77 million during the quarter, compared to the consensus estimate of $778.05 million. During the same period last year, the firm posted $2.09 earnings per share. The company’s revenue for the quarter was up 57.4% on a year-over-year basis. Equities research analysts forecast that Extra Space Storage Inc. will post 8.05 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $1.62 dividend. The ex-dividend date was Thursday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.56%. Extra Space Storage’s payout ratio is 144.32%.

Insider Buying and Selling

In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the sale, the executive vice president now directly owns 37,028 shares in the company, valued at approximately $5,369,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction 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 transaction, the chief marketing officer now owns 94,126 shares of the company’s stock, valued at approximately $13,785,693.96. The transaction 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 business’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 37,028 shares of the company’s stock, valued at $5,369,060. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,532 shares of company stock worth $514,819. 1.36% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

EXR has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their target price on shares of Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. The Goldman Sachs Group raised their target price on shares of Extra Space Storage from $168.00 to $187.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Evercore ISI dropped their price target on shares of Extra Space Storage from $145.00 to $139.00 in a research note on Wednesday, May 1st. Barclays initiated coverage on shares of Extra Space Storage in a research note on Wednesday, March 27th. They issued an “overweight” rating and a $157.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Extra Space Storage in a report on Tuesday, January 30th. They set a “hold” rating and a $141.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $149.67.

Extra Space Storage 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.